Quantum Capital Management LLC NJ Trims Stake in Primerica, Inc. (PRI)
Quantum Capital Management LLC NJ reduced its position in shares of Primerica, Inc. (NYSE:PRI) by 28.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,115 shares of the financial services provider’s stock after selling 62,630 shares during the period. Primerica comprises about 3.6% of Quantum Capital Management LLC NJ’s investment portfolio, making the stock its 10th largest holding. Quantum Capital Management LLC NJ owned 0.34% of Primerica worth $11,674,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Primerica by 13.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,081 shares of the financial services provider’s stock worth $158,000 after buying an additional 242 shares during the period. Riverhead Capital Management LLC boosted its position in shares of Primerica by 68.7% during the second quarter. Riverhead Capital Management LLC now owns 2,530 shares of the financial services provider’s stock worth $192,000 after buying an additional 1,030 shares during the period. Independent Portfolio Consultants Inc. acquired a new position in shares of Primerica during the second quarter worth about $211,000. World Asset Management Inc acquired a new position in shares of Primerica during the first quarter worth about $233,000. Finally, TD Asset Management Inc. boosted its position in shares of Primerica by 1.7% during the first quarter. TD Asset Management Inc. now owns 3,030 shares of the financial services provider’s stock worth $249,000 after buying an additional 52 shares during the period. 94.89% of the stock is owned by institutional investors.
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In other Primerica news, President Peter W. Schneider sold 1,301 shares of Primerica stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $76.92, for a total transaction of $100,072.92. Following the completion of the transaction, the president now owns 28,138 shares in the company, valued at approximately $2,164,374.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Alison S. Rand sold 2,000 shares of Primerica stock in a transaction dated 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 owns 35,385 shares of the company’s stock, valued at approximately $2,706,952.50. The disclosure for this sale can be found here. Insiders have sold a total of 6,301 shares of company stock valued at $495,113 in the last quarter. Company insiders own 0.86% of the company’s stock.
Several research analysts have recently weighed in on the company. Wells Fargo & Company reaffirmed a “hold” rating on shares of Primerica in a research report on Tuesday, August 8th. BidaskClub raised Primerica from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. Zacks Investment Research cut Primerica from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $83.00 price objective on shares of Primerica in a research report on Friday, June 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Primerica presently has a consensus rating of “Hold” and an average target price of $83.75.
Primerica, Inc. (PRI) traded down 0.80% during mid-day trading on Wednesday, reaching $74.30. The company had a trading volume of 56,382 shares. The company has a market capitalization of $3.33 billion, a P/E ratio of 15.14 and a beta of 1.14. Primerica, Inc. has a one year low of $52.50 and a one year high of $86.45. The stock has a 50 day moving average price of $78.41 and a 200 day moving average price of $78.88.
Primerica (NYSE:PRI) last released its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.01. The business had revenue of $413.70 million during the quarter, compared to the consensus estimate of $410.97 million. Primerica had a return on equity of 18.48% and a net margin of 14.41%. The company’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.23 EPS. On average, equities analysts expect that Primerica, Inc. will post $5.22 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 18th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.80 dividend on an annualized basis and a yield of 1.07%. This is an increase from Primerica’s previous quarterly dividend of $0.19. Primerica’s payout ratio is 16.33%.
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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