Bayesian Capital Management LP Buys Shares of 13,471 Primerica, Inc. (PRI)
Bayesian Capital Management LP bought a new stake in shares of Primerica, Inc. (NYSE:PRI) during the fourth quarter, Holdings Channel reports. The fund bought 13,471 shares of the company’s stock, valued at approximately $932,000.
A number of other hedge funds have also bought and sold shares of PRI. O Shaughnessy Asset Management LLC raised its position in shares of Primerica by 1.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,582 shares of the company’s stock worth $109,000 after buying an additional 16 shares during the last quarter. LS Investment Advisors LLC raised its position in shares of Primerica by 5.6% in the third quarter. LS Investment Advisors LLC now owns 3,014 shares of the company’s stock worth $160,000 after buying an additional 161 shares during the last quarter. Creative Planning raised its position in shares of Primerica by 289.8% in the third quarter. Creative Planning now owns 3,294 shares of the company’s stock worth $175,000 after buying an additional 2,449 shares during the last quarter. Calvert Investment Management Inc. purchased a new position in shares of Primerica during the second quarter worth about $200,000. Finally, ELCO Management Co. LLC purchased a new position in shares of Primerica during the third quarter worth about $212,000.
Shares of Primerica, Inc. (NYSE:PRI) traded up 0.06% during trading on Thursday, reaching $80.50. The company’s stock had a trading volume of 268,648 shares. The company has a market capitalization of $3.68 billion, a P/E ratio of 17.56 and a beta of 1.15. Primerica, Inc. has a 12 month low of $40.64 and a 12 month high of $81.69. The company’s 50-day moving average is $74.32 and its 200-day moving average is $63.46.
Primerica (NYSE:PRI) last posted its earnings results on Wednesday, February 8th. The company reported $1.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.19. Primerica had a net margin of 14.44% and a return on equity of 17.98%. The company earned $393.90 million during the quarter, compared to analysts’ expectations of $386.46 million. During the same quarter in the previous year, the company posted $1.01 earnings per share. Primerica’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, analysts forecast that Primerica, Inc. will post $5.18 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 17th. Stockholders of record on Monday, February 20th will be paid a $0.19 dividend. The ex-dividend date is Wednesday, February 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.94%. This is a boost from Primerica’s previous quarterly dividend of $0.18. Primerica’s payout ratio is 15.72%.
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A number of equities analysts have issued reports on the company. SunTrust Banks, Inc. set a $95.00 price target on Primerica and gave the company a “buy” rating in a research note on Saturday, February 11th. Zacks Investment Research raised Primerica from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research note on Saturday, November 12th. Finally, Citigroup Inc. assumed coverage on Primerica in a research note on Thursday, January 26th. They set a “neutral” rating and a $76.00 price target for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $78.00.
In other news, Director P George Benson sold 500 shares of Primerica stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $81.55, for a total value of $40,775.00. Following the completion of the transaction, the director now owns 14,045 shares in the company, valued at $1,145,369.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William A. Kelly sold 1,500 shares of Primerica stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $71.49, for a total transaction of $107,235.00. Following the completion of the transaction, the insider now owns 20,630 shares of the company’s stock, valued at approximately $1,474,838.70. The disclosure for this sale can be found here. Insiders sold 6,500 shares of company stock valued at $468,560 in the last quarter. 1.24% of the stock is currently owned by corporate insiders.
Primerica Company Profile
Primerica Inc (Primerica) distributes financial products to middle-income households. The Company operates through three segments. 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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