Virtu Financial LLC Invests $618,000 in Primerica, Inc. (NYSE:PRI)

Key Points

• Virtu Financial LLC invested approximately $618,000 in Primerica, Inc. by purchasing 2,174 shares in the first quarter, as detailed in their latest SEC Form 13F filing.
• Primerica has received mixed reviews from analysts, with a consensus target price of $313.57 and several institutions rating it as a "hold."
• The company announced a quarterly dividend of $1.04, reflecting an annualized yield of 1.6%, with the ex-dividend date set for August 22nd.

Virtu Financial LLC purchased a new position in Primerica, Inc. (NYSE:PRI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,174 shares of the financial services provider's stock, valued at approximately $618,000.

Several other institutional investors and hedge funds also recently modified their holdings of PRI. Colonial Trust Co SC bought a new position in shares of Primerica in the fourth quarter worth $25,000. True Wealth Design LLC bought a new position in shares of Primerica in the fourth quarter worth $27,000. Headlands Technologies LLC grew its stake in shares of 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 in the last quarter. Bessemer Group Inc. grew its stake in shares of Primerica by 182.2% in the fourth quarter. Bessemer Group Inc. now owns 254 shares of the financial services provider's stock worth $69,000 after purchasing an additional 164 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its stake in shares of 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 in the last quarter. Institutional investors own 90.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PRI shares. Keefe, Bruyette & Woods increased their price target on Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a research note on Monday. Morgan Stanley raised their target price on Primerica from $274.00 to $296.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Finally, Jefferies Financial Group decreased their target price on Primerica from $293.00 to $283.00 and set a "hold" rating for the company in a research note on Monday. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Primerica has an average rating of "Hold" and a consensus target price of $313.57.

Primerica Price Performance

PRI opened at $264.24 on Wednesday. Primerica, Inc. has a fifty-two week low of $230.98 and a fifty-two week high of $307.91. The business has a 50-day moving average of $265.32 and a 200-day moving average of $271.60. The company has a market capitalization of $8.56 billion, a PE ratio of 13.06 and a beta of 0.99.

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

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 22nd will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 22nd. Primerica's dividend payout ratio (DPR) is presently 20.55%.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 2,500 shares of the firm's stock in a transaction that occurred on 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 directly 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. 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.

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