United Services Automobile Association Acquires Shares of 2,205 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 purchased a new stake in Primerica, Inc. (NYSE:PRI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,205 shares of the financial services provider's stock, valued at approximately $625,000.

Several other hedge funds also recently added to or reduced their stakes in PRI. True Wealth Design LLC purchased a new stake in Primerica in the fourth quarter valued at $27,000. Headlands Technologies LLC boosted its stake in shares of Primerica by 2,300.0% during the 1st quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider's stock worth $48,000 after acquiring an additional 161 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Primerica during the 1st quarter worth about $64,000. Golden State Wealth Management LLC boosted its stake in shares of Primerica by 105.7% during the 1st quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider's stock worth $72,000 after acquiring an additional 130 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Primerica by 26.9% during the 1st quarter. Parallel Advisors LLC now owns 307 shares of the financial services provider's stock worth $87,000 after acquiring an additional 65 shares in the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Primerica Price Performance

Primerica stock traded down $0.12 during midday trading on Friday, reaching $274.28. The company had a trading volume of 211,384 shares, compared to its average volume of 162,316. The company has a market capitalization of $8.88 billion, a P/E ratio of 13.55 and a beta of 1.00. Primerica, Inc. has a 12-month low of $230.98 and a 12-month high of $307.91. The firm's fifty day simple moving average is $266.56 and its 200-day simple moving average is $268.87.

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

Primerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 22nd will be issued a $1.04 dividend. The ex-dividend date is Friday, August 22nd. This represents a $4.16 dividend on an annualized basis and a yield of 1.5%. Primerica's dividend payout ratio is presently 20.55%.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the 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 in the company, valued at approximately $9,541,982.40. This represents a 6.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.61% of the company's stock.

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.