OppenheimerFunds Inc. Acquires 1,953 Shares of Primerica, Inc. (NYSE:PRI)

OppenheimerFunds Inc. boosted its holdings in Primerica, Inc. (NYSE:PRI) by 0.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 320,268 shares of the financial services provider’s stock after buying an additional 1,953 shares during the quarter. OppenheimerFunds Inc.’s holdings in Primerica were worth $39,121,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Nisa Investment Advisors LLC boosted its stake in Primerica by 1.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 8,280 shares of the financial services provider’s stock worth $1,011,000 after purchasing an additional 100 shares during the period. TD Asset Management Inc. boosted its stake in Primerica by 2.5% in the 4th quarter. TD Asset Management Inc. now owns 4,532 shares of the financial services provider’s stock worth $443,000 after purchasing an additional 110 shares during the period. Mason Street Advisors LLC boosted its stake in Primerica by 0.7% in the 1st quarter. Mason Street Advisors LLC now owns 22,644 shares of the financial services provider’s stock worth $2,766,000 after purchasing an additional 153 shares during the period. Crossmark Global Holdings Inc. boosted its stake in Primerica by 2.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 6,733 shares of the financial services provider’s stock worth $822,000 after purchasing an additional 170 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its stake in Primerica by 169.9% in the 1st quarter. Rockefeller Capital Management L.P. now owns 305 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 192 shares during the period. Hedge funds and other institutional investors own 89.82% of the company’s stock.

A number of brokerages have issued reports on PRI. Credit Suisse Group lifted their target price on shares of Primerica from $135.00 to $148.00 and gave the company an “outperform” rating in a research note on Monday, March 18th. Citigroup set a $108.00 target price on shares of Primerica and gave the company a “sell” rating in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Primerica presently has an average rating of “Hold” and a consensus target price of $123.60.

Shares of NYSE:PRI traded down $0.42 during trading on Wednesday, reaching $121.86. 1,944 shares of the company traded hands, compared to its average volume of 201,241. The firm has a market capitalization of $5.18 billion, a P/E ratio of 16.58 and a beta of 1.46. Primerica, Inc. has a 1-year low of $90.28 and a 1-year high of $132.17. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.04.

Primerica (NYSE:PRI) last issued its earnings results on Tuesday, May 7th. The financial services provider reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.03. The company had revenue of $494.99 million during the quarter, compared to analyst estimates of $498.57 million. Primerica had a net margin of 17.44% and a return on equity of 22.89%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the business posted $1.47 EPS. Equities research analysts expect that Primerica, Inc. will post 8.13 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 22nd will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.12%. Primerica’s dividend payout ratio is currently 18.55%.

In other news, Director John A. Jr. Addison sold 3,249 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $122.85, for a total transaction of $399,139.65. Following the transaction, the director now owns 20,359 shares in the company, valued at approximately $2,501,103.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $115.02, for a total transaction of $230,040.00. Following the transaction, the president now owns 32,790 shares in the company, valued at approximately $3,771,505.80. The disclosure for this sale can be found here. Insiders have sold a total of 13,249 shares of company stock worth $1,609,200 in the last 90 days. 0.84% of the stock is owned by insiders.

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Primerica Company Profile

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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