Primerica, Inc. (NYSE:PRI) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its stake in shares of Primerica, Inc. (NYSE:PRI) by 12.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,574 shares of the financial services provider’s stock after selling 224 shares during the period. Maryland State Retirement & Pension System’s holdings in Primerica were worth $448,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PRI. Colonial Trust Co SC acquired a new position in Primerica during the fourth quarter worth approximately $25,000. True Wealth Design LLC purchased a new position in Primerica in the 4th quarter worth approximately $27,000. Headlands Technologies LLC boosted its holdings in Primerica by 2,300.0% in the 1st quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 161 shares during the period. Bessemer Group Inc. boosted its holdings in Primerica by 182.2% in the 4th quarter. Bessemer Group Inc. now owns 254 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 164 shares during the period. Finally, Golden State Wealth Management LLC boosted its stake in shares of Primerica by 105.7% in the first quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

Wall Street Analysts Forecast Growth

PRI has been the subject of several analyst reports. Jefferies Financial Group decreased their target price on shares of Primerica from $293.00 to $283.00 and set a “hold” rating for the company in a research note on Monday, August 11th. Keefe, Bruyette & Woods raised their price objective on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a report on Monday, August 11th. Finally, Morgan Stanley raised their price objective on shares of Primerica from $274.00 to $296.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $313.57.

Primerica Stock Performance

Primerica stock opened at $261.36 on Friday. The firm’s 50-day moving average is $264.98 and its 200-day moving average is $271.16. 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 $8.47 billion, a P/E ratio of 12.91 and a beta of 0.99.

Primerica (NYSE:PRI) last posted its quarterly earnings results 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. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The company had revenue of $796.02 million for the quarter, compared to the consensus estimate of $790.99 million. During the same period last year, the firm posted $4.71 EPS. The company’s revenue for the quarter was up .3% on a year-over-year basis. As a group, sell-side analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 22nd will be given a $1.04 dividend. The ex-dividend date is Friday, August 22nd. This represents a $4.16 annualized dividend and a yield of 1.6%. Primerica’s dividend payout ratio (DPR) is currently 20.55%.

Insiders Place Their Bets

In related news, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total value of $655,500.00. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

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.