EP Wealth Advisors LLC Reduces Stake in Primerica, Inc. (NYSE:PRI)

EP Wealth Advisors LLC reduced its position in Primerica, Inc. (NYSE:PRI) by 53.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,457 shares of the financial services provider’s stock after selling 1,697 shares during the period. EP Wealth Advisors LLC’s holdings in Primerica were worth $300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of PRI. UBS Group AG boosted its stake in shares of Primerica by 5.7% in the 3rd quarter. UBS Group AG now owns 10,656 shares of the financial services provider’s stock worth $2,067,000 after buying an additional 579 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Primerica in the 3rd quarter worth $386,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Primerica in the 3rd quarter worth $492,000. Envestnet Asset Management Inc. lifted its position in Primerica by 48.6% during the third quarter. Envestnet Asset Management Inc. now owns 61,535 shares of the financial services provider’s stock valued at $11,938,000 after purchasing an additional 20,137 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Primerica by 110.6% during the third quarter. Invesco Ltd. now owns 449,459 shares of the financial services provider’s stock valued at $87,200,000 after purchasing an additional 236,051 shares in the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Primerica Stock Up 3.4 %

NYSE:PRI opened at $235.59 on Thursday. The business’s 50-day simple moving average is $222.29 and its two-hundred day simple moving average is $228.06. The stock has a market cap of $8.11 billion, a PE ratio of 14.34 and a beta of 1.08. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $256.56.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Monday, May 6th. The financial services provider reported $3.91 EPS for the quarter, missing analysts’ consensus estimates of $4.12 by ($0.21). The business had revenue of $742.83 million for the quarter, compared to the consensus estimate of $740.57 million. Primerica had a net margin of 20.44% and a return on equity of 27.35%. Primerica’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.49 earnings per share. Sell-side analysts anticipate that Primerica, Inc. will post 17.66 earnings per share for the current fiscal year.

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $3.00 dividend on an annualized basis and a yield of 1.27%. Primerica’s dividend payout ratio is presently 18.26%.

Wall Street Analyst Weigh In

PRI has been the topic of several analyst reports. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Morgan Stanley lifted their target price on Primerica from $245.00 to $250.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Finally, Keefe, Bruyette & Woods lifted their target price on Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $245.50.

Insider Buying and Selling at Primerica

In related news, President Peter W. Schneider sold 1,500 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $227.44, for a total value of $341,160.00. Following the sale, the president now directly owns 11,759 shares in the company, valued at $2,674,466.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $222.76, for a total value of $668,280.00. Following the sale, the chief executive officer now owns 48,322 shares in the company, valued at $10,764,208.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Peter W. Schneider sold 1,500 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $227.44, for a total transaction of $341,160.00. Following the transaction, the president now owns 11,759 shares of the company’s stock, valued at approximately $2,674,466.96. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

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.