Primerica, Inc. (NYSE:PRI) Shares Bought by Paloma Partners Management Co

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Paloma Partners Management Co increased its holdings in Primerica, Inc. (NYSE:PRI) by 4,089.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 122,530 shares of the financial services provider’s stock after purchasing an additional 119,605 shares during the quarter. Paloma Partners Management Co owned 0.29% of Primerica worth $14,698,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Advisory Services Network LLC grew its position in shares of Primerica by 176.8% in the first quarter. Advisory Services Network LLC now owns 263 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 168 shares in the last quarter. TCI Wealth Advisors Inc. raised its stake in shares of Primerica by 50.0% in the second quarter. TCI Wealth Advisors Inc. now owns 300 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Kavar Capital Partners LLC acquired a new stake in shares of Primerica in the second quarter valued at $55,000. FNY Investment Advisers LLC acquired a new stake in shares of Primerica in the second quarter valued at $80,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Primerica by 433.5% in the second quarter. Tower Research Capital LLC TRC now owns 827 shares of the financial services provider’s stock valued at $99,000 after acquiring an additional 672 shares in the last quarter. 89.67% of the stock is owned by institutional investors.

PRI has been the topic of several analyst reports. Citigroup set a $108.00 price objective on Primerica and gave the company a “sell” rating in a research note on Thursday, May 23rd. Zacks Investment Research upgraded Primerica from a “hold” rating to a “buy” rating and set a $128.00 price objective on the stock in a research note on Tuesday, August 13th.

In other Primerica news, President Peter W. Schneider sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $119.26, for a total transaction of $357,780.00. Following the transaction, the president now owns 29,790 shares of the company’s stock, valued at $3,552,755.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Alison S. Rand sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $119.64, for a total value of $239,280.00. Following the transaction, the chief financial officer now directly owns 17,337 shares in the company, valued at approximately $2,074,198.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,000 shares of company stock worth $929,550. 0.84% of the stock is owned by insiders.

Primerica stock traded down $0.10 during midday trading on Thursday, reaching $125.44. The company’s stock had a trading volume of 10,143 shares, compared to its average volume of 191,539. Primerica, Inc. has a fifty-two week low of $90.28 and a fifty-two week high of $132.17. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.04. The company has a market cap of $5.14 billion, a P/E ratio of 17.11 and a beta of 1.38. The business has a 50-day simple moving average of $117.57 and a 200-day simple moving average of $122.01.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $2.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.14 by $0.07. Primerica had a return on equity of 22.77% and a net margin of 17.66%. The company had revenue of $504.90 million for the quarter, compared to analysts’ expectations of $503.84 million. During the same period last year, the firm earned $1.93 earnings per share. Primerica’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, equities analysts forecast that Primerica, Inc. will post 8.2 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Tuesday, August 20th. Primerica’s dividend payout ratio is presently 18.55%.

Primerica Profile

Primerica, Inc, together with its subsidiaries, provides financial products to middle income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.

Further Reading: Why does a company issue an IPO?

Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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