ELCO Management Co. LLC Holds Position in Primerica, Inc. (PRI)
ELCO Management Co. LLC maintained its position in shares of Primerica, Inc. (NYSE:PRI) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,000 shares of the financial services provider’s stock at the close of the 2nd quarter. ELCO Management Co. LLC’s holdings in Primerica were worth $303,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. World Asset Management Inc lifted its holdings in Primerica by 0.6% in the 2nd quarter. World Asset Management Inc now owns 2,856 shares of the financial services provider’s stock worth $216,000 after purchasing an additional 18 shares during the last quarter. TD Asset Management Inc. lifted its holdings in Primerica by 1.7% in the 1st quarter. TD Asset Management Inc. now owns 3,030 shares of the financial services provider’s stock worth $249,000 after purchasing an additional 52 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in Primerica by 1.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,669 shares of the financial services provider’s stock worth $278,000 after purchasing an additional 69 shares during the last quarter. Balyasny Asset Management LLC lifted its holdings in Primerica by 0.8% in the 2nd quarter. Balyasny Asset Management LLC now owns 12,712 shares of the financial services provider’s stock worth $963,000 after purchasing an additional 100 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in Primerica by 1.8% in the 2nd quarter. Amalgamated Bank now owns 6,552 shares of the financial services provider’s stock worth $496,000 after purchasing an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.
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In other news, President Peter W. Schneider sold 1,301 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was 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 of the company’s stock, valued at $2,164,374.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $80.68, for a total value of $242,040.00. Following the completion of the sale, the chief executive officer now directly owns 77,895 shares of the company’s stock, valued at $6,284,568.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,301 shares of company stock valued at $495,113. Insiders own 0.86% of the company’s stock.
Several equities research analysts recently weighed in on PRI shares. Keefe, Bruyette & Woods restated a “hold” rating and issued a $83.00 target price on shares of Primerica in a report on Friday, June 23rd. BidaskClub upgraded Primerica from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Zacks Investment Research lowered Primerica from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, Wells Fargo & Company restated a “hold” rating on shares of Primerica in a report on Tuesday, August 8th. One 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. The stock has a consensus rating of “Hold” and an average price target of $84.67.
Primerica, Inc. (NYSE PRI) traded up 0.36% during midday trading on Thursday, reaching $82.50. The company had a trading volume of 17,131 shares. The company has a market cap of $3.70 billion, a PE ratio of 16.81 and a beta of 1.17. The company’s 50-day moving average is $77.18 and its 200 day moving average is $78.54. Primerica, Inc. has a 52-week low of $52.75 and a 52-week high of $86.45.
Primerica (NYSE:PRI) last released its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $1.36 earnings per share (EPS) 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 analysts’ expectations of $410.97 million. During the same period last year, the firm posted $1.23 earnings per share. The business’s revenue was up 9.2% on a year-over-year basis. On average, equities research analysts forecast that Primerica, Inc. will post $5.22 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 18th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.97%. This is a boost from Primerica’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Wednesday, August 16th. Primerica’s dividend payout ratio (DPR) is presently 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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