Edgestream Partners L.P. Makes New Investment in Primerica, Inc. (NYSE:PRI)

Edgestream Partners L.P. acquired a new stake in shares of Primerica, Inc. (NYSE:PRI) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,870 shares of the financial services provider’s stock, valued at approximately $979,000.

A number of other hedge funds have also recently made changes to their positions in PRI. Lyrical Asset Management LP boosted its stake in Primerica by 1.5% during the 4th quarter. Lyrical Asset Management LP now owns 663,783 shares of the financial services provider’s stock valued at $136,580,000 after purchasing an additional 9,923 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in shares of Primerica by 4.2% during the fourth quarter. Westfield Capital Management Co. LP now owns 229,084 shares of the financial services provider’s stock valued at $47,136,000 after buying an additional 9,198 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Primerica by 5.0% during the first quarter. Principal Financial Group Inc. now owns 218,324 shares of the financial services provider’s stock valued at $55,227,000 after buying an additional 10,354 shares during the last quarter. Norges Bank bought a new stake in Primerica during the fourth quarter worth $31,194,000. Finally, Los Angeles Capital Management LLC raised its position in Primerica by 47.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 125,585 shares of the financial services provider’s stock valued at $25,840,000 after buying an additional 40,647 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Stock Up 0.4 %

PRI traded up $1.06 during trading on Tuesday, hitting $250.98. 14,845 shares of the company traded hands, compared to its average volume of 167,890. Primerica, Inc. has a one year low of $184.76 and a one year high of $256.56. The stock’s fifty day moving average is $232.50 and its 200 day moving average is $233.34. The firm has a market cap of $8.64 billion, a P/E ratio of 15.21 and a beta of 1.09.

Primerica (NYSE:PRI) last released its earnings results on Monday, May 6th. The financial services provider reported $3.91 earnings per share for the quarter, missing analysts’ consensus estimates of $4.12 by ($0.21). The company had revenue of $742.83 million for the quarter, compared to the consensus estimate of $740.57 million. Primerica had a net margin of 20.44% and a return on equity of 27.35%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.49 earnings per share. On average, equities research analysts forecast that Primerica, Inc. will post 17.73 EPS for the current fiscal year.

Primerica Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Monday, May 20th. Primerica’s dividend payout ratio is currently 18.26%.

Insider Buying and Selling at Primerica

In related news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $227.44, for a total value of $341,160.00. Following the completion of the sale, the president now owns 11,759 shares of the company’s stock, valued at approximately $2,674,466.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Primerica news, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $227.44, for a total transaction of $341,160.00. Following the sale, the president now directly owns 11,759 shares of the company’s stock, valued at $2,674,466.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $222.76, for a total transaction of $668,280.00. Following the completion of the transaction, the chief executive officer now owns 48,322 shares of the company’s stock, valued at approximately $10,764,208.72. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PRI. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Jefferies Financial Group raised their price target on shares of Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Keefe, Bruyette & Woods upped their price objective on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 17th. Finally, Morgan Stanley dropped their target price on shares of Primerica from $245.00 to $243.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $260.50.

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.