Redwood Investment Management LLC Decreases Stake in Primerica, Inc. (NYSE:PRI)

Redwood Investment Management LLC decreased its position in shares of Primerica, Inc. (NYSE:PRI) by 13.5% in the fourth quarter, HoldingsChannel reports. The firm owned 5,270 shares of the financial services provider’s stock after selling 819 shares during the quarter. Redwood Investment Management LLC’s holdings in Primerica were worth $1,430,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PRI. Geode Capital Management LLC increased its holdings in shares of Primerica by 11.9% during the 4th quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider’s stock valued at $211,691,000 after purchasing an additional 82,921 shares in the last quarter. Northern Trust Corp increased its stake in Primerica by 15.6% during the 4th quarter. Northern Trust Corp now owns 347,040 shares of the financial services provider’s stock worth $94,194,000 after buying an additional 46,935 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Primerica by 1.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 230,736 shares of the financial services provider’s stock worth $62,626,000 after purchasing an additional 2,905 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Primerica by 0.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 159,774 shares of the financial services provider’s stock worth $43,366,000 after buying an additional 1,484 shares in the last quarter. Finally, FIL Ltd raised its holdings in Primerica by 85.5% in the 4th quarter. FIL Ltd now owns 131,365 shares of the financial services provider’s stock valued at $35,655,000 after acquiring an additional 60,565 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total value of $845,220.00. Following the sale, the chief executive officer now owns 33,322 shares of the company’s stock, valued at $9,388,140.28. This trade represents a 8.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total transaction of $65,555.10. Following the transaction, the insider now owns 200 shares of the company’s stock, valued at $56,030. This trade represents a 53.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,234 shares of company stock worth $1,476,575 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on PRI shares. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Morgan Stanley cut their price objective on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Keefe, Bruyette & Woods decreased their target price on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 9th. Finally, BMO Capital Markets began coverage on shares of Primerica in a research note on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price for the company. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $309.14.

Primerica Trading Up 0.9%

PRI stock opened at $275.62 on Friday. The business’s fifty day moving average price is $269.10 and its 200 day moving average price is $280.02. Primerica, Inc. has a 12-month low of $219.52 and a 12-month high of $307.91. The company has a market capitalization of $9.12 billion, a PE ratio of 20.05 and a beta of 1.02.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.77 by $0.25. The business had revenue of $803.56 million for the quarter, compared to analysts’ expectations of $783.54 million. Primerica had a net margin of 15.14% and a return on equity of 31.11%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.91 earnings per share. Research analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 22nd will be given a $1.04 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $4.16 annualized dividend and a yield of 1.51%. Primerica’s dividend payout ratio is presently 27.98%.

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.