United Services Automobile Association Buys New Holdings in Primerica, Inc. $PRI

Key Points

• United Services Automobile Association acquired 2,205 shares of Primerica, Inc. valued at approximately $625,000 during the first quarter of the year.
• CEO Glenn J. Williams sold 2,500 shares of Primerica for $655,500, reducing his total ownership by 6.43% to 36,392 shares.
• Primerica recently announced a quarterly dividend of $1.04 per share, yielding 1.5%, with a payout ratio of 20.55%.

United Services Automobile Association bought a new position in Primerica, Inc. (NYSE:PRI - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,205 shares of the financial services provider's stock, valued at approximately $625,000.

A number of other institutional investors have also recently modified their holdings of the stock. HB Wealth Management LLC grew its stake in shares of Primerica by 1.9% in the first quarter. HB Wealth Management LLC now owns 2,088 shares of the financial services provider's stock worth $594,000 after acquiring an additional 38 shares during the last quarter. Applied Finance Capital Management LLC grew its stake in shares of Primerica by 5.3% in the first quarter. Applied Finance Capital Management LLC now owns 839 shares of the financial services provider's stock worth $239,000 after acquiring an additional 42 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Primerica by 1.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 3,095 shares of the financial services provider's stock worth $881,000 after acquiring an additional 44 shares during the last quarter. Xponance Inc. boosted its position in shares of Primerica by 1.2% during the first quarter. Xponance Inc. now owns 3,945 shares of the financial services provider's stock valued at $1,122,000 after buying an additional 47 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its position in shares of Primerica by 15.3% during the first quarter. TD Private Client Wealth LLC now owns 421 shares of the financial services provider's stock valued at $120,000 after buying an additional 56 shares during the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at Primerica

In related news, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $262.20, for a total transaction of $655,500.00. Following the sale, the chief executive officer owned 36,392 shares of the company's stock, valued at approximately $9,541,982.40. This trade represents a 6.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.61% of the company's stock.

Primerica Price Performance

Shares of PRI stock traded down $1.15 during trading hours on Monday, reaching $273.08. 21,319 shares of the company traded hands, compared to its average volume of 170,302. Primerica, Inc. has a 12-month low of $230.98 and a 12-month high of $307.91. The company has a market cap of $8.84 billion, a P/E ratio of 13.48 and a beta of 1.00. The firm has a 50-day moving average price of $266.56 and a 200 day moving average price of $268.69.

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

Primerica Dividend Announcement

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

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.