TD Asset Management Inc. Grows Position in Primerica, Inc. (NYSE:PRI)

TD Asset Management Inc. increased its position in Primerica, Inc. (NYSE:PRI) by 14.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,209 shares of the financial services provider’s stock after acquiring an additional 677 shares during the quarter. TD Asset Management Inc.’s holdings in Primerica were worth $636,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PRI. Bank of Montreal Can lifted its position in Primerica by 166.0% during the fourth quarter. Bank of Montreal Can now owns 20,568 shares of the financial services provider’s stock valued at $2,010,000 after purchasing an additional 12,837 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in Primerica by 15.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 6,563 shares of the financial services provider’s stock valued at $641,000 after purchasing an additional 890 shares during the last quarter. Rhumbline Advisers lifted its position in Primerica by 60.4% during the fourth quarter. Rhumbline Advisers now owns 137,482 shares of the financial services provider’s stock valued at $13,433,000 after purchasing an additional 51,778 shares during the last quarter. LS Investment Advisors LLC lifted its position in Primerica by 8.4% during the fourth quarter. LS Investment Advisors LLC now owns 3,601 shares of the financial services provider’s stock valued at $352,000 after purchasing an additional 278 shares during the last quarter. Finally, Cantillon Capital Management LLC lifted its position in Primerica by 0.8% during the fourth quarter. Cantillon Capital Management LLC now owns 944,514 shares of the financial services provider’s stock valued at $92,288,000 after purchasing an additional 7,204 shares during the last quarter. 91.30% of the stock is owned by institutional investors.

Several equities research analysts have issued reports on PRI shares. Credit Suisse Group lifted their target price on shares of Primerica from $135.00 to $148.00 and gave the company an “outperform” rating in a research report on Monday, March 18th. Citigroup set a $108.00 price objective on shares of Primerica and gave the stock a “sell” rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $123.60.

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

Shares of PRI traded up $3.26 during mid-day trading on Monday, reaching $123.21. The company’s stock had a trading volume of 281,100 shares, compared to its average volume of 242,681. The firm has a market capitalization of $5.17 billion, a PE ratio of 16.81 and a beta of 1.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.57 and a current ratio of 0.57. Primerica, Inc. has a 52 week low of $90.28 and a 52 week high of $132.17. The stock’s fifty day moving average price is $120.75.

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, topping the Zacks’ consensus estimate of $1.71 by $0.03. Primerica had a net margin of 17.44% and a return on equity of 22.89%. The firm had revenue of $494.99 million during the quarter, compared to analyst estimates of $498.57 million. During the same period in the previous year, the business posted $1.47 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, 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. Investors of record on Wednesday, May 22nd were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Tuesday, May 21st. Primerica’s payout ratio is 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.

Read More: Can systematic risk be avoided?

Institutional Ownership by Quarter for Primerica (NYSE:PRI)

Receive News & Ratings for Primerica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primerica and related companies with MarketBeat.com's FREE daily email newsletter.