Russell Investments Group Ltd. Purchases 9,393 Shares of Primerica, Inc. $PRI

Key Points

• Russell Investments Group Ltd. increased its holdings in Primerica, Inc. by 51.7%, acquiring an additional 9,393 shares, bringing their total ownership to approximately 27,562 shares worth $7.84 million.
• Primerica's stock rose 1.8% to $267.18, with a market capitalization of $8.65 billion and an annual dividend yield of 1.6%.
• CEO Glenn J. Williams sold 2,500 shares of Primerica stock, resulting in a 6.43% decrease in his ownership position.

Russell Investments Group Ltd. lifted its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 51.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,562 shares of the financial services provider's stock after purchasing an additional 9,393 shares during the period. Russell Investments Group Ltd. owned 0.08% of Primerica worth $7,842,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Public Sector Pension Investment Board purchased a new stake in Primerica in the 1st quarter worth $9,234,000. Nuveen LLC purchased a new stake in Primerica in the 1st quarter worth $156,019,000. Virtu Financial LLC purchased a new stake in Primerica in the 1st quarter worth $618,000. Invesco Ltd. increased its stake in Primerica by 9.9% in the 1st quarter. Invesco Ltd. now owns 152,062 shares of the financial services provider's stock worth $43,266,000 after buying an additional 13,759 shares in the last quarter. Finally, Benjamin Edwards Inc. purchased a new stake in Primerica in the 1st quarter worth $206,000. Hedge funds and other institutional investors own 90.88% of the company's stock.

Primerica Stock Up 1.8%

PRI traded up $4.8760 on Friday, hitting $269.9860. The company had a trading volume of 144,979 shares, compared to its average volume of 163,886. The company has a market cap of $8.74 billion, a PE ratio of 13.34 and a beta of 0.99. Primerica, Inc. has a 12-month low of $230.98 and a 12-month high of $307.91. The business's fifty day simple moving average is $265.62 and its 200 day simple moving average is $270.31.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.46 EPS for the quarter, topping the consensus estimate of $5.18 by $0.28. The company had revenue of $796.02 million during the quarter, compared to analyst estimates of $790.99 million. Primerica had a return on equity of 32.42% and a net margin of 21.48%.The firm's revenue was up .3% on a year-over-year basis. During the same quarter last year, the business posted $4.71 earnings per share. On average, analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 22nd will be given a $1.04 dividend. The ex-dividend date is Friday, August 22nd. This represents a $4.16 annualized dividend and a yield of 1.5%. Primerica's dividend payout ratio (DPR) is currently 20.55%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PRI shares. Morgan Stanley increased their price target on Primerica from $292.00 to $308.00 and gave the stock an "equal weight" rating in a research note on Monday, August 18th. Jefferies Financial Group cut their price target on Primerica from $293.00 to $283.00 and set a "hold" rating for the company in a research note on Monday, August 11th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a report on Monday, August 11th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $315.29.

Insider Transactions at Primerica

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total value of $655,500.00. Following the completion of the sale, the chief executive officer owned 36,392 shares of the company's stock, valued at $9,541,982.40. This trade represents a 6.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is currently owned by insiders.

Primerica Company Profile

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.