QS Investors LLC decreased its position in Primerica, Inc. (NYSE:PRI) by 0.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,205 shares of the financial services provider’s stock after selling 114 shares during the period. QS Investors LLC’s holdings in Primerica were worth $2,072,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. BOKF NA raised its holdings in shares of Primerica by 27.7% in the 4th quarter. BOKF NA now owns 9,215 shares of the financial services provider’s stock valued at $900,000 after purchasing an additional 1,999 shares during the period. Geode Capital Management LLC raised its holdings in shares of Primerica by 11.1% in the 4th quarter. Geode Capital Management LLC now owns 500,512 shares of the financial services provider’s stock valued at $48,905,000 after purchasing an additional 49,999 shares during the period. California State Teachers Retirement System raised its holdings in shares of Primerica by 2.4% in the 4th quarter. California State Teachers Retirement System now owns 67,603 shares of the financial services provider’s stock valued at $6,605,000 after purchasing an additional 1,602 shares during the period. Gideon Capital Advisors Inc. bought a new stake in shares of Primerica in the 4th quarter valued at about $658,000. Finally, Prudential PLC bought a new stake in shares of Primerica in the 4th quarter valued at about $263,000. 91.79% of the stock is owned by institutional investors.
In other news, Director John A. Jr. Addison sold 3,249 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $122.85, for a total transaction of $399,139.65. Following the transaction, the director now directly owns 20,359 shares of the company’s stock, valued at $2,501,103.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $118.93, for a total transaction of $356,790.00. Following the transaction, the chief executive officer now directly owns 59,287 shares in the company, valued at $7,051,002.91. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,249 shares of company stock worth $1,620,280. Insiders own 0.89% of the company’s stock.
Separately, Credit Suisse Group reaffirmed an “outperform” rating and issued a $148.00 target price (up from $135.00) on shares of Primerica in a report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Primerica has an average rating of “Hold” and an average target price of $120.00.
Primerica stock opened at $127.79 on Tuesday. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 17.43 and a beta of 1.42. Primerica, Inc. has a twelve month low of $90.05 and a twelve month high of $129.19.
Primerica (NYSE:PRI) last released its quarterly earnings results on Thursday, February 7th. The financial services provider reported $2.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.13. The firm had revenue of $487.33 million for the quarter, compared to analysts’ expectations of $486.75 million. Primerica had a net margin of 17.06% and a return on equity of 22.63%. The business’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.60 EPS. On average, equities research analysts anticipate that Primerica, Inc. will post 8.13 earnings per share for the current year.
Primerica declared that its Board of Directors has approved a stock buyback program on Thursday, February 7th that allows the company to buyback $275.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 5.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Wednesday, February 20th were issued a $0.34 dividend. This is a boost from Primerica’s previous quarterly dividend of $0.25. This represents a $1.36 annualized dividend and a yield of 1.06%. The ex-dividend date was Tuesday, February 19th. Primerica’s dividend payout ratio is currently 18.55%.
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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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