Primerica, Inc. (PRI) Stake Decreased by Profund Advisors LLC
Profund Advisors LLC lowered its position in Primerica, Inc. (NYSE:PRI) by 30.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,046 shares of the financial services provider’s stock after selling 2,623 shares during the period. Profund Advisors LLC’s holdings in Primerica were worth $458,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Prudential Financial Inc. boosted its holdings in shares of Primerica by 5.0% in the 1st quarter. Prudential Financial Inc. now owns 32,041 shares of the financial services provider’s stock worth $2,634,000 after acquiring an additional 1,528 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Primerica by 142.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 858,611 shares of the financial services provider’s stock worth $70,578,000 after acquiring an additional 503,786 shares during the last quarter. JPMorgan Chase & Co. grew its position in Primerica by 1.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 502,000 shares of the financial services provider’s stock worth $38,026,000 after acquiring an additional 5,981 shares during the last quarter. United Services Automobile Association bought a new stake in Primerica during the 1st quarter worth approximately $510,000. Finally, FMR LLC grew its position in Primerica by 10.7% during the 1st quarter. FMR LLC now owns 1,752,471 shares of the financial services provider’s stock worth $144,053,000 after acquiring an additional 169,689 shares during the last quarter. Institutional investors own 94.82% of the company’s stock.
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In related news, VP Alison S. Rand sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $76.50, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Peter W. Schneider sold 1,301 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $76.92, for a total value of $100,072.92. Following the completion of the sale, the president now directly owns 28,138 shares in the company, valued at $2,164,374.96. 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 three months. 0.86% of the stock is owned by insiders.
A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $83.00 price target on shares of Primerica in a report on Friday, June 23rd. BidaskClub raised Primerica from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Zacks Investment Research lowered Primerica from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Finally, Wells Fargo & Company reissued 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 assigned a hold rating and one has assigned a buy rating to the company’s stock. Primerica currently has an average rating of “Hold” and an average price target of $83.75.
Shares of Primerica, Inc. (PRI) opened at 81.55 on Monday. The firm has a 50-day moving average of $77.51 and a 200 day moving average of $78.63. Primerica, Inc. has a 52-week low of $52.60 and a 52-week high of $86.45. The firm has a market cap of $3.66 billion, a PE ratio of 16.61 and a beta of 1.17.
Primerica (NYSE:PRI) last issued its 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. Primerica had a return on equity of 18.48% and a net margin of 14.41%. The firm had revenue of $413.70 million for the quarter, compared to the consensus estimate of $410.97 million. During the same quarter last year, the business posted $1.23 EPS. The company’s revenue was up 9.2% compared to the same quarter last year. On average, equities analysts predict that Primerica, Inc. will post $5.22 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 18th were issued a dividend of $0.20 per share. The ex-dividend date was Wednesday, August 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.98%. This is a boost from Primerica’s previous quarterly dividend of $0.19. Primerica’s payout ratio is 16.33%.
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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