Royal London Asset Management Ltd. Raises Stake in Primerica, Inc. (PRI)

Royal London Asset Management Ltd. lifted its position in Primerica, Inc. (NYSE:PRI) by 131.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,075 shares of the financial services provider’s stock after purchasing an additional 14,226 shares during the quarter. Royal London Asset Management Ltd. owned about 0.06% of Primerica worth $3,022,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. grew its stake in shares of Primerica by 2.9% in the first quarter. Principal Financial Group Inc. now owns 196,452 shares of the financial services provider’s stock worth $18,977,000 after acquiring an additional 5,546 shares during the last quarter. Atria Investments LLC acquired a new stake in shares of Primerica in the second quarter worth $211,000. Bank of Montreal Can grew its stake in shares of Primerica by 47.3% in the second quarter. Bank of Montreal Can now owns 9,377 shares of the financial services provider’s stock worth $934,000 after acquiring an additional 3,010 shares during the last quarter. Amalgamated Bank grew its stake in shares of Primerica by 11.9% in the second quarter. Amalgamated Bank now owns 7,133 shares of the financial services provider’s stock worth $710,000 after acquiring an additional 758 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of Primerica by 5.0% in the second quarter. Janney Montgomery Scott LLC now owns 31,561 shares of the financial services provider’s stock worth $3,143,000 after acquiring an additional 1,505 shares during the last quarter. 90.52% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have weighed in on PRI. Zacks Investment Research upgraded shares of Primerica from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a research note on Wednesday, November 14th. SunTrust Banks lifted their price target on shares of Primerica to $118.00 and gave the stock a “hold” rating in a research note on Monday, July 30th. ValuEngine downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. Finally, Citigroup downgraded shares of Primerica from a “neutral” rating to a “sell” rating and lifted their price target for the stock from $100.00 to $108.00 in a research note on Tuesday, September 18th. One 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 company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $114.40.

In other Primerica news, VP Gregory C. Pitts sold 2,449 shares of Primerica stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $122.28, for a total transaction of $299,463.72. Following the completion of the transaction, the vice president now directly owns 12,609 shares of the company’s stock, valued at $1,541,828.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William A. Kelly sold 1,250 shares of Primerica stock in a transaction on Monday, September 17th. The shares were sold at an average price of $126.78, for a total value of $158,475.00. Following the transaction, the insider now directly owns 15,272 shares of the company’s stock, valued at $1,936,184.16. The disclosure for this sale can be found here. Insiders have sold 17,712 shares of company stock worth $2,138,806 in the last quarter. Corporate insiders own 0.89% of the company’s stock.

PRI opened at $115.25 on Monday. Primerica, Inc. has a fifty-two week low of $90.05 and a fifty-two week high of $128.35. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 20.88 and a beta of 1.16.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Tuesday, November 6th. The financial services provider reported $1.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.86 by $0.07. Primerica had a net margin of 21.88% and a return on equity of 21.72%. The firm had revenue of $484.78 million for the quarter, compared to the consensus estimate of $478.87 million. During the same quarter in the previous year, the company earned $1.46 earnings per share. The business’s revenue was up 13.5% compared to the same quarter last year. Equities analysts forecast that Primerica, Inc. will post 7.22 EPS for the current fiscal year.

The firm 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 of this dividend is Monday, November 19th. This represents a $1.00 dividend on an annualized basis and a yield of 0.87%. Primerica’s dividend payout ratio is currently 18.12%.

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Primerica Profile

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.

Further Reading: Market Capitalization in the Stock Market

Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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