Burgundy Asset Management Ltd. Grows Position in Primerica, Inc. (PRI)
Burgundy Asset Management Ltd. increased its position in shares of Primerica, Inc. (NYSE:PRI) by 2.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,681,212 shares of the financial services provider’s stock after buying an additional 43,558 shares during the quarter. Burgundy Asset Management Ltd. owned about 3.80% of Primerica worth $137,103,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the stock. World Asset Management Inc grew its stake in Primerica by 0.6% during the 2nd quarter. World Asset Management Inc now owns 2,856 shares of the financial services provider’s stock worth $216,000 after buying an additional 18 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of Primerica by 1.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,669 shares of the financial services provider’s stock valued at $278,000 after purchasing an additional 69 shares during the last quarter. Balyasny Asset Management LLC grew its stake in shares of Primerica by 0.8% in the 2nd quarter. Balyasny Asset Management LLC now owns 12,712 shares of the financial services provider’s stock valued at $963,000 after purchasing an additional 100 shares during the last quarter. Amalgamated Bank grew its stake in shares of Primerica by 1.8% in the 2nd quarter. Amalgamated Bank now owns 6,552 shares of the financial services provider’s stock valued at $496,000 after purchasing an additional 113 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Primerica by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 19,200 shares of the financial services provider’s stock valued at $1,454,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.
Shares of Primerica, Inc. (NYSE:PRI) traded down $2.15 during mid-day trading on Friday, hitting $101.65. The company’s stock had a trading volume of 179,900 shares, compared to its average volume of 301,544. Primerica, Inc. has a one year low of $68.60 and a one year high of $106.40. The stock has a market cap of $4,592.95, a P/E ratio of 20.27, a P/E/G ratio of 1.94 and a beta of 1.24.
Primerica (NYSE:PRI) last announced its earnings results on Tuesday, November 7th. The financial services provider reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.09. Primerica had a return on equity of 18.94% and a net margin of 14.55%. The company had revenue of $427.30 million for the quarter, compared to the consensus estimate of $425.83 million. During the same period last year, the business posted $1.22 EPS. The company’s revenue was up 11.4% on a year-over-year basis. research analysts expect that Primerica, Inc. will post 5.36 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be paid a $0.20 dividend. The ex-dividend date is Thursday, November 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.79%. Primerica’s dividend payout ratio (DPR) is presently 15.56%.
In related news, VP Gregory C. Pitts sold 5,000 shares of Primerica stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $92.40, for a total value of $462,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.86% of the stock is owned by insiders.
Several research analysts have weighed in on PRI shares. SunTrust Banks downgraded Primerica from a “buy” rating to a “hold” rating in a research note on Thursday, October 19th. They noted that the move was a valuation call. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $95.00 target price on shares of Primerica in a research note on Friday, November 10th. BidaskClub downgraded Primerica from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 18th. Finally, Zacks Investment Research upgraded Primerica from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research note on Wednesday, October 11th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $90.50.
ILLEGAL ACTIVITY NOTICE: “Burgundy Asset Management Ltd. Grows Position in Primerica, Inc. (PRI)” was first reported by Watch List News and is the property of of Watch List News. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of United States and international copyright and trademark legislation. The correct version of this piece of content can be accessed at https://www.watchlistnews.com/burgundy-asset-management-ltd-grows-position-in-primerica-inc-pri/1765851.html.
Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. 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.
Receive News & Ratings for Primerica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primerica and related companies with Analyst Ratings Network's FREE daily email newsletter.