Primerica, Inc. (PRI) Shares Bought by Parkwood LLC

Parkwood LLC grew its stake in Primerica, Inc. (NYSE:PRI) by 8.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,183 shares of the financial services provider’s stock after acquiring an additional 3,130 shares during the quarter. Parkwood LLC owned about 0.09% of Primerica worth $4,603,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Atria Investments LLC purchased a new stake in shares of Primerica in the second quarter valued at $211,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Primerica in the second quarter valued at $212,000. American Century Companies Inc. purchased a new stake in shares of Primerica in the third quarter valued at $224,000. D.A. Davidson & CO. purchased a new stake in shares of Primerica in the third quarter valued at $234,000. Finally, Advisors Preferred LLC purchased a new stake in shares of Primerica in the third quarter valued at $299,000. Institutional investors and hedge funds own 90.52% of the company’s stock.

Shares of NYSE:PRI opened at $115.25 on Monday. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 20.88 and a beta of 1.16. Primerica, Inc. has a 12 month low of $90.05 and a 12 month high of $128.35.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Tuesday, November 6th. The financial services provider reported $1.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.07. The company had revenue of $484.78 million during the quarter, compared to analyst estimates of $478.87 million. Primerica had a return on equity of 21.72% and a net margin of 21.88%. The firm’s revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.46 earnings per share. Sell-side analysts anticipate that Primerica, Inc. will post 7.22 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Tuesday, November 20th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, November 19th. This represents a $1.00 annualized dividend and a yield of 0.87%. Primerica’s dividend payout ratio is presently 18.12%.

In other Primerica news, CFO Alison S. Rand sold 2,000 shares of the stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $121.35, for a total transaction of $242,700.00. Following the transaction, the chief financial officer now owns 22,861 shares of the company’s stock, valued at approximately $2,774,182.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider William A. Kelly sold 856 shares of the stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $109.93, for a total value of $94,100.08. Following the transaction, the insider now directly owns 14,416 shares in the company, valued at approximately $1,584,750.88. The disclosure for this sale can be found here. Insiders have sold 17,712 shares of company stock valued at $2,138,806 over the last 90 days. 0.89% of the stock is currently owned by insiders.

PRI has been the topic of several recent research reports. Zacks Investment Research upgraded Primerica from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a research report on Wednesday, November 14th. SunTrust Banks upped their target price on Primerica to $118.00 and gave the company a “hold” rating in a research note on Monday, July 30th. ValuEngine lowered Primerica from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. Finally, Citigroup lowered Primerica from a “neutral” rating to a “sell” rating and upped their price target for the stock from $100.00 to $108.00 in a research note on Tuesday, September 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $114.40.

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About Primerica

Primerica, Inc, together with its subsidiaries, distributes 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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