Parkwood LLC acquired a new stake in shares of Primerica, Inc. (NYSE:PRI) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 35,053 shares of the financial services provider’s stock, valued at approximately $3,491,000.
Several other hedge funds and other institutional investors also recently modified their holdings of PRI. Quadrature Capital Ltd bought a new position in shares of Primerica during the first quarter valued at $204,000. Atria Investments LLC bought a new position in shares of Primerica during the second quarter valued at $211,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Primerica during the second quarter valued at $212,000. Mount Yale Investment Advisors LLC bought a new position in shares of Primerica during the first quarter valued at $265,000. Finally, Csenge Advisory Group lifted its holdings in shares of Primerica by 34.8% during the first quarter. Csenge Advisory Group now owns 2,790 shares of the financial services provider’s stock valued at $270,000 after acquiring an additional 720 shares during the period. 89.07% of the stock is owned by institutional investors.
Primerica stock opened at $118.30 on Monday. Primerica, Inc. has a 12-month low of $71.60 and a 12-month high of $120.30. The stock has a market capitalization of $5.07 billion, a P/E ratio of 21.43 and a beta of 1.20.
Primerica (NYSE:PRI) last released its quarterly earnings results on Tuesday, August 7th. The financial services provider reported $1.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.81 by $0.12. Primerica had a return on equity of 21.07% and a net margin of 21.55%. The business had revenue of $467.82 million during the quarter, compared to analysts’ expectations of $466.82 million. During the same period in the previous year, the business posted $1.36 earnings per share. research analysts predict that Primerica, Inc. will post 7.18 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Tuesday, August 21st will be issued a $0.25 dividend. The ex-dividend date is Monday, August 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.85%. Primerica’s dividend payout ratio is 18.12%.
In related news, insider William A. Kelly sold 1,250 shares of Primerica stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $118.23, for a total value of $147,787.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gregory C. Pitts sold 3,000 shares of Primerica stock in a transaction dated Monday, July 9th. The shares were sold at an average price of $105.04, for a total value of $315,120.00. Following the completion of the transaction, the vice president now directly owns 15,058 shares of the company’s stock, valued at $1,581,692.32. The disclosure for this sale can be found here. Insiders sold 5,500 shares of company stock valued at $593,383 over the last ninety days. 0.89% of the stock is currently owned by company insiders.
A number of research analysts have issued reports on the company. Zacks Investment Research raised Primerica from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a report on Saturday, August 11th. ValuEngine raised Primerica from a “hold” rating to a “buy” rating in a report on Saturday, July 28th. SunTrust Banks lifted their price objective on Primerica to $118.00 and gave the company a “hold” rating in a report on Monday, July 30th. Wells Fargo & Co set a $102.00 price objective on Primerica and gave the company a “hold” rating in a report on Tuesday, May 8th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $112.00 price objective on shares of Primerica in a report on Thursday, July 19th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $116.00.
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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