Aurora Investment Counsel bought a new position in Primerica, Inc. (NYSE:PRI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,737 shares of the financial services provider’s stock, valued at approximately $786,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Mountain Capital Investment Advisors Inc bought a new stake in shares of Primerica during the second quarter worth approximately $125,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Primerica by 13.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,081 shares of the financial services provider’s stock worth $158,000 after buying an additional 242 shares during the last quarter. Flinton Capital Management LLC raised its stake in shares of Primerica by 69.5% during the second quarter. Flinton Capital Management LLC now owns 2,224 shares of the financial services provider’s stock worth $169,000 after buying an additional 912 shares during the last quarter. Riverhead Capital Management LLC raised its stake in shares of Primerica by 68.7% during the second quarter. Riverhead Capital Management LLC now owns 2,530 shares of the financial services provider’s stock worth $192,000 after buying an additional 1,030 shares during the last quarter. Finally, Magnetar Financial LLC bought a new stake in shares of Primerica during the third quarter worth approximately $204,000. 95.89% of the stock is owned by institutional investors.
A number of equities research analysts recently weighed in on PRI shares. Zacks Investment Research raised shares of Primerica from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a research note on Wednesday, October 11th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $87.00 price target on shares of Primerica in a research note on Monday, October 16th. SunTrust Banks downgraded 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. ValuEngine raised shares of Primerica from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Wells Fargo & Co restated a “market perform” rating and set a $100.00 price objective (up previously from $95.00) on shares of Primerica in a report on Tuesday. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $92.40.
In other news, VP Gregory C. Pitts sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $92.40, for a total value of $462,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.86% of the stock is currently owned by insiders.
Primerica, Inc. (NYSE PRI) opened at $103.90 on Friday. The stock has a market cap of $4,600.00, a P/E ratio of 20.17, a P/E/G ratio of 1.74 and a beta of 1.24. Primerica, Inc. has a 1-year low of $70.00 and a 1-year high of $106.40.
Primerica (NYSE:PRI) last issued its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.09. The firm had revenue of $427.30 million during the quarter, compared to analysts’ expectations of $425.83 million. Primerica had a net margin of 14.55% and a return on equity of 18.94%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.22 earnings per share. equities research analysts forecast that Primerica, Inc. will post 5.36 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 17th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date was Thursday, November 16th. Primerica’s dividend payout ratio is currently 15.53%.
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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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