Primerica, Inc. $PRI Holdings Lowered by Versor Investments LP

Key Points

• Versor Investments LP reduced its stake in Primerica, Inc. by 72.6% in the first quarter, now owning 950 shares valued at $270,000.
• Primerica's recent earnings report showed a quarterly EPS of $5.46, exceeding estimates and a revenue increase of 0.3% year-over-year.
• The company announced a quarterly dividend of $1.04 per share, with a 1.6% dividend yield, to be paid on September 15th.

Versor Investments LP cut its position in Primerica, Inc. (NYSE:PRI - Free Report) by 72.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 950 shares of the financial services provider's stock after selling 2,513 shares during the quarter. Versor Investments LP's holdings in Primerica were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Colonial Trust Co SC bought a new position in Primerica during the 4th quarter valued at $25,000. True Wealth Design LLC acquired a new position in Primerica during the 4th quarter worth $27,000. Headlands Technologies LLC grew its holdings in 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 acquired a new position in Primerica during the 1st quarter worth $64,000. Finally, Golden State Wealth Management LLC grew its holdings in 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. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, CEO Glenn J. Williams sold 2,500 shares of Primerica 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 sale, the chief executive officer directly owned 36,392 shares in the company, valued at $9,541,982.40. This trade represents a 6.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

Primerica Stock Performance

Shares of NYSE PRI traded up $1.82 during midday trading on Tuesday, hitting $268.39. The company's stock had a trading volume of 54,982 shares, compared to its average volume of 169,017. Primerica, Inc. has a 1-year low of $230.98 and a 1-year high of $307.91. The firm's fifty day moving average price is $265.74 and its 200-day moving average price is $269.74. The firm has a market cap of $8.69 billion, a P/E ratio of 13.21 and a beta of 0.99.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share for the quarter, beating the consensus estimate of $5.18 by $0.28. The firm had revenue of $796.02 million for the quarter, compared to the consensus estimate 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 firm posted $4.71 EPS. As a group, research analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Announces Dividend

The company also recently disclosed 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 1.6%. Primerica's dividend payout ratio (DPR) is currently 20.55%.

About Primerica

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.