Intrust Bank NA lifted its position in shares of Primerica, Inc. (NYSE:PRI) by 18.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,840 shares of the financial services provider’s stock after purchasing an additional 597 shares during the period. Intrust Bank NA’s holdings in Primerica were worth $390,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp grew its stake in Primerica by 1.3% during the second quarter. State Street Corp now owns 1,780,565 shares of the financial services provider’s stock valued at $134,879,000 after acquiring an additional 22,430 shares in the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of Primerica in the 2nd quarter worth approximately $282,000. Nomura Holdings Inc. bought a new stake in shares of Primerica in the 2nd quarter worth approximately $283,000. Koch Industries Inc. bought a new stake in shares of Primerica in the 2nd quarter worth approximately $237,000. Finally, Shell Asset Management Co. raised its holdings in Primerica by 188.5% during the 3rd quarter. Shell Asset Management Co. now owns 55,222 shares of the financial services provider’s stock valued at $2,663,000 after buying an additional 36,080 shares during the last quarter. 93.20% of the stock is currently owned by institutional investors.
In other news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $98.67, for a total transaction of $296,010.00. Following the transaction, the chief executive officer now owns 63,095 shares in the company, valued at $6,225,583.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.86% of the company’s stock.
A number of equities research analysts recently commented on the stock. Wells Fargo & Co set a $102.00 price target on shares of Primerica and gave the company a “hold” rating in a report on Wednesday, February 7th. ValuEngine raised shares of Primerica from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. SunTrust Banks upped their price target on shares of Primerica to $112.00 and gave the stock a “hold” rating in a research note on Monday, January 22nd. Zacks Investment Research cut shares of Primerica from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $95.00 price target on shares of Primerica in a research note on Friday, November 10th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $101.25.
Primerica, Inc. (NYSE:PRI) traded up $0.90 during mid-day trading on Friday, hitting $99.95. 79,858 shares of the company were exchanged, compared to its average volume of 202,331. The stock has a market capitalization of $4,410.00, a price-to-earnings ratio of 13.09, a PEG ratio of 1.38 and a beta of 1.14. Primerica, Inc. has a 1 year low of $70.00 and a 1 year high of $108.05.
Primerica (NYSE:PRI) last released its earnings results on Wednesday, February 7th. The financial services provider reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.17. The business had revenue of $442.94 million during the quarter, compared to the consensus estimate of $435.87 million. Primerica had a return on equity of 19.47% and a net margin of 20.74%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the company earned $1.19 earnings per share. sell-side analysts expect that Primerica, Inc. will post 7.24 EPS for the current fiscal year.
Primerica announced that its board has approved a share buyback program on Wednesday, February 7th that permits the company to buyback $225.00 million in shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Thursday, February 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.00%. This is a positive change from Primerica’s previous quarterly dividend of $0.20. Primerica’s dividend payout ratio (DPR) is currently 13.12%.
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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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