Arrowstreet Capital Limited Partnership Cuts Holdings in Primerica, Inc. (NYSE:PRI)

Arrowstreet Capital Limited Partnership reduced its position in shares of Primerica, Inc. (NYSE:PRI) by 85.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,900 shares of the financial services provider’s stock after selling 84,000 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Primerica were worth $1,412,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Virtu Financial LLC bought a new position in shares of Primerica in the fourth quarter valued at approximately $492,000. UBS Asset Management Americas Inc. grew its holdings in shares of Primerica by 2.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 29,105 shares of the financial services provider’s stock valued at $2,956,000 after acquiring an additional 815 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Primerica by 0.9% in the fourth quarter. BlackRock Inc. now owns 4,679,499 shares of the financial services provider’s stock valued at $475,203,000 after acquiring an additional 39,870 shares in the last quarter. Schroder Investment Management Group grew its holdings in shares of Primerica by 481.7% in the fourth quarter. Schroder Investment Management Group now owns 161,100 shares of the financial services provider’s stock valued at $16,360,000 after acquiring an additional 133,404 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new position in shares of Primerica in the fourth quarter valued at approximately $234,000. 91.47% of the stock is currently owned by institutional investors and hedge funds.

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NYSE PRI traded down $1.80 during trading hours on Monday, reaching $94.80. 254,881 shares of the stock traded hands, compared to its average volume of 208,603. Primerica, Inc. has a 1 year low of $70.00 and a 1 year high of $108.05. The company has a market capitalization of $4,280.50, a price-to-earnings ratio of 17.17, a PEG ratio of 1.33 and a beta of 1.13.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $1.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.17. Primerica had a return on equity of 19.47% and a net margin of 20.74%. The business had revenue of $442.94 million for the quarter, compared to the consensus estimate of $435.87 million. During the same quarter last year, the business posted $1.19 earnings per share. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. analysts expect that Primerica, Inc. will post 7.24 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Thursday, February 15th were paid a dividend of $0.25 per share. This is a boost from Primerica’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Wednesday, February 14th. Primerica’s dividend payout ratio (DPR) is 18.12%.

Primerica announced that its board has authorized a stock buyback plan on Wednesday, February 7th that permits the company to buyback $225.00 million in outstanding shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Several equities analysts have weighed in on PRI shares. Wells Fargo set a $102.00 price objective on Primerica and gave the company a “hold” rating in a report on Wednesday, February 7th. Zacks Investment Research lowered Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 27th. ValuEngine raised Primerica from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, SunTrust Banks raised their price target on Primerica to $112.00 and gave the stock a “hold” rating in a report on Monday, January 22nd. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $101.25.

In related news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $98.67, for a total value of $296,010.00. Following the sale, the chief executive officer now directly owns 63,095 shares of the company’s stock, valued at $6,225,583.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert F. Mccullough sold 500 shares of the firm’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $95.90, for a total value of $47,950.00. Following the completion of the sale, the director now directly owns 18,585 shares in the company, valued at $1,782,301.50. The disclosure for this sale can be found here. Insiders have sold 17,482 shares of company stock worth $1,770,883 over the last ninety days. Insiders own 0.86% of the company’s stock.

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About Primerica

Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance company subsidiaries.

Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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