State Treasurer State of Michigan decreased its holdings in Primerica, Inc. (NYSE:PRI) by 0.7% in the 1st quarter, HoldingsChannel reports. The firm owned 15,200 shares of the financial services provider’s stock after selling 100 shares during the quarter. State Treasurer State of Michigan’s holdings in Primerica were worth $1,857,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its holdings in shares of Primerica by 1.2% in the first quarter. Nisa Investment Advisors LLC now owns 8,280 shares of the financial services provider’s stock valued at $1,011,000 after buying an additional 100 shares during the period. TD Asset Management Inc. lifted its holdings in shares of Primerica by 2.5% in the fourth quarter. TD Asset Management Inc. now owns 4,532 shares of the financial services provider’s stock valued at $443,000 after buying an additional 110 shares during the period. BB&T Corp lifted its holdings in shares of Primerica by 3.9% in the fourth quarter. BB&T Corp now owns 4,213 shares of the financial services provider’s stock valued at $411,000 after buying an additional 159 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in shares of Primerica by 2.6% in the first quarter. Crossmark Global Holdings Inc. now owns 6,733 shares of the financial services provider’s stock valued at $822,000 after buying an additional 170 shares during the period. Finally, Arizona State Retirement System lifted its holdings in shares of Primerica by 0.6% in the fourth quarter. Arizona State Retirement System now owns 30,818 shares of the financial services provider’s stock valued at $3,011,000 after buying an additional 196 shares during the period. 93.29% of the stock is owned by institutional investors.

Separately, Credit Suisse Group upped their price objective on Primerica from $135.00 to $148.00 and gave the company an “outperform” rating in a report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Primerica presently has a consensus rating of “Hold” and an average target price of $123.60.

Shares of Primerica stock traded up $2.02 during trading on Tuesday, hitting $125.39. The stock had a trading volume of 780 shares, compared to its average volume of 201,144. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.04. The firm has a market cap of $5.30 billion, a price-to-earnings ratio of 17.05 and a beta of 1.41. Primerica, Inc. has a fifty-two week low of $90.28 and a fifty-two week high of $132.17.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $1.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.03. The business had revenue of $494.99 million during the quarter, compared to analyst estimates of $498.57 million. Primerica had a return on equity of 22.89% and a net margin of 17.44%. The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.47 earnings per share. Analysts anticipate that Primerica, Inc. will post 8.13 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 22nd will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Tuesday, May 21st. Primerica’s dividend payout ratio is 18.55%.

Primerica announced that its Board of Directors has initiated a stock repurchase program on Thursday, February 7th that allows the company to repurchase $275.00 million in shares. This repurchase authorization allows the financial services provider to purchase up to 5.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

In other news, Director John A. Jr. Addison sold 3,249 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $122.85, for a total transaction of $399,139.65. Following the completion of the sale, the director now directly owns 20,359 shares of the company’s stock, valued at $2,501,103.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Alison S. Rand sold 2,000 shares of the company’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $125.05, for a total value of $250,100.00. Following the sale, the vice president now directly owns 14,545 shares of the company’s stock, valued at $1,818,852.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,249 shares of company stock valued at $2,004,130. 0.84% of the stock is currently owned by company insiders.

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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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Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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