Invictus RG purchased a new position in shares of Primerica, Inc. (NYSE:PRI) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 3,191 shares of the financial services provider’s stock, valued at approximately $324,000.
Other large investors have also modified their holdings of the company. Parametrica Management Ltd bought a new stake in shares of Primerica in the fourth quarter worth $203,000. Magnetar Financial LLC bought a new stake in shares of Primerica in the third quarter worth $204,000. Jane Street Group LLC bought a new stake in Primerica during the third quarter worth $215,000. Raymond James Financial Services Advisors Inc. bought a new stake in Primerica during the fourth quarter worth $234,000. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in Primerica during the fourth quarter worth $242,000. Institutional investors own 91.46% of the company’s stock.
PRI has been the topic of several analyst reports. Wells Fargo & Co reaffirmed a “market perform” rating and set a $100.00 price target (up from $95.00) on shares of Primerica in a research report on Tuesday, January 9th. SunTrust Banks upped their price objective on shares of Primerica to $112.00 and gave the company a “hold” rating in a report on Monday, January 22nd. ValuEngine upgraded shares of Primerica from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Zacks Investment Research downgraded shares of Primerica from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $101.25.
In related news, VP Alison S. Rand sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $102.49, for a total value of $1,024,900.00. Following the completion of the transaction, the vice president now owns 26,861 shares in the company, valued at approximately $2,752,983.89. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert F. Mccullough sold 500 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $95.90, for a total transaction of $47,950.00. Following the completion of the transaction, the director now owns 18,585 shares of the company’s stock, valued at approximately $1,782,301.50. The disclosure for this sale can be found here. Insiders sold 17,482 shares of company stock valued at $1,770,883 in the last three months. Company insiders own 0.86% of the company’s stock.
Primerica, Inc. (PRI) traded down $1.70 on Wednesday, reaching $100.30. 152,461 shares of the company traded hands, compared to its average volume of 202,222. Primerica, Inc. has a 1-year low of $70.00 and a 1-year high of $108.05. The company has a market capitalization of $4,440.00, a PE ratio of 18.10, a price-to-earnings-growth ratio of 1.41 and a beta of 1.14.
Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $1.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.17. The business had revenue of $442.94 million during the quarter, compared to analysts’ expectations of $435.87 million. Primerica had a net margin of 20.74% and a return on equity of 19.47%. Primerica’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.19 earnings per share. analysts expect that Primerica, Inc. will post 7.24 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Thursday, February 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.00%. This is a boost from Primerica’s previous quarterly dividend of $0.20. Primerica’s dividend payout ratio is 18.05%.
Primerica announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 7th that authorizes the company to buyback $225.00 million in shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
Primerica Company Profile
Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. 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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