State Board of Administration of Florida Retirement System lessened its holdings in shares of Primerica (NYSE:PRI) by 6.7% during the first quarter, HoldingsChannel reports. The firm owned 24,158 shares of the financial services provider’s stock after selling 1,726 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Primerica were worth $2,334,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of PRI. Schwab Charles Investment Management Inc. boosted its position in shares of Primerica by 1.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 331,573 shares of the financial services provider’s stock worth $33,672,000 after acquiring an additional 5,550 shares in the last quarter. Strs Ohio boosted its position in shares of Primerica by 148.6% during the 4th quarter. Strs Ohio now owns 18,400 shares of the financial services provider’s stock worth $1,868,000 after acquiring an additional 11,000 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Primerica by 805.0% during the 4th quarter. SG Americas Securities LLC now owns 14,498 shares of the financial services provider’s stock worth $1,472,000 after acquiring an additional 12,896 shares in the last quarter. APG Asset Management N.V. boosted its position in shares of Primerica by 171.9% during the 4th quarter. APG Asset Management N.V. now owns 86,200 shares of the financial services provider’s stock worth $7,290,000 after acquiring an additional 54,500 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Primerica during the 4th quarter worth approximately $5,726,000. Institutional investors and hedge funds own 88.50% of the company’s stock.
Several analysts recently issued reports on the stock. ValuEngine lowered shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, April 13th. Wells Fargo & Co set a $102.00 price target on shares of Primerica and gave the stock a “hold” rating in a research report on Wednesday, February 7th. Finally, Zacks Investment Research lowered shares of Primerica from a “hold” rating to a “sell” rating in a research report on Friday, May 11th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $101.25.
Shares of Primerica opened at $98.65 on Friday, Marketbeat reports. The company has a market capitalization of $4.36 billion, a P/E ratio of 17.87, a P/E/G ratio of 1.38 and a beta of 1.14. Primerica has a one year low of $70.00 and a one year high of $108.05.
Primerica (NYSE:PRI) last issued its quarterly earnings data on Tuesday, May 8th. The financial services provider reported $1.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.49 by ($0.02). The company had revenue of $459.92 million during the quarter, compared to the consensus estimate of $459.83 million. Primerica had a net margin of 20.87% and a return on equity of 19.88%. Primerica’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.11 EPS. equities analysts expect that Primerica will post 7.21 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Tuesday, May 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Monday, May 21st. Primerica’s payout ratio is 18.12%.
Primerica declared that its Board of Directors has approved a stock buyback plan on Wednesday, February 7th that authorizes the company to repurchase $225.00 million in shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
In related news, Director Robert F. Mccullough sold 500 shares of the stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $95.90, for a total value of $47,950.00. Following the completion of the transaction, the director now owns 18,585 shares of the company’s stock, valued at approximately $1,782,301.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Alison S. Rand sold 2,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $100.95, for a total transaction of $201,900.00. Following the completion of the transaction, the chief financial officer now directly owns 31,385 shares of the company’s stock, valued at approximately $3,168,315.75. The disclosure for this sale can be found here. In the last three months, insiders sold 14,482 shares of company stock valued at $1,474,873. 0.89% of the stock is owned by insiders.
Primerica, Inc, together with its subsidiaries, distributes financial products to middle income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.
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