Voya Investment Management LLC Purchases 3,657 Shares of Primerica, Inc. $PRI

Key Points

• Voya Investment Management LLC increased its stake in Primerica, Inc. by 72.8%, purchasing an additional 3,657 shares, totaling 8,683 shares worth $2,471,000.
• Primerica reported a quarterly EPS of $5.46, exceeding analysts' expectations of $5.18, along with a revenue increase of 0.3% year-over-year to $796.02 million.
• CEO Glenn J. Williams sold 2,500 shares at $262.20 each, reducing his ownership by 6.43%, while Primerica's stock currently has an average price target set at $315.29.

Voya Investment Management LLC raised its position in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 72.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,683 shares of the financial services provider's stock after purchasing an additional 3,657 shares during the period. Voya Investment Management LLC's holdings in Primerica were worth $2,471,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Cetera Investment Advisers raised its position in shares of Primerica by 17.2% in the 4th quarter. Cetera Investment Advisers now owns 1,829 shares of the financial services provider's stock worth $497,000 after acquiring an additional 268 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Primerica by 5.8% in the 4th quarter. ProShare Advisors LLC now owns 1,561 shares of the financial services provider's stock worth $424,000 after acquiring an additional 86 shares in the last quarter. Tidal Investments LLC raised its position in shares of Primerica by 42.1% in the 4th quarter. Tidal Investments LLC now owns 5,867 shares of the financial services provider's stock worth $1,592,000 after acquiring an additional 1,737 shares in the last quarter. Two Sigma Investments LP raised its position in shares of Primerica by 72.1% in the 4th quarter. Two Sigma Investments LP now owns 22,202 shares of the financial services provider's stock worth $6,026,000 after acquiring an additional 9,301 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new position in shares of Primerica in the 4th quarter worth $869,000. 90.88% of the stock is owned by institutional investors.

Insider Buying and Selling at Primerica

In other 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 owned 36,392 shares in the company, 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 legal filing with the SEC, which is available through this link. 0.61% of the stock is currently owned by company insiders.

Primerica Price Performance

Shares of NYSE PRI opened at $274.92 on Friday. The stock has a market capitalization of $8.90 billion, a price-to-earnings ratio of 13.58 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 50 day simple moving average is $266.76 and its 200-day simple moving average is $268.28.

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 (EPS) for the quarter, topping analysts' consensus estimates of $5.18 by $0.28. The company had revenue of $796.02 million for the quarter, compared to the consensus estimate of $790.99 million. Primerica had a return on equity of 32.42% and a net margin of 21.48%.Primerica's revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.71 earnings per share. Analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Dividend Announcement

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

Analysts Set New Price Targets

PRI has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their price target on Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a research report on Monday, August 11th. Jefferies Financial Group reduced their price target on Primerica from $293.00 to $283.00 and set a "hold" rating for the company in a research report on Monday, August 11th. Finally, Morgan Stanley boosted their price target on Primerica from $292.00 to $308.00 and gave the stock an "equal weight" rating in a research report on Monday, August 18th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Primerica presently 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.

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