Redwood Investment Management LLC Trims Position in Primerica, Inc. (NYSE:PRI)

Redwood Investment Management LLC lowered its stake in shares of Primerica, Inc. (NYSE:PRI) by 13.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,926 shares of the financial services provider’s stock after selling 919 shares during the period. Redwood Investment Management LLC’s holdings in Primerica were worth $1,499,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Intech Investment Management LLC grew its holdings in Primerica by 1.4% during the 4th quarter. Intech Investment Management LLC now owns 3,924 shares of the financial services provider’s stock valued at $807,000 after purchasing an additional 55 shares in the last quarter. Retirement Systems of Alabama boosted its stake in Primerica by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 43,994 shares of the financial services provider’s stock valued at $11,129,000 after acquiring an additional 116 shares during the last quarter. ORG Partners LLC bought a new position in Primerica during the 4th quarter valued at $26,000. Atria Wealth Solutions Inc. boosted its stake in Primerica by 10.2% during the 4th quarter. Atria Wealth Solutions Inc. now owns 1,409 shares of the financial services provider’s stock valued at $290,000 after acquiring an additional 130 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in Primerica by 5.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,673 shares of the financial services provider’s stock valued at $550,000 after acquiring an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Insider Buying and Selling

In other Primerica 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 transaction of $341,160.00. Following the transaction, the president now owns 11,759 shares of the company’s stock, valued at approximately $2,674,466.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, 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 sale, the chief executive officer now directly owns 48,322 shares in the company, valued at approximately $10,764,208.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $227.44, for a total value of $341,160.00. Following the sale, the president now owns 11,759 shares of the company’s stock, valued at $2,674,466.96. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by company insiders.

Primerica Trading Up 1.4 %

NYSE:PRI traded up $3.57 during mid-day trading on Thursday, reaching $255.34. 13,564 shares of the stock were exchanged, compared to its average volume of 166,638. The business has a fifty day moving average price of $235.73 and a 200 day moving average price of $235.04. The firm has a market capitalization of $8.79 billion, a PE ratio of 15.32 and a beta of 1.09. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $256.56.

Primerica (NYSE:PRI) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $740.57 million. Primerica had a return on equity of 27.35% and a net margin of 20.44%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.49 EPS. On average, sell-side analysts forecast that Primerica, Inc. will post 17.73 earnings per share for the current year.

Primerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 21st were paid a $0.75 dividend. The ex-dividend date was Monday, May 20th. This represents a $3.00 dividend on an annualized basis and a yield of 1.17%. Primerica’s dividend payout ratio is currently 18.26%.

Wall Street Analysts Forecast Growth

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

About Primerica

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.