Amundi Reduces Position in Primerica, Inc. $PRI

Amundi decreased its stake in shares of Primerica, Inc. (NYSE:PRI) by 70.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 8,368 shares of the financial services provider’s stock after selling 19,888 shares during the quarter. Amundi’s holdings in Primerica were worth $2,305,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PRI. True Wealth Design LLC purchased a new position in Primerica during the fourth quarter worth $27,000. Headlands Technologies LLC grew its position in shares of Primerica by 2,300.0% in the first quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 161 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Primerica in the first quarter valued at $64,000. Golden State Wealth Management LLC grew its position 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. Finally, Parallel Advisors LLC grew its position in shares of Primerica by 26.9% in the first quarter. Parallel Advisors LLC now owns 307 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 65 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Trading Up 1.8%

Shares of NYSE PRI opened at $274.65 on Friday. The firm has a market cap of $8.90 billion, a PE ratio of 13.57 and a beta of 1.00. Primerica, Inc. has a 1-year low of $230.98 and a 1-year high of $307.91. The company has a fifty day moving average price of $266.61 and a 200 day moving average price of $268.88.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share 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 firm had revenue of $796.02 million during the quarter, compared to analyst estimates of $790.99 million. During the same period in the prior year, the business earned $4.71 EPS. The company’s revenue for the quarter was up .3% compared to the same quarter last year. Equities research analysts forecast that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 22nd will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $4.16 annualized dividend and a yield of 1.5%. Primerica’s payout ratio is 20.55%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PRI shares. Jefferies Financial Group lowered their price objective on Primerica from $293.00 to $283.00 and set a “hold” rating for the company in a research report on Monday, August 11th. Keefe, Bruyette & Woods lifted their target price on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a report on Monday, August 11th. Finally, Morgan Stanley lifted their target price on Primerica from $292.00 to $308.00 and gave the company an “equal weight” rating in a report on Monday, August 18th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $315.29.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total transaction of $655,500.00. Following the sale, the chief executive officer directly owned 36,392 shares of the company’s stock, valued at $9,541,982.40. The trade was a 6.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.61% of the stock is owned by company 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.