State Treasurer State of Michigan Cuts Stock Holdings in Primerica, Inc. (NYSE:PRI)

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State Treasurer State of Michigan lowered its stake in Primerica, Inc. (NYSE:PRI) by 17.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 12,500 shares of the financial services provider’s stock after selling 2,700 shares during the quarter. State Treasurer State of Michigan’s holdings in Primerica were worth $1,499,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Advisory Services Network LLC raised its stake in Primerica by 176.8% during the 1st quarter. Advisory Services Network LLC now owns 263 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 168 shares in the last quarter. TCI Wealth Advisors Inc. raised its position in shares of Primerica by 50.0% during the second quarter. TCI Wealth Advisors Inc. now owns 300 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 100 shares during the period. Quadrant Capital Group LLC raised its position in shares of Primerica by 1,389.7% during the first quarter. Quadrant Capital Group LLC now owns 432 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 403 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Primerica during the second quarter worth $80,000. Finally, Quantamental Technologies LLC grew its holdings in shares of Primerica by 4,705.9% during the first quarter. Quantamental Technologies LLC now owns 817 shares of the financial services provider’s stock valued at $100,000 after buying an additional 800 shares in the last quarter. 91.54% of the stock is currently owned by hedge funds and other institutional investors.

PRI has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Primerica from a “hold” rating to a “buy” rating and set a $128.00 price target on the stock in a report on Tuesday. Citigroup set a $108.00 target price on Primerica and gave the company a “sell” rating in a research note on Thursday, May 23rd.

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $121.84, for a total value of $365,520.00. Following the completion of the transaction, the chief executive officer now owns 72,620 shares of the company’s stock, valued at approximately $8,848,020.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $115.02, for a total value of $230,040.00. Following the completion of the transaction, the president now directly owns 32,790 shares of the company’s stock, valued at approximately $3,771,505.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,000 shares of company stock valued at $834,940. 0.84% of the stock is currently owned by corporate insiders.

NYSE PRI traded down $1.11 on Tuesday, reaching $109.53. The stock had a trading volume of 8,513 shares, compared to its average volume of 218,259. The firm has a 50 day simple moving average of $121.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.55 and a quick ratio of 0.57. Primerica, Inc. has a 1 year low of $90.28 and a 1 year high of $132.17. The company has a market capitalization of $4.68 billion, a P/E ratio of 15.30 and a beta of 1.39.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.07. Primerica had a return on equity of 22.77% and a net margin of 17.66%. The firm had revenue of $504.90 million for the quarter, compared to the consensus estimate of $503.84 million. During the same quarter in the previous year, the company posted $1.93 earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, research analysts forecast that Primerica, Inc. will post 8.2 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.36 annualized dividend and a dividend yield of 1.24%. Primerica’s dividend payout ratio (DPR) is presently 18.55%.

About Primerica

Primerica, Inc, together with its subsidiaries, provides financial products to middle income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.

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Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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