Fmr LLC lifted its position in Primerica, Inc. (NYSE:PRI) by 46.5% in the third quarter, HoldingsChannel.com reports. The firm owned 2,187,922 shares of the financial services provider’s stock after buying an additional 694,763 shares during the period. Fmr LLC owned 0.05% of Primerica worth $263,755,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. purchased a new stake in shares of Primerica in the third quarter valued at approximately $224,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Primerica in the second quarter valued at approximately $212,000. Advisors Preferred LLC purchased a new stake in shares of Primerica in the third quarter valued at approximately $299,000. Commonwealth Bank of Australia purchased a new stake in shares of Primerica in the third quarter valued at approximately $421,000. Finally, New England Asset Management Inc. purchased a new stake in shares of Primerica in the second quarter valued at approximately $377,000. Hedge funds and other institutional investors own 89.57% of the company’s stock.
A number of brokerages recently issued reports on PRI. ValuEngine lowered Primerica from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Zacks Investment Research upgraded Primerica from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a report on Saturday, August 11th. Finally, Citigroup lowered Primerica from a “neutral” rating to a “sell” rating and upped their target price for the stock from $100.00 to $108.00 in a report on Tuesday, September 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $114.40.
Primerica (NYSE:PRI) last posted its earnings results on Tuesday, November 6th. The financial services provider reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.07. The company had revenue of $484.78 million during the quarter, compared to analyst estimates of $478.87 million. Primerica had a return on equity of 21.72% and a net margin of 21.88%. Primerica’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.46 earnings per share. As a group, equities analysts forecast that Primerica, Inc. will post 7.22 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Tuesday, November 20th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 19th. This represents a $1.00 dividend on an annualized basis and a yield of 0.85%. Primerica’s dividend payout ratio is currently 18.12%.
In other Primerica news, VP Gregory C. Pitts sold 2,449 shares of the company’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $122.28, for a total transaction of $299,463.72. Following the completion of the sale, the vice president now owns 12,609 shares in the company, valued at $1,541,828.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Alison S. Rand sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $113.03, for a total value of $226,060.00. Following the transaction, the chief financial officer now directly owns 20,861 shares in the company, valued at $2,357,918.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,712 shares of company stock valued at $1,634,536. 0.89% of the stock is owned by company insiders.
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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