Axxcess Wealth Management LLC Buys Shares of 809 Primerica, Inc. (NYSE:PRI)

Axxcess Wealth Management LLC acquired a new position in shares of Primerica, Inc. (NYSE:PRI) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 809 shares of the financial services provider’s stock, valued at approximately $205,000.

Other large investors have also modified their holdings of the company. Van ECK Associates Corp increased its position in shares of Primerica by 36.5% during the first quarter. Van ECK Associates Corp now owns 12,506 shares of the financial services provider’s stock worth $3,164,000 after acquiring an additional 3,345 shares during the period. Blair William & Co. IL increased its holdings in Primerica by 24.5% in the first quarter. Blair William & Co. IL now owns 12,159 shares of the financial services provider’s stock valued at $3,076,000 after buying an additional 2,393 shares during the last quarter. Trust Point Inc. purchased a new position in Primerica in the fourth quarter valued at $339,000. Louisiana State Employees Retirement System purchased a new position in Primerica in the fourth quarter valued at $2,016,000. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in Primerica by 136.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 6,322 shares of the financial services provider’s stock valued at $1,599,000 after buying an additional 3,649 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Stock Performance

Shares of NYSE PRI opened at $250.52 on Friday. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $256.56. The firm’s 50 day moving average price is $234.45 and its 200 day moving average price is $234.31. The firm has a market cap of $8.62 billion, a P/E ratio of 15.25 and a beta of 1.09.

Primerica (NYSE:PRI) last announced its earnings results on Monday, May 6th. The financial services provider reported $3.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.12 by ($0.21). Primerica had a return on equity of 27.35% and a net margin of 20.44%. The firm had revenue of $742.83 million for the quarter, compared to analyst estimates of $740.57 million. During the same quarter last year, the business posted $3.49 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, equities analysts predict that Primerica, Inc. will post 17.73 EPS for the current year.

Primerica Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 21st were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $3.00 dividend on an annualized basis and a yield of 1.20%. Primerica’s dividend payout ratio (DPR) is currently 18.26%.

Analyst Upgrades and Downgrades

PRI has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped 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. Jefferies Financial Group upped 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. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, Morgan Stanley decreased their target price on shares of Primerica from $245.00 to $243.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $260.50.

Insider Buying and Selling at Primerica

In other Primerica news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction 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 transaction, the president now owns 11,759 shares in the company, valued at approximately $2,674,466.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction on Friday, May 24th. The shares were sold at an average price of $227.44, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $222.76, for a total transaction of $668,280.00. Following the sale, the chief executive officer now directly owns 48,322 shares in the company, valued at approximately $10,764,208.72. The disclosure for this sale can be found here. 0.85% of the stock is owned by company insiders.

Primerica Company 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.