UBS Asset Management Americas Inc. increased its position in shares of Primerica Inc. (NYSE:PRI) by 13.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 88,558 shares of the company’s stock after buying an additional 10,407 shares during the period. UBS Asset Management Americas Inc. owned about 0.19% of Primerica worth $5,069,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cantillon Capital Management LLC bought a new position in Primerica during the second quarter worth $63,579,000. Ruane Cunniff & Goldfarb Inc. boosted its position in Primerica by 31.2% in the second quarter. Ruane Cunniff & Goldfarb Inc. now owns 3,780,842 shares of the company’s stock worth $216,415,000 after buying an additional 898,291 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Primerica by 85.4% in the first quarter. JPMorgan Chase & Co. now owns 590,793 shares of the company’s stock worth $26,308,000 after buying an additional 272,080 shares during the last quarter. British Airways Pensions Investment Management Ltd bought a new position in Primerica during the second quarter worth $15,575,000. Finally, RS Investment Management Co. LLC boosted its position in Primerica by 23.5% in the second quarter. RS Investment Management Co. LLC now owns 1,247,548 shares of the company’s stock worth $71,410,000 after buying an additional 237,260 shares during the last quarter.
Shares of Primerica Inc. (NYSE:PRI) traded down 0.89% during mid-day trading on Thursday, hitting $53.41. 157,358 shares of the company were exchanged. Primerica Inc. has a 52 week low of $37.09 and a 52 week high of $59.34. The company has a market capitalization of $2.48 billion, a P/E ratio of 13.04 and a beta of 0.80. The company has a 50 day moving average of $56.19 and a 200 day moving average of $52.74.
Primerica (NYSE:PRI) last issued its quarterly earnings results on Monday, August 8th. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.13. Primerica had a net margin of 13.90% and a return on equity of 17.32%. The company earned $379.24 million during the quarter, compared to analysts’ expectations of $370.76 million. During the same period last year, the company posted $0.93 EPS. Primerica’s revenue was up 8.2% on a year-over-year basis. Equities analysts anticipate that Primerica Inc. will post $4.41 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Wednesday, August 24th were paid a dividend of $0.18 per share. This is a positive change from Primerica’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Monday, August 22nd. Primerica’s dividend payout ratio (DPR) is currently 17.56%.
PRI has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Primerica from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Wells Fargo & Co. initiated coverage on shares of Primerica in a research note on Thursday, September 22nd. They issued a “market perform” rating on the stock. Finally, Keefe, Bruyette & Woods cut shares of Primerica from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $58.00 to $60.00 in a research note on Tuesday, July 12th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $61.50.
In other Primerica news, insider Jeffrey S. Fendler sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $56.02, for a total transaction of $56,020.00. Following the completion of the sale, the insider now directly owns 32,988 shares in the company, valued at approximately $1,847,987.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael C. Adams sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $51.99, for a total transaction of $129,975.00. Following the sale, the insider now owns 40,589 shares of the company’s stock, valued at $2,110,222.11. The disclosure for this sale can be found here. Company 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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