California State Teachers Retirement System Has $8.07 Million Holdings in Primerica, Inc. (NYSE:PRI)

California State Teachers Retirement System decreased its stake in Primerica, Inc. (NYSE:PRI) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,055 shares of the financial services provider’s stock after selling 1,548 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of Primerica worth $8,069,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Resources Investment Advisors Inc. acquired a new position in Primerica during the fourth quarter worth about $29,000. Enlightenment Research LLC acquired a new position in Primerica during the fourth quarter worth about $39,000. Doyle Wealth Management acquired a new position in Primerica during the fourth quarter worth about $44,000. NumerixS Investment Technologies Inc boosted its position in Primerica by 400.0% during the fourth quarter. NumerixS Investment Technologies Inc now owns 500 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 400 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in Primerica by 1,389.7% during the first quarter. Quadrant Capital Group LLC now owns 432 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 403 shares during the last quarter. Institutional investors and hedge funds own 91.30% of the company’s stock.

A number of equities analysts recently weighed in on PRI shares. Credit Suisse Group boosted their price target on shares of Primerica from $135.00 to $148.00 and gave the stock an “outperform” rating in a research report on Monday, March 18th. Citigroup set a $108.00 price target on shares of Primerica and gave the stock a “sell” rating in a research report on Thursday, May 23rd. 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. The stock currently has a consensus rating of “Hold” and a consensus price target of $123.60.

In other news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $121.84, for a total value of $365,520.00. Following the sale, the chief executive officer now directly owns 72,620 shares of the company’s stock, valued at approximately $8,848,020.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $115.02, for a total transaction of $230,040.00. Following the completion of the sale, the president now directly owns 32,790 shares in the company, valued at $3,771,505.80. The disclosure for this sale can be found here. Insiders have sold 7,000 shares of company stock worth $834,940 over the last ninety days. 0.84% of the stock is owned by insiders.

PRI stock traded up $3.26 during trading on Monday, reaching $123.21. 281,100 shares of the stock were exchanged, compared to its average volume of 242,681. 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 stock has a 50 day simple moving average of $121.11. Primerica, Inc. has a 1 year low of $90.28 and a 1 year high of $132.17. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 16.81 and a beta of 1.40.

Primerica (NYSE:PRI) last issued its earnings results on Tuesday, May 7th. The financial services provider reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.03. Primerica had a net margin of 17.44% and a return on equity of 22.89%. The company had revenue of $494.99 million for the quarter, compared to the consensus estimate of $498.57 million. During the same period in the previous year, the firm earned $1.47 earnings per share. Primerica’s quarterly revenue was up 7.6% compared to the same quarter last year. Sell-side analysts expect that Primerica, Inc. will post 8.13 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 22nd were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Tuesday, May 21st. Primerica’s dividend payout ratio (DPR) is presently 18.55%.

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.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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