Retirement Systems of Alabama reduced its stake in shares of Primerica Inc. (NYSE:PRI) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,687 shares of the company’s stock after selling 1,294 shares during the period. Retirement Systems of Alabama’s holdings in Primerica were worth $3,474,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. LS Investment Advisors LLC raised its stake in Primerica by 72.9% in the second quarter. LS Investment Advisors LLC now owns 2,853 shares of the company’s stock valued at $163,000 after buying an additional 1,203 shares during the period. M&T Bank Corp raised its stake in Primerica by 5.7% in the first quarter. M&T Bank Corp now owns 4,613 shares of the company’s stock valued at $205,000 after buying an additional 247 shares during the period. Bank of Montreal Can purchased a new stake in Primerica during the second quarter valued at approximately $207,000. 1st Global Advisors Inc. purchased a new stake in Primerica during the second quarter valued at approximately $214,000. Finally, Pitcairn Co. purchased a new stake in Primerica during the second quarter valued at approximately $230,000.
Primerica Inc. (NYSE:PRI) traded up 0.18% on Tuesday, reaching $55.20. 179,412 shares of the company were exchanged. Primerica Inc. has a 12-month low of $37.09 and a 12-month high of $59.34. The firm has a market capitalization of $2.57 billion, a P/E ratio of 13.47 and a beta of 0.93. The firm has a 50-day moving average of $55.58 and a 200 day moving average of $53.75.
Primerica (NYSE:PRI) last posted its quarterly earnings data on Monday, August 8th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.06 by $0.13. Primerica had a net margin of 13.90% and a return on equity of 17.32%. The business had revenue of $379.24 million for the quarter, compared to analyst estimates of $370.76 million. During the same quarter in the previous year, the firm posted $0.93 earnings per share. Primerica’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities analysts predict that Primerica Inc. will post $4.41 earnings per share for the current year.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Wednesday, October 12th. Wells Fargo & Co. assumed coverage on shares of Primerica in a research note on Thursday, September 22nd. They set a “market perform” rating for the company. Finally, Keefe, Bruyette & Woods lowered shares of Primerica from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $58.00 to $60.00 in a research note on Tuesday, July 12th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Primerica has a consensus rating of “Hold” and an average price target of $61.50.
In other news, insider William A. Kelly sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $52.93, for a total value of $79,395.00. Following the transaction, the insider now owns 26,630 shares in the company, valued at $1,409,525.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael C. Adams sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $51.99, for a total transaction of $129,975.00. Following the completion of the transaction, the insider now owns 40,589 shares in the company, valued at approximately $2,110,222.11. The disclosure for this sale can be found here. Corporate insiders own 1.24% of the company’s stock.
Primerica Company Profile
Primerica Inc (Primerica) distributes financial products to middle-income households. The Company operates through three segments. 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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