Millennium Management LLC Sells 383,053 Shares of Primerica, Inc. (NYSE:PRI)

Millennium Management LLC cut its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 61.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 240,207 shares of the financial services provider's stock after selling 383,053 shares during the quarter. Millennium Management LLC owned about 0.72% of Primerica worth $65,197,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PRI. Raymond James Financial Inc. bought a new stake in shares of Primerica in the 4th quarter worth about $34,191,000. AQR Capital Management LLC raised its position in Primerica by 254.5% in the 4th quarter. AQR Capital Management LLC now owns 116,271 shares of the financial services provider's stock worth $31,558,000 after purchasing an additional 83,477 shares during the period. Geode Capital Management LLC lifted its stake in Primerica by 11.9% in the fourth quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider's stock worth $211,691,000 after purchasing an additional 82,921 shares during the last quarter. FIL Ltd boosted its position in shares of Primerica by 85.5% during the fourth quarter. FIL Ltd now owns 131,365 shares of the financial services provider's stock valued at $35,655,000 after buying an additional 60,565 shares during the period. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Primerica by 2,508.8% during the fourth quarter. Cubist Systematic Strategies LLC now owns 57,499 shares of the financial services provider's stock valued at $15,606,000 after buying an additional 55,295 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Nicholas Adam Jendusa sold 234 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total transaction of $65,555.10. Following the transaction, the insider now owns 200 shares in the company, valued at $56,030. This represents a 53.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total transaction of $565,800.00. Following the transaction, the president now owns 13,301 shares in the company, valued at $3,762,852.90. The trade was a 13.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,234 shares of company stock worth $1,476,575 over the last 90 days. Company insiders own 0.61% of the company's stock.

Primerica Price Performance

PRI stock opened at $275.62 on Friday. Primerica, Inc. has a 1-year low of $219.52 and a 1-year high of $307.91. The business has a 50-day moving average price of $269.10 and a 200 day moving average price of $280.02. The company has a market capitalization of $9.12 billion, a P/E ratio of 20.05 and a beta of 1.02.

Primerica (NYSE:PRI - Get Free Report) last posted its earnings results on Wednesday, May 7th. The financial services provider reported $5.02 EPS for the quarter, beating analysts' consensus estimates of $4.77 by $0.25. Primerica had a net margin of 15.14% and a return on equity of 31.11%. The business had revenue of $803.56 million for the quarter, compared to the consensus estimate of $783.54 million. During the same quarter last year, the firm posted $3.91 EPS. The company's revenue for the quarter was up 8.3% on a year-over-year basis. On average, analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 22nd will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Thursday, May 22nd. Primerica's dividend payout ratio (DPR) is 27.98%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PRI shares. Morgan Stanley dropped their price objective on Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. StockNews.com lowered shares of Primerica from a "buy" rating to a "hold" rating in a research note on Friday, February 7th. BMO Capital Markets started coverage on shares of Primerica in a report on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 price target on the stock. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a report on Wednesday, April 9th. Six research 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, the stock currently has a consensus rating of "Hold" and a consensus target price of $309.14.

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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