D. E. Shaw & Co. Inc. Reduces Holdings in Primerica, Inc. (NYSE:PRI)

D. E. Shaw & Co. Inc. lowered its position in Primerica, Inc. (NYSE:PRI) by 36.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 48,423 shares of the financial services provider’s stock after selling 27,467 shares during the period. D. E. Shaw & Co. Inc. owned 0.15% of Primerica worth $13,143,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PRI. Colonial Trust Co SC acquired a new position in Primerica during the fourth quarter worth about $25,000. Golden State Wealth Management LLC acquired a new stake in shares of Primerica in the fourth quarter valued at approximately $33,000. EverSource Wealth Advisors LLC lifted its position in Primerica by 129.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock worth $34,000 after buying an additional 71 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in Primerica by 116.2% during the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock worth $58,000 after buying an additional 115 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in Primerica by 65.5% in the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock valued at $65,000 after buying an additional 95 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Stock Performance

Primerica stock opened at $271.18 on Wednesday. The company has a market capitalization of $8.97 billion, a price-to-earnings ratio of 19.72 and a beta of 1.02. The company’s 50 day simple moving average is $269.26 and its 200-day simple moving average is $280.08. Primerica, Inc. has a 1 year low of $219.52 and a 1 year high of $307.91.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.77 by $0.25. Primerica had a return on equity of 31.11% and a net margin of 15.14%. The company had revenue of $803.56 million for the quarter, compared to analyst estimates of $783.54 million. During the same quarter in the previous year, the company earned $3.91 earnings per share. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 22nd will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, May 22nd. Primerica’s payout ratio is 27.98%.

Analysts Set New Price Targets

Several research firms have recently commented on PRI. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods decreased their target price on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a report on Wednesday, April 9th. Morgan Stanley cut their price target on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Finally, BMO Capital Markets started coverage on Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $309.14.

Insider Activity at Primerica

In other news, President Peter W. Schneider sold 2,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the sale, the president now directly owns 13,301 shares in the company, valued at approximately $3,762,852.90. This trade represents a 13.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total value of $65,555.10. Following the completion of the transaction, the insider now owns 200 shares of the company’s stock, valued at approximately $56,030. This trade represents a 53.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock worth $1,476,575 in the last three months. 0.61% of the stock is owned by company insiders.

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.