Maverick Capital Ltd. Acquires Shares of 47,922 Primerica, Inc. (PRI)
Maverick Capital Ltd. acquired a new stake in Primerica, Inc. (NYSE:PRI) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 47,922 shares of the financial services provider’s stock, valued at approximately $3,630,000. Maverick Capital Ltd. owned approximately 0.11% of Primerica at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in PRI. Russell Investments Group Ltd. grew its holdings in shares of Primerica by 46.3% in the 1st quarter. Russell Investments Group Ltd. now owns 26,647 shares of the financial services provider’s stock valued at $2,190,000 after acquiring an additional 8,436 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of Primerica by 5.6% in the 1st quarter. UBS Asset Management Americas Inc. now owns 45,681 shares of the financial services provider’s stock valued at $3,755,000 after acquiring an additional 2,424 shares in the last quarter. TD Asset Management Inc. grew its holdings 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 acquiring an additional 52 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Primerica by 0.4% in the 1st quarter. Ameriprise Financial Inc. now owns 148,289 shares of the financial services provider’s stock valued at $12,190,000 after acquiring an additional 526 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new position in shares of Primerica in the 1st quarter valued at about $274,000. Institutional investors own 94.82% of the company’s stock.
Several equities analysts have recently weighed in on PRI shares. BidaskClub cut Primerica from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $83.00 price objective on shares of Primerica in a report on Friday, June 23rd. Wells Fargo & Company restated a “hold” rating on shares of Primerica in a report on Tuesday, August 8th. Finally, Zacks Investment Research cut Primerica from a “hold” rating to a “sell” rating in a report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $84.67.
In other Primerica news, VP Alison S. Rand sold 2,000 shares of the company’s 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 completion of the sale, the vice president now directly owns 35,385 shares of the company’s stock, valued at approximately $2,706,952.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Peter W. Schneider sold 1,301 shares of the company’s 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 sale, the president now directly owns 28,138 shares of the company’s stock, valued at $2,164,374.96. The disclosure for this sale can be found here. Insiders sold a total of 6,301 shares of company stock valued at $495,113 over the last ninety days. 0.86% of the stock is currently owned by insiders.
Shares of Primerica, Inc. (NYSE:PRI) traded up 0.90% during trading on Friday, hitting $84.45. The stock had a trading volume of 46,802 shares. Primerica, Inc. has a 1-year low of $52.75 and a 1-year high of $86.45. The company has a market capitalization of $3.79 billion, a P/E ratio of 17.20 and a beta of 1.17. The firm has a 50-day moving average of $77.30 and a 200 day moving average of $78.58.
Primerica (NYSE:PRI) last issued its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.01. Primerica had a net margin of 14.41% and a return on equity of 18.48%. The business had revenue of $413.70 million during the quarter, compared to the consensus estimate of $410.97 million. During the same period in the prior year, the firm posted $1.23 EPS. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. Equities research analysts predict that Primerica, Inc. will post $5.22 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 18th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.96%. This is an increase 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 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.
Receive News & Stock Ratings for Primerica Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primerica Inc. and related stocks with our FREE daily email newsletter.