T. Rowe Price Investment Management Inc. Buys 23,925 Shares of Primerica, Inc. $PRI

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Primerica, Inc. by 15.0%, acquiring an additional 23,925 shares during the first quarter, bringing its total ownership to 183,699 shares valued at approximately $52.27 million.
• Primerica reported earnings per share (EPS) of $5.46 for the most recent quarter, surpassing expectations by $0.28, with revenue rising by .3% year-over-year to $796.02 million.
• The company declared a quarterly dividend of $1.04, with an annualized dividend of $4.16 and a yield of 1.5%, set to be paid on September 15th.

T. Rowe Price Investment Management Inc. lifted its stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 15.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 183,699 shares of the financial services provider's stock after purchasing an additional 23,925 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 0.56% of Primerica worth $52,268,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Colonial Trust Co SC acquired a new stake in Primerica in the 4th quarter valued at approximately $25,000. True Wealth Design LLC acquired a new stake in Primerica in the 4th quarter valued at approximately $27,000. Headlands Technologies LLC increased its position in Primerica by 2,300.0% in the 1st quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider's stock valued at $48,000 after acquiring an additional 161 shares during the period. Summit Securities Group LLC acquired a new stake in Primerica in the 1st quarter valued at approximately $64,000. Finally, Golden State Wealth Management LLC increased its position in Primerica by 105.7% in the 1st quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider's stock valued at $72,000 after acquiring an additional 130 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Stock Up 0.9%

Shares of PRI traded up $2.36 during mid-day trading on Wednesday, reaching $270.35. The company's stock had a trading volume of 88,639 shares, compared to its average volume of 168,951. Primerica, Inc. has a 1 year low of $230.98 and a 1 year high of $307.91. The business has a fifty day moving average of $265.96 and a 200 day moving average of $269.72. The company has a market cap of $8.76 billion, a price-to-earnings ratio of 13.36 and a beta of 0.99.

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

Primerica Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently commented on PRI. Morgan Stanley raised their target price on Primerica from $292.00 to $308.00 and gave the company an "equal weight" rating in a research report on Monday, August 18th. Jefferies Financial Group decreased 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 target on Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research note on Monday, August 11th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $315.29.

Insiders Place Their Bets

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

Primerica 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.