Retirement Systems of Alabama Trims Position in Primerica, Inc. (PRI)

Retirement Systems of Alabama reduced its position in Primerica, Inc. (NYSE:PRI) by 48.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,733 shares of the financial services provider’s stock after selling 53,425 shares during the quarter. Retirement Systems of Alabama’s holdings in Primerica were worth $6,719,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PRI. Atria Investments LLC bought a new position in Primerica in the second quarter worth $211,000. Raymond James Financial Services Advisors Inc. bought a new position in Primerica in the second quarter worth $212,000. New England Asset Management Inc. bought a new position in Primerica in the second quarter worth $377,000. LPL Financial LLC bought a new position in Primerica in the first quarter worth $392,000. Finally, Dynamic Advisor Solutions LLC bought a new position in Primerica in the second quarter worth $393,000. 88.55% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE PRI opened at $113.47 on Friday. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of 17.57 and a beta of 1.16. Primerica, Inc. has a 52-week low of $87.80 and a 52-week high of $128.35.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Tuesday, August 7th. The financial services provider reported $1.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.81 by $0.12. The company had revenue of $467.82 million during the quarter, compared to analysts’ expectations of $466.82 million. Primerica had a return on equity of 21.07% and a net margin of 21.55%. During the same period last year, the business earned $1.36 earnings per share. On average, equities research analysts anticipate that Primerica, Inc. will post 7.18 EPS for the current year.

In other Primerica news, insider William A. Kelly sold 1,250 shares of Primerica stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $118.23, for a total transaction of $147,787.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $120.63, for a total value of $361,890.00. Following the completion of the transaction, the chief executive officer now directly owns 68,287 shares of the company’s stock, valued at $8,237,460.81. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,962 shares of company stock valued at $1,937,964. Company insiders own 0.89% of the company’s stock.

Several research analysts recently commented on PRI shares. Zacks Investment Research raised Primerica from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research report on Saturday, August 11th. Citigroup cut Primerica from a “neutral” rating to a “sell” rating and raised their target price for the stock from $100.00 to $108.00 in a research report on Tuesday, September 18th. ValuEngine raised Primerica from a “hold” rating to a “buy” rating in a research report on Saturday, July 28th. SunTrust Banks raised their target price on Primerica to $118.00 and gave the stock a “hold” rating in a research report on Monday, July 30th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $112.00 target price on shares of Primerica in a research report on Thursday, July 19th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Primerica has a consensus rating of “Hold” and a consensus price target of $114.40.

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: Fundamental Analysis – How It Helps Investors

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Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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