Wealth Alliance Decreases Stock Holdings in Primerica, Inc. (NYSE:PRI)

Wealth Alliance decreased its holdings in Primerica, Inc. (NYSE:PRIFree Report) by 6.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,598 shares of the financial services provider’s stock after selling 106 shares during the period. Wealth Alliance’s holdings in Primerica were worth $310,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Primerica by 0.6% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,907,117 shares of the financial services provider’s stock worth $672,962,000 after purchasing an additional 24,125 shares during the last quarter. BlackRock Inc. lifted its position in shares of Primerica by 0.4% during the 1st quarter. BlackRock Inc. now owns 3,277,573 shares of the financial services provider’s stock worth $564,529,000 after purchasing an additional 12,990 shares during the last quarter. Moneta Group Investment Advisors LLC purchased a new stake in shares of Primerica during the 4th quarter worth $210,472,000. Burgundy Asset Management Ltd. lifted its position in shares of Primerica by 2.9% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,283,778 shares of the financial services provider’s stock worth $253,880,000 after purchasing an additional 36,193 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Primerica by 0.6% during the 2nd quarter. State Street Corp now owns 1,112,658 shares of the financial services provider’s stock worth $133,174,000 after purchasing an additional 6,390 shares during the last quarter. Institutional investors and hedge funds own 90.56% of the company’s stock.

Insider Activity

In other news, CFO Alison S. Rand sold 3,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $210.07, for a total value of $630,210.00. Following the completion of the sale, the chief financial officer now directly owns 6,444 shares of the company’s stock, valued at $1,353,691.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.87% of the company’s stock.

Primerica Stock Performance

Shares of NYSE:PRI opened at $242.46 on Monday. The company has a 50-day simple moving average of $217.01 and a 200-day simple moving average of $208.42. Primerica, Inc. has a one year low of $155.68 and a one year high of $242.52. The stock has a market capitalization of $8.49 billion, a price-to-earnings ratio of 16.04 and a beta of 1.07.

Primerica declared that its Board of Directors has initiated a share repurchase program on Thursday, November 16th that permits the company to buyback $425.00 million in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 5.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Wednesday, February 21st will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.24%. This is a boost from Primerica’s previous quarterly dividend of $0.65. The ex-dividend date is Tuesday, February 20th. Primerica’s dividend payout ratio is presently 17.20%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PRI. Raymond James cut shares of Primerica from a “strong-buy” rating to a “market perform” rating in a research report on Monday. Morgan Stanley boosted their price target on shares of Primerica from $190.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 15th. Finally, StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a research report on Thursday, January 18th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $219.20.

View Our Latest Report on PRI

Primerica Company Profile

(Free Report)

Primerica, Inc, together with its subsidiaries, provides financial products 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. The Term Life Insurance segment underwrites individual term life insurance products.

Recommended Stories

Want to see what other hedge funds are holding PRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Primerica, Inc. (NYSE:PRIFree Report).

Institutional Ownership by Quarter for Primerica (NYSE:PRI)

Receive News & Ratings for Primerica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primerica and related companies with MarketBeat.com's FREE daily email newsletter.