True Wealth Design LLC Buys Shares of 98 Primerica, Inc. (NYSE:PRI)

True Wealth Design LLC bought a new stake in shares of Primerica, Inc. (NYSE:PRI) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 98 shares of the financial services provider’s stock, valued at approximately $27,000.

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

Primerica Stock Up 1.0%

PRI opened at $279.02 on Friday. The firm has a market cap of $9.23 billion, a P/E ratio of 20.29 and a beta of 1.02. The business has a fifty day simple moving average of $269.12 and a 200-day simple moving average of $280.03. Primerica, Inc. has a 52 week low of $219.52 and a 52 week high of $307.91.

Primerica (NYSE:PRI) last released 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. The firm had revenue of $803.56 million during the quarter, compared to analyst estimates of $783.54 million. Primerica had a return on equity of 31.11% and a net margin of 15.14%. Primerica’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business posted $3.91 earnings per share. Sell-side analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders 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 1.49%. The ex-dividend date is Thursday, May 22nd. Primerica’s dividend payout ratio is presently 27.98%.

Insider Buying and Selling at Primerica

In related news, insider Nicholas Adam Jendusa sold 234 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was 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 of the company’s stock, valued at $56,030. This trade represents a 53.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Peter W. Schneider sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the transaction, the president now directly owns 13,301 shares in the company, valued at approximately $3,762,852.90. This represents a 13.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,234 shares of company stock worth $1,476,575 over the last ninety days. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PRI. Morgan Stanley reduced their price target on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. 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 target for the company. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Finally, Keefe, Bruyette & Woods lowered their price objective on Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research report on Wednesday, April 9th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Primerica currently has an average rating of “Hold” and an average price target of $309.14.

About Primerica

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.