Virtu Financial LLC Acquires New Holdings 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 bought a new position in shares of Primerica, Inc. (NYSE:PRI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,174 shares of the financial services provider's stock, valued at approximately $618,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mariner LLC grew its holdings in shares of Primerica by 1.4% during the fourth quarter. Mariner LLC now owns 2,611 shares of the financial services provider's stock valued at $709,000 after buying an additional 36 shares during the last quarter. HB Wealth Management LLC lifted its position in shares of Primerica by 1.9% during the first quarter. HB Wealth Management LLC now owns 2,088 shares of the financial services provider's stock valued at $594,000 after purchasing an additional 38 shares in the last quarter. Applied Finance Capital Management LLC lifted its position in shares of Primerica by 5.3% during the first quarter. Applied Finance Capital Management LLC now owns 839 shares of the financial services provider's stock valued at $239,000 after purchasing an additional 42 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Primerica by 1.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 3,095 shares of the financial services provider's stock valued at $881,000 after purchasing an additional 44 shares in the last quarter. Finally, Xponance Inc. lifted 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 purchasing an additional 47 shares in the last quarter. Institutional investors own 90.88% of the company's stock.

Insider Activity

In other news, CEO Glenn J. Williams sold 2,500 shares of the business's stock in a transaction that occurred on 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 owned 36,392 shares of the company's stock, valued at $9,541,982.40. The trade was a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.61% of the stock is currently owned by company insiders.

Primerica Stock Performance

PRI stock traded down $1.48 during mid-day trading on Friday, hitting $261.36. The company had a trading volume of 133,668 shares, compared to its average volume of 163,494. The firm has a market cap of $8.47 billion, a PE ratio of 12.91 and a beta of 0.99. Primerica, Inc. has a 12 month low of $230.98 and a 12 month high of $307.91. The stock's fifty day moving average price is $264.98 and its two-hundred day moving average price is $271.01.

Primerica (NYSE:PRI - Get Free Report) last announced 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. The business 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%. The company's revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.71 earnings per share. Equities analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 22nd will be given 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 1.6%. Primerica's payout ratio is 20.55%.

Analysts Set New Price Targets

A number of research firms recently weighed in on PRI. Jefferies Financial Group dropped their price target on shares of Primerica from $293.00 to $283.00 and set a "hold" rating on the stock in a research report on Monday, August 11th. Keefe, Bruyette & Woods raised their price target on shares of Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research report on Monday, August 11th. Finally, Morgan Stanley raised their price target on shares of Primerica from $274.00 to $296.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Primerica has a consensus rating of "Hold" and an average price target of $313.57.

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.