Primerica, Inc. (PRI) Stake Increased by Dorsey Wright & Associates
Dorsey Wright & Associates grew its position in Primerica, Inc. (NYSE:PRI) by 30.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,704 shares of the financial services provider’s stock after buying an additional 4,786 shares during the period. Dorsey Wright & Associates’ holdings in Primerica were worth $1,688,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Mountain Capital Investment Advisors Inc bought a new stake in shares of Primerica in the 2nd quarter valued at about $125,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Primerica by 13.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,081 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 242 shares in the last quarter. Flinton Capital Management LLC boosted its stake in Primerica by 69.5% in the 2nd quarter. Flinton Capital Management LLC now owns 2,224 shares of the financial services provider’s stock worth $169,000 after purchasing an additional 912 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in Primerica by 68.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,530 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 1,030 shares in the last quarter. Finally, World Asset Management Inc boosted its stake 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 in the last quarter. Institutional investors and hedge funds own 93.83% of the company’s stock.
In other news, VP Gregory C. Pitts sold 5,000 shares of Primerica stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $92.40, for a total transaction of $462,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Peter W. Schneider sold 1,301 shares of Primerica stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $76.92, for a total transaction of $100,072.92. Following the transaction, 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 have sold a total of 8,301 shares of company stock valued at $715,073 over the last three months. 0.86% of the stock is currently owned by insiders.
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Primerica, Inc. (NYSE:PRI) traded up $0.50 on Tuesday, reaching $100.10. 484,500 shares of the company’s stock were exchanged, compared to its average volume of 308,601. Primerica, Inc. has a 12 month low of $67.40 and a 12 month high of $100.65. The stock has a market cap of $4,407.11, a price-to-earnings ratio of 19.45, a PEG ratio of 1.86 and a beta of 1.18.
Primerica (NYSE:PRI) last posted its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.09. Primerica had a net margin of 14.55% and a return on equity of 18.94%. The company had revenue of $427.30 million during the quarter, compared to analyst estimates of $425.83 million. During the same period last year, the firm posted $1.22 EPS. Primerica’s revenue for the quarter was up 11.4% compared to the same quarter last year. sell-side analysts forecast that Primerica, Inc. will post 5.36 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Thursday, November 16th. Primerica’s dividend payout ratio is presently 15.56%.
A number of analysts recently commented on the stock. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $95.00 target price on shares of Primerica in a research note on Friday. SunTrust Banks, Inc. cut shares of Primerica from a “buy” rating to a “hold” rating in a research note on Thursday, October 19th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Primerica from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a research note on Wednesday, October 11th. BidaskClub cut shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Finally, Wells Fargo & Company reiterated a “hold” rating on shares of Primerica in a research note on Tuesday, August 8th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $90.50.
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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