Colony Group LLC Acquires New Holdings in Primerica, Inc. (PRI)
Colony Group LLC acquired a new stake in shares of Primerica, Inc. (NYSE:PRI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,934 shares of the financial services provider’s stock, valued at approximately $298,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Primerica by 13.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,081 shares of the financial services provider’s stock valued at $158,000 after buying an additional 242 shares during the last quarter. Flinton Capital Management LLC grew its holdings in shares of Primerica by 69.5% during the second quarter. Flinton Capital Management LLC now owns 2,224 shares of the financial services provider’s stock valued at $169,000 after buying an additional 912 shares during the last quarter. Riverhead Capital Management LLC grew its holdings in shares of Primerica by 68.7% during the second quarter. Riverhead Capital Management LLC now owns 2,530 shares of the financial services provider’s stock valued at $192,000 after buying an additional 1,030 shares during the last quarter. Independent Portfolio Consultants Inc. purchased a new stake in shares of Primerica during the second quarter valued at $211,000. Finally, World Asset Management Inc grew its holdings in shares of Primerica by 0.6% during the second quarter. World Asset Management Inc now owns 2,856 shares of the financial services provider’s stock valued at $216,000 after buying an additional 18 shares during the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.
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Primerica, Inc. (PRI) traded down 0.39% during midday trading on Tuesday, reaching $88.90. 42,339 shares of the company’s stock traded hands. The company has a market capitalization of $3.99 billion, a PE ratio of 18.11 and a beta of 1.17. Primerica, Inc. has a 1-year low of $52.75 and a 1-year high of $89.60. The firm’s 50 day moving average price is $79.09 and its 200-day moving average price is $78.81.
Primerica (NYSE:PRI) last posted its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.01. The company had revenue of $413.70 million for the quarter, compared to analyst estimates of $410.97 million. Primerica had a net margin of 14.41% and a return on equity of 18.48%. Primerica’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.23 earnings per share. Equities analysts expect that Primerica, Inc. will post $5.22 EPS for the current year.
In other Primerica news, VP Alison S. Rand sold 2,000 shares of Primerica stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $76.50, for a total value of $153,000.00. Following the transaction, the vice president now directly owns 35,385 shares in the company, valued at $2,706,952.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $80.68, for a total transaction of $242,040.00. Following the completion of the transaction, the chief executive officer now owns 77,895 shares in the company, valued at $6,284,568.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,301 shares of company stock worth $495,113. 0.86% of the stock is currently owned by company insiders.
PRI has been the topic of a number of research analyst reports. BidaskClub lowered shares of Primerica from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. Zacks Investment Research lowered shares of Primerica from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $83.00 price target on shares of Primerica in a report on Friday, June 23rd. Finally, Wells Fargo & Company reaffirmed a “hold” rating on shares of Primerica in a report on Tuesday, August 8th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $88.50.
Primerica Company Profile
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.
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