Paloma Partners Management Co Increases Stake in Primerica, Inc. (PRI)

Paloma Partners Management Co raised its position in Primerica, Inc. (NYSE:PRI) by 39.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,155 shares of the financial services provider’s stock after purchasing an additional 4,554 shares during the quarter. Paloma Partners Management Co’s holdings in Primerica were worth $1,641,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Intrust Bank NA raised its position in shares of Primerica by 18.4% in the fourth quarter. Intrust Bank NA now owns 3,840 shares of the financial services provider’s stock valued at $390,000 after buying an additional 597 shares in the last quarter. Suntrust Banks Inc. increased its holdings in shares of Primerica by 17.1% during the fourth quarter. Suntrust Banks Inc. now owns 4,574 shares of the financial services provider’s stock worth $463,000 after buying an additional 667 shares in the last quarter. BB&T Securities LLC increased its holdings in shares of Primerica by 6.4% during the third quarter. BB&T Securities LLC now owns 11,812 shares of the financial services provider’s stock worth $963,000 after buying an additional 709 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Primerica by 34.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,802 shares of the financial services provider’s stock worth $285,000 after buying an additional 721 shares in the last quarter. Finally, First Republic Investment Management Inc. increased its holdings in shares of Primerica by 13.1% during the fourth quarter. First Republic Investment Management Inc. now owns 6,940 shares of the financial services provider’s stock worth $704,000 after buying an additional 804 shares in the last quarter. 91.47% of the stock is currently owned by institutional investors and hedge funds.

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In related news, Director Robert F. Mccullough sold 500 shares of Primerica stock in a transaction on Monday, March 5th. The shares were sold at an average price of $95.90, for a total value of $47,950.00. Following the transaction, the director now owns 18,585 shares in the company, valued at approximately $1,782,301.50. The sale was disclosed in a 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 on Thursday, February 15th. The stock was sold at an average price of $98.67, for a total transaction of $296,010.00. Following the completion of the transaction, the chief executive officer now owns 63,095 shares in the company, valued at approximately $6,225,583.65. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,482 shares of company stock valued at $1,770,883. Insiders own 0.86% of the company’s stock.

Several analysts recently weighed in on the stock. Zacks Investment Research cut shares of Primerica from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 27th. Wells Fargo set a $102.00 price target on shares of Primerica and gave the company a “hold” rating in a research report on Wednesday, February 7th. ValuEngine raised shares of Primerica from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, SunTrust Banks upped their target price on shares of Primerica to $112.00 and gave the stock a “hold” rating in a report on Monday, January 22nd. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $101.25.

Shares of Primerica stock traded down $0.85 on Friday, reaching $95.95. 238,012 shares of the company traded hands, compared to its average volume of 221,149. The company has a market capitalization of $4,289.37, a P/E ratio of 17.38, a P/E/G ratio of 1.34 and a beta of 1.13. Primerica, Inc. has a 52 week low of $70.00 and a 52 week high of $108.05.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $1.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.17. Primerica had a net margin of 20.74% and a return on equity of 19.47%. The company had revenue of $442.94 million during the quarter, compared to the consensus estimate of $435.87 million. During the same period last year, the firm earned $1.19 EPS. Primerica’s revenue for the quarter was up 12.5% on a year-over-year basis. research analysts expect that Primerica, Inc. will post 7.24 earnings per share for the current fiscal year.

Primerica declared that its board has initiated a share repurchase plan on Wednesday, February 7th that permits the company to repurchase $225.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

The company also recently declared a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Thursday, February 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.04%. This is an increase from Primerica’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, February 14th. Primerica’s dividend payout ratio (DPR) is presently 18.12%.

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About Primerica

Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance company subsidiaries.

Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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