Versor Investments LP Cuts Stake in Primerica, Inc. $PRI

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 trimmed its position in Primerica, Inc. (NYSE:PRI - Free Report) by 72.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 950 shares of the financial services provider's stock after selling 2,513 shares during the period. Versor Investments LP's holdings in Primerica were worth $270,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PRI. Colonial Trust Co SC purchased a new stake in Primerica in the fourth quarter worth $25,000. True Wealth Design LLC purchased a new stake in Primerica in the fourth quarter worth $27,000. Headlands Technologies LLC grew its stake in Primerica by 2,300.0% in the first quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider's stock worth $48,000 after purchasing an additional 161 shares during the period. Summit Securities Group LLC purchased a new stake in Primerica in the first quarter worth $64,000. Finally, Golden State Wealth Management LLC grew its stake in Primerica by 105.7% in the first quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider's stock worth $72,000 after purchasing an additional 130 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Trading Up 0.7%

PRI stock traded up $1.98 during trading on Wednesday, reaching $269.97. The stock had a trading volume of 186,143 shares, compared to its average volume of 163,238. Primerica, Inc. has a 52 week low of $230.98 and a 52 week high of $307.91. The stock's 50 day moving average is $266.16 and its two-hundred day moving average is $269.73. The firm has a market cap of $8.74 billion, a PE ratio of 13.34 and a beta of 0.99.

Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings data 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. Primerica had a return on equity of 32.42% and a net margin of 21.48%.The firm had revenue of $796.02 million for the quarter, compared to the consensus estimate of $790.99 million. During the same quarter last year, the company earned $4.71 earnings per share. The business's revenue for the quarter was up .3% compared to the same quarter last year. On average, research analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Dividend Announcement

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

Insider Activity at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $262.20, for a total value of $655,500.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Morgan Stanley upped 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 reduced their price target on Primerica from $293.00 to $283.00 and set a "hold" rating on the stock in a research note on Monday, August 11th. Finally, Keefe, Bruyette & Woods increased their target price on Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a research note on Monday, August 11th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $315.29.

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.