Virginia Retirement Systems ET AL bought a new stake in Primerica Inc. (NYSE:PRI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,000 shares of the company’s stock, valued at approximately $401,000.
Several other hedge funds and other institutional investors have also made changes to their positions in PRI. Metropolitan Life Insurance Co. NY boosted its position in shares of Primerica by 1.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 76,838 shares of the company’s stock valued at $3,422,000 after buying an additional 981 shares in the last quarter. Clark Capital Management Group Inc. acquired a new position in shares of Primerica during the first quarter valued at approximately $3,760,000. Hancock Holding Co. boosted its position in shares of Primerica by 0.7% in the first quarter. Hancock Holding Co. now owns 179,195 shares of the company’s stock valued at $7,980,000 after buying an additional 1,260 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Primerica by 28.0% in the first quarter. UBS Asset Management Americas Inc. now owns 78,151 shares of the company’s stock valued at $3,480,000 after buying an additional 17,086 shares in the last quarter. Finally, BB&T Securities LLC boosted its position in shares of Primerica by 5.2% in the first quarter. BB&T Securities LLC now owns 11,755 shares of the company’s stock valued at $523,000 after buying an additional 576 shares in the last quarter.
Primerica Inc. (NYSE:PRI) opened at 53.82 on Friday. 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 $2.50 billion, a PE ratio of 13.14 and a beta of 0.93. The company has a 50-day moving average of $55.82 and a 200-day moving average of $53.15.
Primerica (NYSE:PRI) last issued its quarterly earnings data on Monday, August 8th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the Zacks’ 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 earned $379.24 million during the quarter, compared to the consensus estimate of $370.76 million. During the same period in the prior year, the firm posted $0.93 EPS. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts anticipate that Primerica Inc. will post $4.41 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Wednesday, August 24th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.34%. This is a boost from Primerica’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Monday, August 22nd. Primerica’s payout ratio is presently 17.56%.
Several brokerages have recently commented on PRI. Keefe, Bruyette & Woods cut shares of Primerica from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $58.00 to $60.00 in a report on Tuesday, July 12th. Zacks Investment Research raised shares of Primerica from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Tuesday, July 12th. Finally, Wells Fargo & Co. began coverage on shares of Primerica in a report on Thursday, September 22nd. They set a “market perform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Primerica has an average rating of “Buy” and a consensus target price of $61.50.
In other Primerica news, insider Michael C. Adams sold 2,500 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Joel M. Babbit sold 1,406 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $57.31, for a total transaction of $80,577.86. Following the completion of the transaction, the director now owns 1,915 shares in the company, valued at $109,748.65. The disclosure for this sale can be found here. 1.24% of the stock is currently owned by company insiders.
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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