Fmr LLC Increases Stake in Primerica, Inc. (PRI)
Fmr LLC increased its stake in Primerica, Inc. (NYSE:PRI) by 10.7% during the first quarter, Holdings Channel reports. The fund owned 1,752,471 shares of the financial services provider’s stock after buying an additional 169,689 shares during the period. Fmr LLC’s holdings in Primerica were worth $144,053,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in PRI. AQR Capital Management LLC increased its stake in shares of Primerica by 13.2% in the fourth quarter. AQR Capital Management LLC now owns 220,354 shares of the financial services provider’s stock valued at $15,237,000 after buying an additional 25,628 shares during the last quarter. Guggenheim Capital LLC increased its stake in shares of Primerica by 1,810.9% in the fourth quarter. Guggenheim Capital LLC now owns 127,209 shares of the financial services provider’s stock valued at $8,796,000 after buying an additional 120,552 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of Primerica during the fourth quarter valued at about $221,000. Two Sigma Investments LP bought a new stake in shares of Primerica during the fourth quarter valued at about $589,000. Finally, A.R.T. Advisors LLC increased its stake in shares of Primerica by 166.7% in the fourth quarter. A.R.T. Advisors LLC now owns 16,800 shares of the financial services provider’s stock valued at $1,161,000 after buying an additional 10,500 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.
Shares of Primerica, Inc. (NYSE:PRI) opened at 74.65 on Friday. The stock has a 50 day moving average of $76.58 and a 200 day moving average of $77.27. The firm has a market cap of $3.40 billion, a P/E ratio of 15.60 and a beta of 1.17. Primerica, Inc. has a 52 week low of $49.69 and a 52 week high of $86.45.
Primerica (NYSE:PRI) last issued its quarterly earnings data on Tuesday, May 9th. The financial services provider reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by $0.04. Primerica had a net margin of 14.49% and a return on equity of 18.22%. The firm had revenue of $405.20 million during the quarter, compared to analyst estimates of $401.58 million. During the same period in the prior year, the company earned $0.93 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities analysts forecast that Primerica, Inc. will post $5.23 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Friday, May 19th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date was Wednesday, May 17th. Primerica’s dividend payout ratio is 15.93%.
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Several equities research analysts have recently issued reports on the stock. William Blair downgraded shares of Primerica from an “outperform” rating to a “market perform” rating in a research note on Friday, April 21st. They noted that the move was a valuation call. Wells Fargo & Company downgraded shares of Primerica from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 20th. Keefe, Bruyette & Woods set a $78.00 price objective on shares of Primerica and gave the stock a “hold” rating in a research note on Friday, March 17th. Finally, Zacks Investment Research downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, May 12th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $83.25.
In other Primerica news, insider William A. Kelly sold 2,500 shares of the company’s stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $82.29, for a total value of $205,725.00. Following the transaction, the insider now directly owns 20,486 shares of the company’s stock, valued at approximately $1,685,792.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Alison S. Rand sold 2,000 shares of the company’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $71.55, for a total value of $143,100.00. Following the completion of the transaction, the vice president now directly owns 37,385 shares in the company, valued at $2,674,896.75. The disclosure for this sale can be found here. Corporate insiders own 1.24% of the company’s stock.
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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