SunTrust Banks, Inc. cut shares of Primerica, Inc. (NYSE:PRI) from a buy rating to a hold rating in a report published on Thursday, October 19th, MarketBeat reports. The analysts noted that the move was a valuation call.
A number of other brokerages have also issued reports on PRI. BidaskClub lowered Primerica from a strong-buy rating to a buy rating in a research note on Friday, August 18th. Zacks Investment Research downgraded shares of Primerica from a hold rating to a sell rating in a report on Friday, August 11th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $83.00 price target on shares of Primerica in a report on Friday, June 23rd. Finally, Wells Fargo & Company reaffirmed a hold rating on shares of Primerica in a report on Tuesday, August 8th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $88.50.
Primerica (NYSE:PRI) traded down $0.20 during mid-day trading on Thursday, reaching $88.75. The company had a trading volume of 362,856 shares, compared to its average volume of 237,326. The company has a market cap of $3,980.00, a PE ratio of 18.17, a PEG ratio of 1.70 and a beta of 1.18. Primerica has a fifty-two week low of $54.00 and a fifty-two week high of $89.70.
Primerica (NYSE:PRI) last released its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.09. The business had revenue of $427.30 million for the quarter, compared to analysts’ expectations of $425.83 million. Primerica had a return on equity of 18.48% and a net margin of 14.41%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.22 EPS. research analysts forecast that Primerica will post 5.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, November 16th. Primerica’s dividend payout ratio is presently 16.26%.
In other news, VP Alison S. Rand sold 2,000 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $76.50, for a total transaction of $153,000.00. Following the sale, the vice president now directly owns 35,385 shares of the company’s stock, valued at $2,706,952.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Peter W. Schneider sold 1,301 shares of the business’s stock in a transaction 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 sale, the president now directly owns 28,138 shares in the company, valued at $2,164,374.96. The disclosure for this sale can be found here. Insiders have sold 6,301 shares of company stock valued at $495,113 in the last ninety days. Insiders own 0.86% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Mountain Capital Investment Advisors Inc acquired a new position in Primerica during the second quarter valued at $125,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Primerica by 13.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,081 shares of the financial services provider’s stock valued at $158,000 after purchasing an additional 242 shares during the period. Flinton Capital Management LLC lifted its position in Primerica by 69.5% during the second quarter. Flinton Capital Management LLC now owns 2,224 shares of the financial services provider’s stock valued at $169,000 after purchasing an additional 912 shares during the period. Riverhead Capital Management LLC lifted its position in Primerica by 68.7% during the second quarter. Riverhead Capital Management LLC now owns 2,530 shares of the financial services provider’s stock valued at $192,000 after purchasing an additional 1,030 shares during the period. Finally, Independent Portfolio Consultants Inc. acquired a new position in Primerica during the second quarter valued at $211,000. 94.70% of the stock is currently owned by hedge funds and other institutional investors.
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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