Kavar Capital Partners LLC purchased a new stake in Primerica, Inc. (NYSE:PRI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 458 shares of the financial services provider’s stock, valued at approximately $55,000.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Advisory Services Network LLC increased its stake in shares of Primerica by 74.5% in the 2nd quarter. Advisory Services Network LLC now owns 459 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 196 shares in the last quarter. Advisor Group Inc. increased its stake in shares of Primerica by 9.8% in the 2nd quarter. Advisor Group Inc. now owns 3,026 shares of the financial services provider’s stock valued at $363,000 after acquiring an additional 271 shares in the last quarter. Royal London Asset Management Ltd. increased its stake in shares of Primerica by 10.5% in the 2nd quarter. Royal London Asset Management Ltd. now owns 137,607 shares of the financial services provider’s stock valued at $16,540,000 after acquiring an additional 13,027 shares in the last quarter. Dupont Capital Management Corp increased its stake in shares of Primerica by 5.0% in the 2nd quarter. Dupont Capital Management Corp now owns 35,262 shares of the financial services provider’s stock valued at $4,230,000 after acquiring an additional 1,675 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Primerica by 96.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 17,818 shares of the financial services provider’s stock valued at $2,137,000 after acquiring an additional 8,761 shares in the last quarter. Institutional investors own 91.54% of the company’s stock.
Several analysts have recently weighed in on PRI shares. Zacks Investment Research upgraded shares of Primerica from a “hold” rating to a “buy” rating and set a $128.00 price objective for the company in a research note on Tuesday. Citigroup set a $108.00 price objective on shares of Primerica and gave the company a “sell” rating in a research note on Thursday, May 23rd.
PRI stock traded up $4.00 during midday trading on Friday, reaching $115.57. 357,400 shares of the company’s stock traded hands, compared to its average volume of 231,590. The company has a market cap of $4.59 billion, a price-to-earnings ratio of 15.77 and a beta of 1.39. The firm’s fifty day moving average price is $120.40 and its 200-day moving average price is $122.01. The company has a quick ratio of 0.57, a current ratio of 0.55 and a debt-to-equity ratio of 0.04. Primerica, Inc. has a 52 week low of $90.28 and a 52 week high of $132.17.
Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $2.21 EPS for the quarter, beating the Zacks’ consensus estimate of $2.14 by $0.07. The business had revenue of $504.90 million during the quarter, compared to analyst estimates of $503.84 million. Primerica had a net margin of 17.66% and a return on equity of 22.77%. Primerica’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.93 EPS. Analysts forecast that Primerica, Inc. will post 8.2 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.36 dividend on an annualized basis and a yield of 1.18%. Primerica’s dividend payout ratio (DPR) is presently 18.55%.
In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $110.83, for a total transaction of $332,490.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alison S. Rand sold 2,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $119.69, for a total transaction of $239,380.00. Following the sale, the chief financial officer now owns 19,337 shares of the company’s stock, valued at approximately $2,314,445.53. The disclosure for this sale can be found here. Insiders have sold a total of 7,000 shares of company stock valued at $801,910 in the last 90 days. 0.84% of the stock is currently owned by company insiders.
Primerica Company Profile
Primerica, Inc, together with its subsidiaries, provides 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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