Sei Investments Co. Has $20.95 Million Stake in Primerica, Inc. (NYSE:PRI)

Sei Investments Co. increased its stake in shares of Primerica, Inc. (NYSE:PRI) by 1.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 76,474 shares of the financial services provider’s stock after acquiring an additional 842 shares during the period. Sei Investments Co. owned 0.23% of Primerica worth $20,947,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in PRI. Nuveen LLC acquired a new position in shares of Primerica during the 1st quarter valued at about $156,019,000. GAMMA Investing LLC increased its holdings in shares of Primerica by 39,199.5% during the 1st quarter. GAMMA Investing LLC now owns 443,298 shares of the financial services provider’s stock valued at $126,132,000 after acquiring an additional 442,170 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Primerica during the 4th quarter worth about $34,191,000. AQR Capital Management LLC boosted its stake in Primerica by 254.5% during the 4th quarter. AQR Capital Management LLC now owns 116,271 shares of the financial services provider’s stock valued at $31,558,000 after purchasing an additional 83,477 shares during the period. Finally, Cubist Systematic Strategies LLC grew its holdings in Primerica by 2,508.8% in the 4th quarter. Cubist Systematic Strategies LLC now owns 57,499 shares of the financial services provider’s stock valued at $15,606,000 after buying an additional 55,295 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Stock Performance

Shares of PRI stock opened at $263.73 on Thursday. The stock has a market cap of $8.54 billion, a price-to-earnings ratio of 13.03 and a beta of 0.99. Primerica, Inc. has a 52-week low of $230.98 and a 52-week high of $307.91. The firm has a fifty day moving average of $265.22 and a 200-day moving average of $271.54.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $5.46 EPS for the quarter, topping the consensus estimate of $5.18 by $0.28. The business had revenue of $796.02 million during the quarter, compared to the consensus estimate of $790.99 million. Primerica had a return on equity of 32.42% and a net margin of 21.48%. Primerica’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the company earned $4.71 EPS. On average, sell-side analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 22nd will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, August 22nd. Primerica’s dividend payout ratio (DPR) is 20.55%.

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $262.20, for a total transaction of $655,500.00. Following the completion of the transaction, the chief executive officer owned 36,392 shares in the company, valued at $9,541,982.40. This trade represents a 6.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PRI has been the topic of a number of research analyst reports. Morgan Stanley raised their target price on Primerica from $274.00 to $296.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Jefferies Financial Group lowered their target price on Primerica from $293.00 to $283.00 and set a “hold” rating on the stock in a report on Monday. Finally, Keefe, Bruyette & Woods raised their target price on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a report on Monday. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $313.57.

Primerica Company 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.