Guggenheim Capital LLC Lowers Stake in Primerica, Inc. (PRI)

Guggenheim Capital LLC cut its position in shares of Primerica, Inc. (NYSE:PRI) by 31.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,495 shares of the financial services provider’s stock after selling 40,021 shares during the period. Guggenheim Capital LLC’s holdings in Primerica were worth $8,785,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parametrica Management Ltd bought a new stake in shares of Primerica during the fourth quarter valued at approximately $203,000. Magnetar Financial LLC bought a new stake in shares of Primerica during the third quarter valued at approximately $204,000. Jane Street Group LLC bought a new stake in shares of Primerica during the third quarter valued at approximately $215,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Primerica during the fourth quarter valued at approximately $234,000. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in shares of Primerica during the fourth quarter valued at approximately $242,000. Institutional investors and hedge funds own 91.47% of the company’s stock.

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Shares of Primerica, Inc. (PRI) opened at $95.85 on Monday. Primerica, Inc. has a 1 year low of $70.00 and a 1 year high of $108.05. The firm has a market capitalization of $4,247.31, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 1.32 and a beta of 1.14.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.17. Primerica had a return on equity of 19.47% and a net margin of 20.74%. The firm had revenue of $442.94 million for the quarter, compared to analysts’ expectations of $435.87 million. During the same period in the prior year, the business posted $1.19 earnings per share. The business’s revenue was up 12.5% compared to the same quarter last year. equities analysts expect that Primerica, Inc. will post 7.24 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Thursday, February 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.04%. This is a boost from Primerica’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, February 14th. Primerica’s dividend payout ratio is 13.07%.

Primerica declared that its board has approved a share repurchase program on Wednesday, February 7th that allows the company to repurchase $225.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

A number of analysts have recently issued reports on PRI shares. ValuEngine upgraded Primerica from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Wells Fargo reiterated a “market perform” rating and issued a $100.00 price target (up from $95.00) on shares of Primerica in a research report on Tuesday, January 9th. Zacks Investment Research cut Primerica from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Finally, SunTrust Banks upped their price target on Primerica to $112.00 and gave the company a “hold” rating in a research report on Monday, January 22nd. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $101.25.

In other Primerica news, CFO Alison S. Rand sold 2,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $100.95, for a total value of $201,900.00. Following the sale, the chief financial officer now directly owns 31,385 shares in the company, valued at $3,168,315.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Alison S. Rand sold 10,000 shares of the company’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $102.49, for a total value of $1,024,900.00. Following the completion of the sale, the vice president now owns 26,861 shares in the company, valued at $2,752,983.89. The disclosure for this sale can be found here. Insiders sold 17,482 shares of company stock worth $1,770,883 over the last quarter. Company insiders own 0.86% of the company’s stock.

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About Primerica

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.

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Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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