Paloma Partners Management Co increased its position in Primerica, Inc. (NYSE:PRI) by 39.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,155 shares of the financial services provider’s stock after acquiring an additional 4,554 shares during the period. Paloma Partners Management Co’s holdings in Primerica were worth $1,641,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in PRI. Crossmark Global Holdings Inc. purchased a new position in Primerica in the 3rd quarter worth approximately $508,000. Prudential Financial Inc. raised its stake in Primerica by 4.7% during the 3rd quarter. Prudential Financial Inc. now owns 35,158 shares of the financial services provider’s stock valued at $2,867,000 after buying an additional 1,587 shares during the last quarter. New York State Common Retirement Fund raised its stake in Primerica by 2.6% during the 3rd quarter. New York State Common Retirement Fund now owns 70,034 shares of the financial services provider’s stock valued at $5,711,000 after buying an additional 1,768 shares during the last quarter. Rhumbline Advisers raised its stake in Primerica by 15.0% during the 3rd quarter. Rhumbline Advisers now owns 108,822 shares of the financial services provider’s stock valued at $8,874,000 after buying an additional 14,212 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Primerica by 51.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 74,929 shares of the financial services provider’s stock valued at $6,110,000 after buying an additional 25,388 shares during the last quarter. Institutional investors own 91.46% of the company’s stock.
Shares of Primerica, Inc. (NYSE:PRI) opened at $100.55 on Friday. The firm has a market cap of $4,444.46, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14. Primerica, Inc. has a 12 month low of $70.00 and a 12 month high of $108.05.
Primerica (NYSE:PRI) last announced its earnings results on Wednesday, February 7th. The financial services provider reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.17. The business had revenue of $442.94 million during the quarter, compared to analyst estimates of $435.87 million. Primerica had a net margin of 20.74% and a return on equity of 19.47%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.19 EPS. analysts expect that Primerica, Inc. will post 7.24 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Thursday, February 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.99%. This is a positive change from Primerica’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, February 14th. Primerica’s dividend payout ratio is 13.07%.
Primerica announced that its board has approved a stock repurchase program on Wednesday, February 7th that authorizes the company to repurchase $225.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Wells Fargo & Co set a $102.00 target price on shares of Primerica and gave the company a “hold” rating in a research note on Wednesday, February 7th. ValuEngine upgraded shares of Primerica from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, SunTrust Banks boosted their target price on shares of Primerica to $112.00 and gave the company a “hold” rating in a research note on Monday, January 22nd. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $101.25.
In other news, VP Alison S. Rand sold 10,000 shares of the company’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $102.49, for a total value of $1,024,900.00. Following the completion of the sale, the vice president now directly owns 26,861 shares in the company, valued at approximately $2,752,983.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $98.67, for a total value of $296,010.00. Following the completion of the sale, the chief executive officer now owns 63,095 shares of the company’s stock, valued at $6,225,583.65. The disclosure for this sale can be found here. Insiders sold a total of 17,482 shares of company stock valued at $1,770,883 over the last 90 days. 0.86% of the stock is currently owned by company insiders.
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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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