Primerica, Inc. (PRI) VP Alison S. Rand Sells 2,000 Shares
Primerica, Inc. (NYSE:PRI) VP Alison S. Rand sold 2,000 shares of Primerica stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $76.50, for a total value of $153,000.00. Following the transaction, the vice president now directly owns 35,385 shares in the company, valued at approximately $2,706,952.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Primerica, Inc. (NYSE PRI) traded up 0.39% on Friday, reaching $76.85. The company’s stock had a trading volume of 164,862 shares. Primerica, Inc. has a 12-month low of $52.50 and a 12-month high of $86.45. The stock has a market cap of $3.45 billion, a PE ratio of 15.65 and a beta of 1.15. The company’s 50 day moving average price is $79.07 and its 200-day moving average price is $79.15.
Primerica (NYSE:PRI) last posted its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $1.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.01. Primerica had a return on equity of 18.48% and a net margin of 14.41%. The company had revenue of $413.70 million during the quarter, compared to analyst estimates of $410.97 million. During the same quarter last year, the company earned $1.23 EPS. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, equities analysts expect that Primerica, Inc. will post $5.22 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 18th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Wednesday, August 16th. This is a positive change from Primerica’s previous quarterly dividend of $0.19. Primerica’s dividend payout ratio (DPR) is 16.33%.
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Hedge funds have recently modified their holdings of the stock. Phocas Financial Corp. increased its stake in shares of Primerica by 4.7% in the second quarter. Phocas Financial Corp. now owns 92,696 shares of the financial services provider’s stock valued at $7,022,000 after buying an additional 4,138 shares in the last quarter. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Primerica during the second quarter valued at approximately $125,000. Colony Group LLC acquired a new stake in shares of Primerica during the second quarter valued at approximately $298,000. Koch Industries Inc. acquired a new stake in shares of Primerica during the second quarter valued at approximately $237,000. Finally, Nomura Holdings Inc. acquired a new stake in shares of Primerica during the second quarter valued at approximately $283,000. Institutional investors and hedge funds own 94.89% of the company’s stock.
Several research analysts recently issued reports on PRI shares. Zacks Investment Research cut Primerica from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $81.00 target price on shares of Primerica in a research report on Friday, May 12th. BidaskClub raised Primerica from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Finally, Wells Fargo & Company reaffirmed a “hold” rating on shares of Primerica in a research report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $83.75.
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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