Wells Fargo & Company MN raised its holdings in Primerica, Inc. (NYSE:PRI) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 835,985 shares of the financial services provider’s stock after purchasing an additional 2,191 shares during the quarter. Wells Fargo & Company MN owned about 1.94% of Primerica worth $100,778,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of PRI. Prana Capital Management LP purchased a new stake in shares of Primerica in the second quarter valued at about $12,256,000. Cantillon Capital Management LLC lifted its stake in shares of Primerica by 10.3% during the second quarter. Cantillon Capital Management LLC now owns 1,006,041 shares of the financial services provider’s stock valued at $100,202,000 after buying an additional 94,295 shares during the period. Voya Investment Management LLC raised its stake in Primerica by 12.8% during the second quarter. Voya Investment Management LLC now owns 637,383 shares of the financial services provider’s stock worth $63,483,000 after purchasing an additional 72,436 shares during the period. Victory Capital Management Inc. raised its stake in Primerica by 7.0% during the second quarter. Victory Capital Management Inc. now owns 836,026 shares of the financial services provider’s stock worth $83,268,000 after purchasing an additional 54,363 shares during the period. Finally, Macquarie Group Ltd. raised its stake in Primerica by 8.5% during the second quarter. Macquarie Group Ltd. now owns 532,975 shares of the financial services provider’s stock worth $53,084,000 after purchasing an additional 41,870 shares during the period. Institutional investors own 89.57% of the company’s stock.
PRI traded down $7.50 during trading hours on Wednesday, reaching $110.39. 238,523 shares of the stock traded hands, compared to its average volume of 177,217. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of 20.00 and a beta of 1.19. Primerica, Inc. has a fifty-two week low of $90.05 and a fifty-two week high of $128.35.
Primerica (NYSE:PRI) last released its quarterly earnings results on Tuesday, November 6th. The financial services provider reported $1.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.86 by $0.07. Primerica had a net margin of 21.88% and a return on equity of 21.72%. The business had revenue of $484.78 million during the quarter, compared to analyst estimates of $478.87 million. During the same period last year, the business earned $1.46 EPS. The business’s revenue was up 13.5% on a year-over-year basis. Analysts forecast that Primerica, Inc. will post 7.22 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Tuesday, November 20th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, November 19th. This represents a $1.00 dividend on an annualized basis and a yield of 0.91%. Primerica’s dividend payout ratio (DPR) is 18.12%.
In other Primerica news, President Peter W. Schneider sold 2,000 shares of the stock in a transaction on Friday, November 30th. The shares were sold at an average price of $119.80, for a total transaction of $239,600.00. Following the transaction, the president now directly owns 28,647 shares in the company, valued at approximately $3,431,910.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William A. Kelly sold 1,250 shares of the firm’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $126.78, for a total transaction of $158,475.00. Following the completion of the transaction, the insider now owns 15,272 shares in the company, valued at $1,936,184.16. The disclosure for this sale can be found here. Insiders have sold a total of 11,263 shares of company stock worth $1,335,072 over the last quarter. 0.89% of the stock is currently owned by insiders.
A number of research firms have weighed in on PRI. Zacks Investment Research downgraded shares of Primerica from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 10th. ValuEngine lowered shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Finally, Citigroup lowered shares of Primerica from a “neutral” rating to a “sell” rating and increased their price objective for the stock from $100.00 to $108.00 in a research report on Tuesday, September 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $114.40.
Primerica Company Profile
Primerica, Inc, together with its subsidiaries, distributes 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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