Primerica, Inc. (NYSE:PRI) Shares Sold by Vaughan David Investments LLC IL

Vaughan David Investments LLC IL lowered its holdings in Primerica, Inc. (NYSE:PRI) by 22.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 931 shares of the financial services provider’s stock after selling 263 shares during the quarter. Vaughan David Investments LLC IL’s holdings in Primerica were worth $236,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PRI. ORG Partners LLC acquired a new position in Primerica in the fourth quarter worth approximately $26,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Primerica by 493.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 148 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Primerica during the fourth quarter worth $133,000. O Dell Group LLC purchased a new stake in shares of Primerica during the fourth quarter valued at $153,000. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Primerica in the 1st quarter valued at $163,000. 90.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica 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 completion of the sale, 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 SEC, which can be accessed through this link. In other Primerica news, 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 of the company’s stock, valued at $2,674,466.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Glenn J. Williams sold 3,000 shares of the firm’s 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 transaction, the chief executive officer now owns 48,322 shares in the company, valued at $10,764,208.72. The disclosure for this sale can be found here. Insiders own 0.85% of the company’s stock.

Primerica Stock Performance

Shares of NYSE PRI traded down $3.10 during mid-day trading on Wednesday, reaching $248.26. The company had a trading volume of 132,223 shares, compared to its average volume of 168,469. The stock has a fifty day moving average of $233.49 and a two-hundred day moving average of $233.75. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $256.56. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 15.11 and a beta of 1.09.

Primerica (NYSE:PRI) last issued its earnings results on Monday, May 6th. The financial services provider reported $3.91 earnings per share (EPS) 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 company had revenue of $742.83 million for the quarter, compared to analyst estimates of $740.57 million. During the same period last year, the business earned $3.49 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Sell-side analysts forecast that Primerica, Inc. will post 17.73 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.21%. The ex-dividend date was Monday, May 20th. Primerica’s payout ratio is currently 18.26%.

Analyst Ratings Changes

Several research firms have issued reports on PRI. Morgan Stanley cut their price objective on Primerica from $245.00 to $243.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Keefe, Bruyette & Woods raised 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, July 17th. Finally, Jefferies Financial Group lifted their price objective on shares of Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $260.50.

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.