Primerica, Inc. (NYSE:PRI) Shares Sold by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP decreased its stake in shares of Primerica, Inc. (NYSE:PRI) by 0.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 228,650 shares of the financial services provider’s stock after selling 434 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Primerica were worth $57,839,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. ORG Partners LLC acquired a new position in Primerica during the 4th quarter valued at approximately $26,000. Benjamin F. Edwards & Company Inc. increased its stake in Primerica by 493.3% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 148 shares in the last quarter. GAMMA Investing LLC acquired a new position in Primerica during the 4th quarter valued at approximately $133,000. O Dell Group LLC acquired a new position in Primerica during the 4th quarter valued at approximately $153,000. Finally, Fidelis Capital Partners LLC acquired a new position in Primerica during the 1st quarter valued at approximately $163,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insider Activity

In other news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $227.44, for a total value of $341,160.00. Following the sale, the president now owns 11,759 shares in the company, valued at $2,674,466.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated 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 SEC, which can be accessed through the SEC website. Also, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $227.44, for a total transaction of $341,160.00. Following the completion of the sale, the president now owns 11,759 shares in the company, valued at approximately $2,674,466.96. The disclosure for this sale can be found here. Company insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

PRI has been the topic of a number of recent analyst reports. Jefferies Financial Group upped their price target on shares of Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research note on Thursday. Keefe, Bruyette & Woods increased their price objective on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research note on Wednesday. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, Morgan Stanley cut their price objective on shares of Primerica from $245.00 to $243.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Primerica currently has an average rating of “Hold” and an average target price of $260.50.

Primerica Trading Down 1.2 %

PRI traded down $2.90 on Friday, reaching $248.55. The stock had a trading volume of 119,536 shares, compared to its average volume of 193,190. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $256.56. The business’s 50-day moving average price is $231.98 and its two-hundred day moving average price is $232.85. The company has a market cap of $8.55 billion, a P/E ratio of 15.13 and a beta of 1.09.

Primerica (NYSE:PRI) last released its quarterly earnings data on Monday, May 6th. The financial services provider reported $3.91 earnings per share for the quarter, missing analysts’ consensus estimates of $4.12 by ($0.21). Primerica had a net margin of 20.44% and a return on equity of 27.35%. The firm had revenue of $742.83 million during the quarter, compared to analysts’ expectations of $740.57 million. During the same period in the previous year, the firm posted $3.49 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, analysts predict that Primerica, Inc. will post 17.73 earnings per share for the current year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st were issued a $0.75 dividend. 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 1.21%. Primerica’s payout ratio is 18.26%.

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.