WBI Investments LLC Takes $2.87 Million Position 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 bought a new position in Primerica, Inc. (NYSE:PRI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,088 shares of the financial services provider's stock, valued at approximately $2,870,000. Primerica accounts for approximately 0.8% of WBI Investments LLC's holdings, making the stock its 28th biggest position.

Other large investors have also made changes to their positions in the company. True Wealth Design LLC bought a new stake in Primerica in the fourth quarter valued at about $27,000. Headlands Technologies LLC increased its position in Primerica by 2,300.0% during the first quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider's stock worth $48,000 after buying an additional 161 shares during the last quarter. Summit Securities Group LLC bought a new stake in Primerica during the first quarter valued at about $64,000. Golden State Wealth Management LLC boosted its holdings in Primerica by 105.7% during the first quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider's stock valued at $72,000 after acquiring an additional 130 shares during the period. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Primerica by 205.8% in the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider's stock valued at $75,000 after buying an additional 177 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PRI. Keefe, Bruyette & Woods increased their price target on shares of 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 lowered their target price on shares of Primerica from $293.00 to $283.00 and set a "hold" rating for the company in a report on Monday, August 11th. Finally, Morgan Stanley lifted their price target on shares of Primerica from $292.00 to $308.00 and gave the stock an "equal weight" rating in a research report on Monday, August 18th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Primerica has an average rating of "Hold" and a consensus target price of $315.29.

Insider Activity

In other news, CEO Glenn J. Williams sold 2,500 shares of the firm's stock in a transaction 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 in the company, valued at $9,541,982.40. This trade represents a 6.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is owned by corporate insiders.

Primerica Stock Down 0.6%

PRI stock traded down $1.51 during midday trading on Tuesday, reaching $268.34. 88,454 shares of the company's stock traded hands, compared to its average volume of 170,438. The company has a 50-day simple moving average of $266.49 and a two-hundred day simple moving average of $268.55. Primerica, Inc. has a 1-year low of $230.98 and a 1-year high of $307.91. The company has a market cap of $8.69 billion, a price-to-earnings ratio of 13.24 and a beta of 1.00.

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

Primerica Dividend Announcement

The business also recently declared 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 1.6%. The ex-dividend date was Friday, August 22nd. Primerica's dividend payout ratio (DPR) is currently 20.55%.

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.