Mutual of America Capital Management LLC Trims Holdings in Primerica, Inc. (PRI)
Mutual of America Capital Management LLC trimmed its position in shares of Primerica, Inc. (NYSE:PRI) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,423 shares of the financial services provider’s stock after selling 660 shares during the period. Mutual of America Capital Management LLC’s holdings in Primerica were worth $3,699,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in PRI. Mountain Capital Investment Advisors Inc bought a new position in Primerica during the second quarter valued at $125,000. Flinton Capital Management LLC grew its holdings in 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 purchasing an additional 912 shares during the period. Magnetar Financial LLC bought a new position in Primerica during the third quarter valued at $204,000. Jane Street Group LLC bought a new position in Primerica during the third quarter valued at $215,000. Finally, Koch Industries Inc. bought a new position in Primerica during the second quarter valued at $237,000. 96.27% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on PRI shares. SunTrust Banks raised their price target on Primerica to $112.00 and gave the stock a “hold” rating in a report on Monday, January 22nd. ValuEngine raised Primerica from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $100.00 price target (up from $95.00) on shares of Primerica in a report on Tuesday, January 9th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $95.00 price target on shares of Primerica in a report on Friday, November 10th. Finally, Zacks Investment Research lowered Primerica from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $101.25.
Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $1.60 EPS for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.17. Primerica had a return on equity of 20.06% and a net margin of 20.74%. The firm had revenue of $442.94 million during the quarter, compared to analyst estimates of $435.87 million. During the same period last year, the company earned $1.19 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. equities analysts predict that Primerica, Inc. will post 6.88 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Thursday, February 15th will be issued a $0.25 dividend. This is a positive change from Primerica’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Wednesday, February 14th. Primerica’s dividend payout ratio (DPR) is presently 10.46%.
Primerica announced that its board has initiated a stock buyback plan on Wednesday, February 7th that allows the company to buyback $225.00 million in shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
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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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