Victory Capital Management Inc. decreased its position in shares of Primerica, Inc. (NYSE:PRI) by 9.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 761,054 shares of the financial services provider’s stock after selling 74,972 shares during the period. Victory Capital Management Inc. owned 1.76% of Primerica worth $91,745,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of PRI. Atria Investments LLC purchased a new stake in Primerica during the second quarter valued at approximately $211,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Primerica during the second quarter valued at approximately $212,000. Advisors Preferred LLC purchased a new stake in Primerica during the third quarter valued at approximately $299,000. New England Asset Management Inc. purchased a new stake in Primerica during the second quarter valued at approximately $377,000. Finally, LPL Financial LLC purchased a new stake in Primerica during the first quarter valued at approximately $392,000. 88.53% of the stock is owned by institutional investors.
PRI has been the subject of a number of analyst reports. Citigroup cut shares of Primerica from a “neutral” rating to a “sell” rating and increased their target price for the company from $100.00 to $108.00 in a research report on Tuesday, September 18th. Zacks Investment Research cut shares of Primerica from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 10th. ValuEngine raised shares of Primerica from a “hold” rating to a “buy” rating in a research report on Saturday, July 28th. SunTrust Banks upped their price target on shares of Primerica to $118.00 and gave the company a “hold” rating in a research note on Monday, July 30th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $112.00 price target on shares of Primerica in a research note on Thursday, July 19th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Primerica currently has a consensus rating of “Hold” and a consensus target price of $114.40.
NYSE:PRI opened at $113.47 on Monday. The firm has a market capitalization of $4.89 billion, a PE ratio of 20.56 and a beta of 1.16. Primerica, Inc. has a 1-year low of $87.80 and a 1-year high of $128.35.
Primerica (NYSE:PRI) last released its quarterly earnings data on Tuesday, August 7th. The financial services provider reported $1.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.81 by $0.12. The firm had revenue of $467.82 million for the quarter, compared to analyst estimates of $466.82 million. Primerica had a net margin of 21.55% and a return on equity of 21.07%. During the same quarter in the prior year, the business earned $1.36 earnings per share. Research analysts forecast that Primerica, Inc. will post 7.18 EPS for the current fiscal year.
In related news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $120.63, for a total transaction of $361,890.00. Following the sale, the chief executive officer now owns 68,287 shares in the company, valued at $8,237,460.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Gregory C. Pitts sold 2,449 shares of the firm’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $122.28, for a total transaction of $299,463.72. Following the sale, the vice president now owns 12,609 shares in the company, valued at approximately $1,541,828.52. The disclosure for this sale can be found here. Insiders sold 15,962 shares of company stock worth $1,937,964 in the last quarter. Company insiders own 0.89% of the company’s stock.
Primerica Company Profile
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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