Pitcairn Co. Sells 143 Shares of Primerica, Inc. (PRI)

Pitcairn Co. reduced its stake in shares of Primerica, Inc. (NYSE:PRI) by 4.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,302 shares of the financial services provider’s stock after selling 143 shares during the period. Pitcairn Co.’s holdings in Primerica were worth $250,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Teacher Retirement System of Texas raised its position in Primerica by 1.9% in the second quarter. Teacher Retirement System of Texas now owns 3,669 shares of the financial services provider’s stock valued at $278,000 after buying an additional 69 shares during the last quarter. Arizona State Retirement System raised its position in Primerica by 1.1% in the second quarter. Arizona State Retirement System now owns 19,200 shares of the financial services provider’s stock valued at $1,454,000 after buying an additional 200 shares during the last quarter. Texas Permanent School Fund raised its position in Primerica by 0.4% in the second quarter. Texas Permanent School Fund now owns 33,221 shares of the financial services provider’s stock valued at $2,516,000 after buying an additional 133 shares during the last quarter. World Asset Management Inc raised its position in Primerica by 0.6% in the second quarter. World Asset Management Inc now owns 2,856 shares of the financial services provider’s stock valued at $216,000 after buying an additional 18 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its position in Primerica by 13.7% in the second quarter. Great West Life Assurance Co. Can now owns 40,845 shares of the financial services provider’s stock valued at $3,091,000 after buying an additional 4,929 shares during the last quarter. 96.76% of the stock is currently owned by institutional investors.

Primerica, Inc. (NYSE PRI) opened at 76.85 on Friday. The company’s 50-day moving average is $79.21 and its 200 day moving average is $79.20. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 15.65 and a beta of 1.14. Primerica, Inc. has a 1-year low of $52.50 and a 1-year high of $86.45.

Primerica (NYSE:PRI) last announced its earnings results on Tuesday, August 8th. The financial services provider reported $1.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.01. Primerica had a return on equity of 18.48% and a net margin of 14.41%. The business had revenue of $413.70 million for the quarter, compared to analysts’ expectations of $410.97 million. During the same period in the prior year, the business posted $1.23 earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis. On average, equities analysts predict that Primerica, Inc. will post $5.22 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 18th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This is a boost from Primerica’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.04%. Primerica’s dividend payout ratio is presently 16.33%.

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Several research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Primerica from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Wells Fargo & Company reissued a “hold” rating on shares of Primerica in a research note on Tuesday, August 8th. BidaskClub raised shares of Primerica from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $83.00 price objective on shares of Primerica in a research note on Friday, June 23rd. Finally, William Blair lowered shares of Primerica from an “outperform” rating to a “market perform” rating in a research note on Friday, April 21st. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $83.75.

In other Primerica news, VP Alison S. Rand sold 2,000 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $71.55, for a total transaction of $143,100.00. Following the transaction, the vice president now directly owns 37,385 shares in the company, valued at approximately $2,674,896.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $80.68, for a total value of $242,040.00. Following the transaction, the chief executive officer now owns 77,895 shares in the company, valued at $6,284,568.60. The disclosure for this sale can be found here. Corporate insiders own 1.24% of the company’s stock.

About Primerica

Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance company subsidiaries.

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Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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