Headlands Technologies LLC Raises Position in Primerica, Inc. (NYSE:PRI)

Headlands Technologies LLC raised its stake in shares of Primerica, Inc. (NYSE:PRI) by 2,300.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 168 shares of the financial services provider’s stock after purchasing an additional 161 shares during the period. Headlands Technologies LLC’s holdings in Primerica were worth $48,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI purchased a new stake in Primerica during the first quarter valued at approximately $208,000. Vanguard Group Inc. raised its position in Primerica by 1.1% during the first quarter. Vanguard Group Inc. now owns 3,493,650 shares of the financial services provider’s stock valued at $994,048,000 after purchasing an additional 37,994 shares during the period. MGB Wealth Management LLC raised its position in Primerica by 6.2% during the first quarter. MGB Wealth Management LLC now owns 3,474 shares of the financial services provider’s stock valued at $987,000 after purchasing an additional 204 shares during the period. New Age Alpha Advisors LLC purchased a new stake in Primerica during the first quarter valued at approximately $1,922,000. Finally, Westfield Capital Management Co. LP raised its position in Primerica by 15.0% during the first quarter. Westfield Capital Management Co. LP now owns 276,225 shares of the financial services provider’s stock valued at $78,594,000 after purchasing an additional 36,095 shares during the period. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Primerica Stock Up 2.3%

Shares of NYSE:PRI opened at $264.24 on Wednesday. Primerica, Inc. has a 52-week low of $230.98 and a 52-week high of $307.91. The stock has a market cap of $8.56 billion, a P/E ratio of 13.06 and a beta of 0.99. The business’s 50 day moving average is $265.32 and its 200 day moving average is $271.60.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.18 by $0.28. Primerica had a return on equity of 32.42% and a net margin of 21.48%. The company had revenue of $796.02 million for the quarter, compared to analysts’ expectations of $790.99 million. During the same quarter in the prior year, the firm earned $4.71 earnings per share. Primerica’s revenue was up .3% compared to the same quarter last year. On average, sell-side analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current fiscal 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 paid a $1.04 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $4.16 annualized dividend and a yield of 1.6%. Primerica’s dividend payout ratio is 20.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Jefferies Financial Group decreased their price objective on Primerica from $293.00 to $283.00 and set a “hold” rating on the stock in a research report on Monday. Keefe, Bruyette & Woods increased their price target on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a report on Monday. Finally, Morgan Stanley increased their price target on Primerica from $274.00 to $296.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $313.57.

Insider Transactions at Primerica

In related news, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was 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 $9,541,982.40. This represents a 6.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is currently 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.