Parkwood LLC Sells 12,986 Shares of Primerica, Inc. $PRI

Parkwood LLC lessened its position in Primerica, Inc. (NYSE:PRI) by 32.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,045 shares of the financial services provider’s stock after selling 12,986 shares during the period. Parkwood LLC owned about 0.08% of Primerica worth $7,695,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted 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 buying an additional 37,994 shares in the last quarter. Burgundy Asset Management Ltd. lifted its stake 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake 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 in the last quarter. Nuveen LLC bought a new position in shares of Primerica in the first quarter worth approximately $156,019,000. Finally, Fiduciary Management Inc. WI lifted its stake 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 in the last quarter. Institutional investors own 90.88% of the company’s stock.

Primerica Stock Down 0.1%

Shares of NYSE PRI opened at $273.42 on Friday. The firm’s 50-day moving average price is $266.85 and its 200-day moving average price is $269.01. The company has a market cap of $8.86 billion, a PE ratio of 13.51 and a beta of 1.00. Primerica, Inc. has a 52-week low of $230.98 and a 52-week high of $307.91.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.28. The company had revenue of $796.02 million for the quarter, compared to the consensus estimate of $790.99 million. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the firm posted $4.71 earnings per share. As a group, equities research analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on PRI. Morgan Stanley raised their price target on shares of Primerica from $292.00 to $308.00 and gave the company an “equal weight” rating in a report on Monday, August 18th. Keefe, Bruyette & Woods raised their price target on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a report on Monday, August 11th. Finally, Jefferies Financial Group dropped their price target 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 research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $315.29.

Insider Activity

In related 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 value of $655,500.00. Following the transaction, the chief executive officer owned 36,392 shares of the company’s stock, valued at approximately $9,541,982.40. This trade represents a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.61% of the company’s stock.

Primerica Company 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.