AGF Management Ltd. Cuts Stock Holdings in Primerica, Inc. (NYSE:PRI)

AGF Management Ltd. decreased its position in Primerica, Inc. (NYSE:PRI - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 641,395 shares of the financial services provider's stock after selling 26,856 shares during the quarter. Primerica makes up 0.9% of AGF Management Ltd.'s portfolio, making the stock its 29th biggest holding. AGF Management Ltd. owned 1.92% of Primerica worth $174,087,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PRI. Janney Montgomery Scott LLC lifted its holdings in Primerica by 2.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 10,243 shares of the financial services provider's stock worth $2,716,000 after purchasing an additional 292 shares in the last quarter. Assetmark Inc. increased its holdings in Primerica by 11.8% in the 3rd quarter. Assetmark Inc. now owns 1,461 shares of the financial services provider's stock valued at $387,000 after acquiring an additional 154 shares during the last quarter. Atria Investments Inc lifted its stake in Primerica by 8.0% in the 3rd quarter. Atria Investments Inc now owns 8,950 shares of the financial services provider's stock worth $2,373,000 after purchasing an additional 662 shares in the last quarter. Axxcess Wealth Management LLC bought a new position in shares of Primerica during the 3rd quarter valued at about $221,000. Finally, Crossmark Global Holdings Inc. grew its position in shares of Primerica by 106.6% during the third quarter. Crossmark Global Holdings Inc. now owns 4,680 shares of the financial services provider's stock valued at $1,241,000 after purchasing an additional 2,415 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors.

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Insider Activity

In other news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total value of $845,220.00. Following the sale, the chief executive officer now owns 33,322 shares in the company, valued at $9,388,140.28. This represents a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total transaction of $65,555.10. Following the transaction, the insider now owns 200 shares of the company's stock, valued at $56,030. This represents a 53.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,234 shares of company stock valued at $1,476,575 over the last ninety days. 0.85% of the stock is currently owned by insiders.

Primerica Stock Performance

NYSE:PRI traded down $0.62 during trading hours on Wednesday, reaching $277.10. The company's stock had a trading volume of 69,533 shares, compared to its average volume of 142,641. The company has a market capitalization of $9.21 billion, a P/E ratio of 20.22 and a beta of 1.12. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91. The stock has a 50 day moving average price of $284.19 and a two-hundred day moving average price of $279.40.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, beating analysts' consensus estimates of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. As a group, analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica announced that its Board of Directors has approved a share repurchase program on Thursday, November 14th that authorizes the company to repurchase $450.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 4.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 21st will be issued a $1.04 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.50%. This is a boost from Primerica's previous quarterly dividend of $0.90. Primerica's dividend payout ratio (DPR) is currently 30.25%.

Wall Street Analyst Weigh In

PRI has been the subject of a number of recent research reports. Morgan Stanley dropped their price objective on shares of Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Keefe, Bruyette & Woods boosted their price objective on Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a research note on Tuesday, February 18th. TD Cowen raised their price objective on Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. BMO Capital Markets started coverage on shares of Primerica in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 price objective for the company. Finally, StockNews.com lowered Primerica from a "buy" rating to a "hold" rating in a research note on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $309.86.

About Primerica

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.