Pacer Advisors Inc. Boosts Holdings in Primerica, Inc. (PRI)
Pacer Advisors Inc. grew its holdings in Primerica, Inc. (NYSE:PRI) by 47.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,930 shares of the financial services provider’s stock after acquiring an additional 1,593 shares during the period. Pacer Advisors Inc.’s holdings in Primerica were worth $373,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also bought and sold shares of the business. Prudential Financial Inc. grew its stake in shares of Primerica by 4.8% in the second quarter. Prudential Financial Inc. now owns 33,571 shares of the financial services provider’s stock worth $2,543,000 after acquiring an additional 1,530 shares in the last quarter. Zweig DiMenna Associates LLC acquired a new position in shares of Primerica in the second quarter worth $3,717,000. Federated Investors Inc. PA grew its stake in shares of Primerica by 18.7% in the second quarter. Federated Investors Inc. PA now owns 103,862 shares of the financial services provider’s stock worth $7,867,000 after acquiring an additional 16,392 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Primerica by 0.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 28,124 shares of the financial services provider’s stock worth $2,130,000 after acquiring an additional 225 shares in the last quarter. Finally, Redwood Investments LLC grew its stake in shares of Primerica by 155.6% in the second quarter. Redwood Investments LLC now owns 103,955 shares of the financial services provider’s stock worth $7,875,000 after acquiring an additional 63,291 shares in the last quarter. Institutional investors and hedge funds own 94.89% of the company’s stock.
Primerica, Inc. (NYSE:PRI) opened at 73.20 on Monday. The company’s 50 day moving average is $78.52 and its 200-day moving average is $78.94. Primerica, Inc. has a 52 week low of $52.50 and a 52 week high of $86.45. The firm has a market cap of $3.29 billion, a P/E ratio of 14.91 and a beta of 1.14.
Primerica (NYSE:PRI) last released its quarterly earnings results 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. The business had revenue of $413.70 million during the quarter, compared to analyst estimates of $410.97 million. Primerica had a net margin of 14.41% and a return on equity of 18.48%. The business’s revenue was up 9.2% on a year-over-year basis. During the same period last year, the business earned $1.23 EPS. Equities analysts expect that Primerica, Inc. will post $5.22 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 18th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.09%. This is a positive change from Primerica’s previous quarterly dividend of $0.19. The ex-dividend date is Wednesday, August 16th. Primerica’s dividend payout ratio (DPR) is presently 16.33%.
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Several equities analysts have commented on PRI shares. Keefe, Bruyette & Woods restated a “hold” rating and issued a $83.00 price target on shares of Primerica in a research note on Friday, June 23rd. BidaskClub upgraded shares of Primerica from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Zacks Investment Research downgraded shares of Primerica from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Finally, Wells Fargo & Company restated a “hold” rating on shares of Primerica in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Primerica currently has a consensus rating of “Hold” and a consensus target price of $83.75.
In related news, President Peter W. Schneider sold 1,301 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $76.92, for a total transaction of $100,072.92. Following the completion of the sale, the president now directly owns 28,138 shares of the company’s stock, valued at approximately $2,164,374.96. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Alison S. Rand sold 2,000 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $76.50, for a total transaction of $153,000.00. Following the sale, the vice president now directly owns 35,385 shares of the company’s stock, valued at $2,706,952.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,301 shares of company stock valued at $495,113. Company insiders own 0.86% of the company’s stock.
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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