Primerica, Inc. (PRI) Holdings Boosted by Amalgamated Bank
Amalgamated Bank raised its holdings in Primerica, Inc. (NYSE:PRI) by 1.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,552 shares of the financial services provider’s stock after purchasing an additional 113 shares during the period. Amalgamated Bank’s holdings in Primerica were worth $496,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the business. World Asset Management Inc raised its position in shares of Primerica by 0.6% in the 2nd quarter. World Asset Management Inc now owns 2,856 shares of the financial services provider’s stock valued at $216,000 after purchasing an additional 18 shares in the last quarter. TD Asset Management Inc. raised its position in shares of Primerica by 1.7% in the 1st quarter. TD Asset Management Inc. now owns 3,030 shares of the financial services provider’s stock valued at $249,000 after purchasing an additional 52 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of 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 valued at $278,000 after purchasing an additional 69 shares in the last quarter. Blair William & Co. IL raised its position in shares of Primerica by 1.5% in the 1st quarter. Blair William & Co. IL now owns 8,293 shares of the financial services provider’s stock valued at $676,000 after purchasing an additional 121 shares in the last quarter. Finally, Texas Permanent School Fund raised its position in shares of Primerica by 0.4% in the 2nd quarter. Texas Permanent School Fund now owns 33,221 shares of the financial services provider’s stock valued at $2,516,000 after purchasing an additional 133 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors.
A number of equities analysts have issued reports on PRI shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $83.00 target price on shares of Primerica in a research report on Friday, June 23rd. BidaskClub raised Primerica from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Wells Fargo & Company reaffirmed a “hold” rating on shares of Primerica in a research report on Tuesday, August 8th. Finally, Zacks Investment Research lowered Primerica from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Primerica has an average rating of “Hold” and a consensus target price of $84.67.
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Shares of Primerica, Inc. (NYSE PRI) opened at 82.20 on Thursday. The company’s 50 day moving average price is $77.18 and its 200 day moving average price is $78.54. Primerica, Inc. has a 52-week low of $52.75 and a 52-week high of $86.45. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 16.74 and a beta of 1.17.
Primerica (NYSE:PRI) last announced its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $1.36 earnings per share for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $410.97 million. During the same quarter last year, the firm earned $1.23 EPS. Primerica’s revenue for the quarter was up 9.2% compared to the same quarter last year. Analysts forecast that Primerica, Inc. will post $5.22 earnings per share for the current year.
The company also recently disclosed 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. This represents a $0.80 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Wednesday, August 16th. This is a positive change from Primerica’s previous quarterly dividend of $0.19. Primerica’s dividend payout ratio (DPR) is presently 16.33%.
In other news, President Peter W. Schneider sold 1,301 shares of Primerica stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $76.92, for a total transaction of $100,072.92. Following the sale, the president now owns 28,138 shares of the company’s stock, valued at approximately $2,164,374.96. The sale was disclosed in a legal filing 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 that occurred on 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 in the company, 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 worth $495,113 in the last three months. 0.86% of the stock is owned by insiders.
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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