Wellington Management Group LLP Purchases 10,020 Shares of Primerica, Inc. (NYSE:PRI)

Wellington Management Group LLP increased its position in Primerica, Inc. (NYSE:PRI) by 117.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 18,576 shares of the financial services provider’s stock after acquiring an additional 10,020 shares during the quarter. Wellington Management Group LLP owned about 0.05% of Primerica worth $3,822,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Primerica in the fourth quarter worth about $31,194,000. Los Angeles Capital Management LLC raised its holdings in Primerica by 47.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 125,585 shares of the financial services provider’s stock valued at $25,840,000 after acquiring an additional 40,647 shares during the period. Alps Advisors Inc. purchased a new stake in shares of Primerica during the third quarter worth $6,098,000. EULAV Asset Management boosted its holdings in shares of Primerica by 63.2% in the third quarter. EULAV Asset Management now owns 44,400 shares of the financial services provider’s stock worth $8,614,000 after acquiring an additional 17,200 shares during the period. Finally, Schroder Investment Management Group grew its position in shares of Primerica by 13.6% in the fourth quarter. Schroder Investment Management Group now owns 124,155 shares of the financial services provider’s stock valued at $25,546,000 after purchasing an additional 14,904 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors.

Primerica Trading Up 0.1 %

PRI stock opened at $236.58 on Friday. The company’s 50 day moving average is $225.24 and its 200 day moving average is $229.27. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 14.40 and a beta of 1.08. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $256.56.

Primerica (NYSE:PRI) last issued 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). Primerica had a return on equity of 27.35% and a net margin of 20.44%. The company had revenue of $742.83 million during the quarter, compared to the consensus estimate of $740.57 million. During the same period in the previous year, the company earned $3.49 EPS. Primerica’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts forecast that Primerica, Inc. will post 17.66 EPS for the current fiscal year.

Primerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st were given 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 payout ratio is 18.26%.

Insiders Place Their Bets

In other news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $222.76, for a total transaction of $668,280.00. Following the transaction, the chief executive officer now directly owns 48,322 shares in the company, valued at approximately $10,764,208.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Glenn J. Williams sold 3,000 shares of the company’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 completion of the sale, the chief executive officer now owns 48,322 shares of the company’s stock, valued at approximately $10,764,208.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 directly owns 11,759 shares in the company, valued at approximately $2,674,466.96. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PRI. Morgan Stanley raised their target price on Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods boosted their price objective on shares of Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Jefferies Financial Group upped their target price on shares of Primerica from $235.00 to $236.00 and gave the stock a “hold” rating in a report on Friday. Finally, StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Primerica currently has a consensus rating of “Hold” and a consensus target price of $255.25.

Primerica Company Profile

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.