Schroder Investment Management Group reduced its position in shares of Primerica Inc. (NYSE:PRI) by 76.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,100 shares of the company’s stock after selling 16,600 shares during the period. Schroder Investment Management Group’s holdings in Primerica were worth $292,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in PRI. LS Investment Advisors LLC increased its stake in shares of Primerica by 72.9% in the second quarter. LS Investment Advisors LLC now owns 2,853 shares of the company’s stock worth $163,000 after buying an additional 1,203 shares in the last quarter. Huntington National Bank increased its stake in shares of Primerica by 4.2% in the second quarter. Huntington National Bank now owns 2,969 shares of the company’s stock worth $170,000 after buying an additional 119 shares in the last quarter. Calvert Investment Management Inc. purchased a new stake in shares of Primerica during the second quarter worth $200,000. M&T Bank Corp increased its stake in shares of Primerica by 5.7% in the first quarter. M&T Bank Corp now owns 4,613 shares of the company’s stock worth $205,000 after buying an additional 247 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of Primerica during the second quarter worth $207,000.
Primerica Inc. (NYSE:PRI) traded down 1.488% during mid-day trading on Wednesday, reaching $53.285. The company had a trading volume of 356,775 shares. The firm has a market capitalization of $2.48 billion, a P/E ratio of 13.006 and a beta of 0.80. The firm’s 50-day moving average is $56.21 and its 200-day moving average is $52.73. Primerica Inc. has a one year low of $37.09 and a one year high of $59.34.
Primerica (NYSE:PRI) last posted its quarterly earnings data on Monday, August 8th. The company reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.13. The company had revenue of $379.24 million for the quarter, compared to analyst estimates of $370.76 million. Primerica had a return on equity of 17.32% and a net margin of 13.90%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 earnings per share. On average, equities research analysts anticipate that Primerica Inc. will post $4.41 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Wednesday, August 24th were paid a $0.18 dividend. The ex-dividend date was Monday, August 22nd. This is a positive change from Primerica’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.33%. Primerica’s payout ratio is 17.56%.
A number of analysts recently weighed in on the stock. Wells Fargo & Co. assumed coverage on shares of Primerica in a research report on Thursday, September 22nd. They issued a “market perform” rating on the stock. Keefe, Bruyette & Woods cut Primerica from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $58.00 to $60.00 in a research note on Tuesday, July 12th. Finally, Zacks Investment Research raised Primerica from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, July 12th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Primerica has a consensus rating of “Buy” 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 stock was sold at an average price of $52.93, for a total transaction of $79,395.00. Following the transaction, the insider now directly owns 26,630 shares of the company’s stock, valued at $1,409,525.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $129,975.00. Following the transaction, the insider now directly owns 40,589 shares in the company, valued at $2,110,222.11. The disclosure for this sale can be found here. 1.24% of the stock is owned by company insiders.
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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