Crossmark Global Holdings Inc. Acquires New Holdings in Primerica, Inc. (PRI)
Crossmark Global Holdings Inc. acquired a new position in shares of Primerica, Inc. (NYSE:PRI) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,233 shares of the financial services provider’s stock, valued at approximately $508,000.
Other large investors have also recently made changes to their positions in the company. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Primerica during the second quarter worth $125,000. Zurcher Kantonalbank Zurich Cantonalbank raised 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 worth $158,000 after acquiring an additional 242 shares in the last quarter. Flinton Capital Management LLC raised 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 worth $169,000 after acquiring an additional 912 shares in the last quarter. Riverhead Capital Management LLC raised 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 worth $192,000 after acquiring an additional 1,030 shares in the last quarter. Finally, World Asset Management Inc raised 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 worth $216,000 after acquiring an additional 18 shares in the last quarter. Institutional investors and hedge funds own 94.71% of the company’s stock.
Several analysts recently issued reports on PRI shares. BidaskClub upgraded Primerica from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Wells Fargo & Company reiterated a “hold” rating on shares of Primerica in a report on Tuesday, August 8th. Zacks Investment Research lowered Primerica from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $87.00 price objective on shares of Primerica in a report on Monday, October 16th. Finally, SunTrust Banks, Inc. lowered Primerica from a “buy” rating to a “hold” rating in a report on Thursday, October 19th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $90.50.
Primerica, Inc. (PRI) opened at $97.95 on Monday. Primerica, Inc. has a 1-year low of $68.60 and a 1-year high of $100.65. The firm has a market capitalization of $4,334.10, a PE ratio of 19.13, a price-to-earnings-growth ratio of 1.83 and a beta of 1.18.
Primerica (NYSE:PRI) last posted its earnings results on Tuesday, November 7th. The financial services provider reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ 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 analyst estimates of $425.83 million. During the same period last year, the company earned $1.22 earnings per share. The business’s revenue was up 11.4% compared to the same quarter last year. equities analysts forecast that Primerica, Inc. will post 5.36 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $0.80 annualized dividend and a yield of 0.82%. Primerica’s dividend payout ratio (DPR) is currently 15.56%.
In other Primerica news, President Peter W. Schneider sold 1,301 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $76.92, for a total transaction of $100,072.92. Following the transaction, the president now directly owns 28,138 shares in the company, valued at $2,164,374.96. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Gregory C. Pitts sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $92.40, for a total value of $462,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,301 shares of company stock worth $715,073. Corporate insiders own 0.86% of the company’s stock.
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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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