Great Lakes Advisors LLC bought a new position in shares of Primerica (NYSE:PRI) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 6,834 shares of the financial services provider’s stock, valued at approximately $660,000.
Several other institutional investors have also recently made changes to their positions in PRI. Parametrica Management Ltd acquired a new stake in shares of Primerica during the 4th quarter worth about $203,000. Csenge Advisory Group acquired a new stake in shares of Primerica during the 4th quarter worth about $210,000. Zeke Capital Advisors LLC bought a new stake in Primerica during the 4th quarter worth about $218,000. Raymond James Financial Services Advisors Inc. bought a new stake in Primerica during the 4th quarter worth about $234,000. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in Primerica during the 4th quarter worth about $242,000. Institutional investors and hedge funds own 91.11% of the company’s stock.
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A number of brokerages have commented on PRI. ValuEngine lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, April 13th. Zacks Investment Research lowered shares of Primerica from a “hold” rating to a “sell” rating in a report on Friday, May 11th. SunTrust Banks increased their price objective on shares of Primerica to $112.00 and gave the stock a “hold” rating in a report on Monday, January 22nd. Finally, Wells Fargo set a $102.00 price objective on shares of Primerica and gave the stock a “hold” rating in a report on Tuesday, May 8th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $101.25.
Shares of NYSE:PRI opened at $97.45 on Friday. Primerica has a 12 month low of $94.55 and a 12 month high of $95.70. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 1.32 and a beta of 1.14.
Primerica (NYSE:PRI) last issued its quarterly earnings data on Tuesday, May 8th. The financial services provider reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.02). Primerica had a return on equity of 19.88% and a net margin of 20.87%. The company had revenue of $459.92 million for the quarter, compared to the consensus estimate of $459.83 million. During the same period in the prior year, the company earned $1.11 EPS. The firm’s revenue was up 13.5% compared to the same quarter last year. equities analysts forecast that Primerica will post 7.21 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Tuesday, May 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Monday, May 21st. Primerica’s dividend payout ratio is currently 18.12%.
Primerica declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 7th that allows the company to repurchase $225.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In other news, Director Robert F. Mccullough sold 500 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $95.90, for a total value of $47,950.00. Following the transaction, the director now owns 18,585 shares of the company’s stock, valued at approximately $1,782,301.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alison S. Rand sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $100.95, for a total transaction of $201,900.00. Following the completion of the transaction, the chief financial officer now directly owns 31,385 shares in the company, valued at approximately $3,168,315.75. The disclosure for this sale can be found here. Insiders sold a total of 14,482 shares of company stock worth $1,474,873 in the last ninety days. Insiders own 0.89% of the company’s stock.
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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