Texas Permanent School Fund Corp Buys 397 Shares of Primerica, Inc. (NYSE:PRI)

Texas Permanent School Fund Corp raised its holdings in Primerica, Inc. (NYSE:PRI) by 1.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,661 shares of the financial services provider’s stock after acquiring an additional 397 shares during the period. Texas Permanent School Fund Corp owned about 0.09% of Primerica worth $7,756,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC bought a new position in Primerica in the fourth quarter valued at about $26,000. Benjamin F. Edwards & Company Inc. grew its position in Primerica by 493.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 148 shares during the last quarter. Sound Income Strategies LLC grew its position in Primerica by 121.9% in the fourth quarter. Sound Income Strategies LLC now owns 233 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 128 shares during the last quarter. GAMMA Investing LLC bought a new position in Primerica in the fourth quarter valued at about $133,000. Finally, Fidelis Capital Partners LLC bought a new position in Primerica in the first quarter valued at about $163,000. Institutional investors own 90.88% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PRI. Morgan Stanley decreased their target price on Primerica from $245.00 to $243.00 and set an “equal weight” rating on the stock in a research report on Wednesday. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Jefferies Financial Group lifted their price target on Primerica from $235.00 to $236.00 and gave the company a “hold” rating in a research note on Friday, June 28th. Finally, Keefe, Bruyette & Woods lifted their price target on Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $253.50.

Insider Buying and Selling

In other Primerica news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction that occurred on 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 directly owns 11,759 shares in the company, valued at $2,674,466.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $222.76, for a total value 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 $10,764,208.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Peter W. Schneider sold 1,500 shares of the business’s stock in a transaction that occurred on 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 approximately $2,674,466.96. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

Primerica Price Performance

Shares of Primerica stock traded up $3.16 during midday trading on Thursday, reaching $238.30. The company had a trading volume of 100,672 shares, compared to its average volume of 171,023. The stock has a fifty day moving average price of $228.25 and a 200 day moving average price of $230.86. The firm has a market cap of $8.20 billion, a PE ratio of 14.48 and a beta of 1.09. Primerica, Inc. has a fifty-two week low of $184.76 and a fifty-two week high of $256.56.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Monday, May 6th. The financial services provider reported $3.91 EPS 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 analyst estimates of $740.57 million. Primerica had a return on equity of 27.35% and a net margin of 20.44%. Primerica’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.49 earnings per share. As a group, sell-side analysts forecast that Primerica, Inc. will post 17.66 EPS for the current year.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 21st were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Monday, May 20th. Primerica’s dividend payout ratio is currently 18.26%.

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.