WBI Investments LLC Invests $2.87 Million in Primerica, Inc. $PRI

Key Points

• WBI Investments LLC has invested approximately $2.87 million in Primerica, Inc., acquiring 10,088 shares, which now constitutes 0.8% of their portfolio.
• Analyst reports indicate a mixed outlook for Primerica's stock, with Keefe, Bruyette & Woods and Morgan Stanley slightly increasing their price targets, while Jefferies Financial Group reduced theirs.
• Primerica announced a quarterly dividend of $1.04 per share, resulting in an annualized yield of 1.5%, with a payout ratio of 20.55%.

WBI Investments LLC purchased a new position in Primerica, Inc. (NYSE:PRI - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,088 shares of the financial services provider's stock, valued at approximately $2,870,000. Primerica accounts for 0.8% of WBI Investments LLC's portfolio, making the stock its 28th biggest position.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Primerica by 1.1% in the first quarter. Vanguard Group Inc. now owns 3,493,650 shares of the financial services provider's stock worth $994,048,000 after acquiring an additional 37,994 shares during the period. Burgundy Asset Management Ltd. boosted its holdings in shares of Primerica by 1.7% in the first quarter. Burgundy Asset Management Ltd. now owns 1,310,019 shares of the financial services provider's stock worth $372,740,000 after buying an additional 21,546 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Primerica by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 611,437 shares of the financial services provider's stock worth $173,963,000 after buying an additional 16,350 shares during the last quarter. Nuveen LLC purchased a new position in shares of Primerica in the first quarter worth approximately $156,019,000. Finally, Fiduciary Management Inc. WI boosted its holdings in shares of Primerica by 2.8% in the first quarter. Fiduciary Management Inc. WI now owns 490,923 shares of the financial services provider's stock worth $139,682,000 after buying an additional 13,402 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. 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 dropped their price objective on shares of Primerica from $293.00 to $283.00 and set a "hold" rating on the stock in a report on Monday, August 11th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $315.29.

Primerica Trading Down 0.8%

NYSE PRI opened at $269.32 on Thursday. Primerica, Inc. has a 12 month low of $230.98 and a 12 month high of $307.91. The stock has a market cap of $8.72 billion, a price-to-earnings ratio of 13.31 and a beta of 1.00. The company's 50 day moving average is $266.67 and its two-hundred day moving average is $268.89.

Primerica (NYSE:PRI - Get Free Report) last released its earnings results on Wednesday, August 6th. The financial services provider reported $5.46 EPS for the quarter, topping analysts' consensus estimates of $5.18 by $0.28. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The company had revenue of $796.02 million for the quarter, compared to analysts' expectations of $790.99 million. During the same quarter last year, the business earned $4.71 EPS. The firm's revenue was up .3% compared to the same quarter last year. Sell-side analysts forecast that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 22nd will be paid a dividend of $1.04 per share. The ex-dividend date is Friday, August 22nd. This represents a $4.16 dividend on an annualized basis and a yield of 1.5%. Primerica's dividend payout ratio (DPR) is presently 20.55%.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the firm'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 transaction of $655,500.00. Following the sale, the chief executive officer owned 36,392 shares in the company, valued at approximately $9,541,982.40. This trade represents a 6.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.61% of the company's stock.

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.

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