Virginia Retirement Systems ET AL cut its position in shares of Primerica, Inc. (NYSE:PRI) by 28.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,800 shares of the financial services provider’s stock after selling 7,400 shares during the period. Virginia Retirement Systems ET AL’s holdings in Primerica were worth $1,424,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PRI. BlackRock Inc. boosted its position in shares of Primerica by 22,346.4% in the first quarter. BlackRock Inc. now owns 4,448,197 shares of the financial services provider’s stock worth $365,642,000 after buying an additional 4,428,380 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Primerica by 142.0% in the first quarter. Goldman Sachs Group Inc. now owns 858,611 shares of the financial services provider’s stock worth $70,578,000 after buying an additional 503,786 shares during the period. Vanguard Group Inc. boosted its position in shares of Primerica by 6.5% in the first quarter. Vanguard Group Inc. now owns 5,071,986 shares of the financial services provider’s stock worth $416,917,000 after buying an additional 307,797 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Primerica by 21.7% in the first quarter. Bank of New York Mellon Corp now owns 1,096,136 shares of the financial services provider’s stock worth $90,104,000 after buying an additional 195,245 shares during the period. Finally, FMR LLC boosted its position in shares of Primerica by 10.7% in the first quarter. FMR LLC now owns 1,752,471 shares of the financial services provider’s stock worth $144,053,000 after buying an additional 169,689 shares during the period. Hedge funds and other institutional investors own 94.89% of the company’s stock.

Shares of Primerica, Inc. (NYSE PRI) opened at 76.85 on Friday. Primerica, Inc. has a 12 month low of $52.50 and a 12 month high of $86.45. The stock has a market cap of $3.45 billion, a P/E ratio of 15.65 and a beta of 1.15. The stock’s 50 day moving average is $79.07 and its 200 day moving average is $79.15.

Primerica (NYSE:PRI) last released its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.01. Primerica had a net margin of 14.41% and a return on equity of 18.48%. The business had revenue of $413.70 million during the quarter, compared to the consensus estimate of $410.97 million. During the same quarter last year, the company earned $1.23 earnings per share. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. Analysts predict that Primerica, Inc. will post $5.22 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 18th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.04%. This is an increase from Primerica’s previous quarterly dividend of $0.19. Primerica’s dividend payout ratio (DPR) is presently 16.33%.

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A number of research analysts recently weighed in on PRI shares. Zacks Investment Research cut shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, May 12th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $83.00 price target on shares of Primerica in a research note on Friday, June 23rd. BidaskClub upgraded shares of Primerica from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Finally, Wells Fargo & Company reiterated a “hold” rating on shares of Primerica in a research note on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $83.75.

In related news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $80.68, for a total transaction of $242,040.00. Following the transaction, the chief executive officer now directly owns 77,895 shares in the company, valued at $6,284,568.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Peter W. Schneider sold 1,301 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $76.92, for a total value of $100,072.92. Following the transaction, the president now owns 28,138 shares in the company, valued at $2,164,374.96. The disclosure for this sale can be found here. Insiders have sold 6,301 shares of company stock valued at $495,113 in the last three months. Corporate insiders own 0.86% of the company’s stock.

Primerica Company Profile

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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