Horizon Investment Services LLC acquired a new position in shares of Primerica, Inc. (NYSE:PRI) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,323 shares of the financial services provider’s stock, valued at approximately $1,013,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Russell Investments Group Ltd. bought a new position in Primerica during the fourth quarter worth $1,272,000. Comerica Bank raised its position in Primerica by 4.2% in the fourth quarter. Comerica Bank now owns 34,691 shares of the financial services provider’s stock worth $2,588,000 after buying an additional 1,402 shares during the period. Federated Investors Inc. PA raised its position in Primerica by 66.5% in the fourth quarter. Federated Investors Inc. PA now owns 91,399 shares of the financial services provider’s stock worth $6,321,000 after buying an additional 36,502 shares during the period. O Shaughnessy Asset Management LLC raised its position in Primerica by 1.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,582 shares of the financial services provider’s stock worth $109,000 after buying an additional 16 shares during the period. Finally, Elkfork Partners LLC bought a new position in Primerica during the fourth quarter worth $223,000. 97.52% of the stock is owned by institutional investors.
Primerica, Inc. (NYSE PRI) traded down 0.67% during mid-day trading on Wednesday, hitting $74.65. The company’s stock had a trading volume of 269,985 shares. The firm’s 50-day moving average is $76.58 and its 200-day moving average is $77.27. Primerica, Inc. has a 12-month low of $49.69 and a 12-month high of $86.45. The company has a market cap of $3.40 billion, a P/E ratio of 15.60 and a beta of 1.17.
Primerica (NYSE:PRI) last released its earnings results on Tuesday, May 9th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.15 by $0.04. Primerica had a net margin of 14.49% and a return on equity of 18.22%. The business had revenue of $405.20 million during the quarter, compared to the consensus estimate of $401.58 million. During the same quarter in the prior year, the firm earned $0.93 EPS. The business’s revenue was up 11.7% on a year-over-year basis. Analysts predict that Primerica, Inc. will post $5.23 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Friday, May 19th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date was Wednesday, May 17th. Primerica’s dividend payout ratio is presently 15.93%.
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A number of research firms have commented on PRI. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $81.00 target price on shares of Primerica in a report on Monday, April 10th. William Blair lowered Primerica from an “outperform” rating to a “market perform” rating in a report on Friday, April 21st. They noted that the move was a valuation call. Wells Fargo & Company lowered Primerica from an “outperform” rating to a “market perform” rating in a report on Thursday, April 20th. Finally, Zacks Investment Research lowered Primerica from a “buy” rating to a “hold” rating in a report on Friday, May 12th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $83.25.
In other Primerica news, insider William A. Kelly sold 2,500 shares of Primerica stock in a transaction dated Wednesday, April 5th. The stock was sold at an average price of $82.29, for a total value of $205,725.00. Following the transaction, the insider now owns 20,486 shares in the company, valued at $1,685,792.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Alison S. Rand sold 2,000 shares of Primerica stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $71.55, for a total value of $143,100.00. Following the completion of the transaction, the vice president now owns 37,385 shares in the company, valued at approximately $2,674,896.75. The disclosure for this sale can be found here. Insiders own 1.24% of the company’s stock.
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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