Primerica, Inc. (NYSE:PRI) Shares Sold by Millennium Management LLC

Millennium Management LLC decreased its holdings in shares of Primerica, Inc. (NYSE:PRI) by 61.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 240,207 shares of the financial services provider’s stock after selling 383,053 shares during the period. Millennium Management LLC’s holdings in Primerica were worth $65,197,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PRI. Geode Capital Management LLC increased its holdings in Primerica by 11.9% in the 4th quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider’s stock worth $211,691,000 after acquiring an additional 82,921 shares in the last quarter. Northern Trust Corp grew its position in shares of Primerica by 15.6% in the fourth quarter. Northern Trust Corp now owns 347,040 shares of the financial services provider’s stock valued at $94,194,000 after purchasing an additional 46,935 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in shares of Primerica by 1.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 230,736 shares of the financial services provider’s stock worth $62,626,000 after purchasing an additional 2,905 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Primerica by 0.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 159,774 shares of the financial services provider’s stock worth $43,366,000 after purchasing an additional 1,484 shares during the last quarter. Finally, FIL Ltd lifted its stake in Primerica by 85.5% in the 4th quarter. FIL Ltd now owns 131,365 shares of the financial services provider’s stock valued at $35,655,000 after buying an additional 60,565 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Wall Street Analysts Forecast Growth

PRI has been the subject of several research reports. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Morgan Stanley lowered their price target on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. BMO Capital Markets started coverage on Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective for the company. Finally, Keefe, Bruyette & Woods decreased their price objective on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a report on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $309.14.

Insider Activity

In other news, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total value of $65,555.10. Following the completion of the sale, the insider now owns 200 shares of the company’s stock, valued at $56,030. This represents a 53.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the sale, the chief executive officer now owns 33,322 shares of the company’s stock, valued at $9,388,140.28. This represents a 8.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,234 shares of company stock valued at $1,476,575. 0.61% of the stock is currently owned by insiders.

Primerica Price Performance

Shares of Primerica stock opened at $275.62 on Friday. The stock’s 50 day simple moving average is $269.10 and its 200-day simple moving average is $280.02. The stock has a market cap of $9.12 billion, a P/E ratio of 20.05 and a beta of 1.02. Primerica, Inc. has a 1-year low of $219.52 and a 1-year high of $307.91.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.02 EPS for the quarter, topping analysts’ consensus estimates of $4.77 by $0.25. The firm had revenue of $803.56 million for the quarter, compared to the consensus estimate of $783.54 million. Primerica had a return on equity of 31.11% and a net margin of 15.14%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.91 earnings per share. As a group, research analysts expect that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 22nd will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, May 22nd. This represents a $4.16 annualized dividend and a dividend yield of 1.51%. Primerica’s dividend payout ratio is presently 27.98%.

Primerica Profile

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.