Victory Capital Management Inc. trimmed its position in Primerica, Inc. (NYSE:PRI) by 37.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 484,103 shares of the financial services provider’s stock after selling 295,160 shares during the period. Victory Capital Management Inc. owned approximately 1.16% of Primerica worth $58,069,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of PRI. Geode Capital Management LLC lifted its holdings in shares of Primerica by 11.1% in the fourth quarter. Geode Capital Management LLC now owns 500,512 shares of the financial services provider’s stock valued at $48,905,000 after purchasing an additional 49,999 shares in the last quarter. New York State Teachers Retirement System raised its holdings in Primerica by 17.0% during the first quarter. New York State Teachers Retirement System now owns 8,227 shares of the financial services provider’s stock worth $1,005,000 after acquiring an additional 1,197 shares in the last quarter. TD Asset Management Inc. raised its holdings in Primerica by 14.9% during the first quarter. TD Asset Management Inc. now owns 5,209 shares of the financial services provider’s stock worth $636,000 after acquiring an additional 677 shares in the last quarter. Piedmont Investment Advisors Inc. bought a new stake in Primerica during the first quarter worth about $299,000. Finally, BlackRock Inc. raised its holdings in Primerica by 9.8% during the first quarter. BlackRock Inc. now owns 4,904,716 shares of the financial services provider’s stock worth $599,112,000 after acquiring an additional 438,672 shares in the last quarter. Institutional investors own 89.67% of the company’s stock.
PRI traded up $0.07 on Wednesday, hitting $129.19. 6,778 shares of the company were exchanged, compared to its average volume of 201,079. Primerica, Inc. has a 12 month low of $90.28 and a 12 month high of $132.17. The company has a market cap of $5.41 billion, a PE ratio of 17.66 and a beta of 1.38. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.55 and a current ratio of 0.55. The stock’s fifty day moving average is $118.52 and its 200-day moving average is $122.09.
The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 21st were issued a dividend of $0.34 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.36 annualized dividend and a yield of 1.05%. Primerica’s payout ratio is presently 18.55%.
Separately, Zacks Investment Research upgraded Primerica from a “hold” rating to a “buy” rating and set a $128.00 target price on the stock in a report on Tuesday, August 13th.
In other Primerica news, President Peter W. Schneider sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $119.26, for a total value of $357,780.00. Following the sale, the president now owns 29,790 shares in the company, valued at $3,552,755.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Alison S. Rand sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $119.64, for a total value of $239,280.00. Following the completion of the sale, the chief financial officer now owns 17,337 shares in the company, valued at approximately $2,074,198.68. The disclosure for this sale can be found here. Insiders have sold 8,000 shares of company stock worth $929,550 in the last quarter. 0.84% of the stock is currently owned by corporate insiders.
Primerica Company Profile
Primerica, Inc, together with its subsidiaries, provides financial products to middle income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.
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