Crossmark Global Holdings Inc. increased its holdings in shares of Primerica, Inc. (NYSE:PRI) by 15.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,563 shares of the financial services provider’s stock after acquiring an additional 890 shares during the period. Crossmark Global Holdings Inc.’s holdings in Primerica were worth $641,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. James Investment Research Inc. acquired a new position in Primerica during the third quarter worth $2,188,000. Ontario Teachers Pension Plan Board acquired a new position in Primerica during the third quarter worth $3,596,000. Wells Fargo & Company MN grew its holdings in Primerica by 0.3% during the third quarter. Wells Fargo & Company MN now owns 835,985 shares of the financial services provider’s stock worth $100,778,000 after acquiring an additional 2,191 shares during the period. MetLife Investment Advisors LLC grew its holdings in Primerica by 17.4% during the third quarter. MetLife Investment Advisors LLC now owns 55,771 shares of the financial services provider’s stock worth $6,723,000 after acquiring an additional 8,246 shares during the period. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in Primerica by 61.6% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 172,305 shares of the financial services provider’s stock worth $20,771,000 after acquiring an additional 65,694 shares during the period. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Primerica stock opened at $117.92 on Thursday. The firm has a market capitalization of $5.07 billion, a price-to-earnings ratio of 16.09 and a beta of 1.39. Primerica, Inc. has a fifty-two week low of $90.05 and a fifty-two week high of $128.35.

Primerica (NYSE:PRI) last posted its earnings results on Thursday, February 7th. The financial services provider reported $2.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.13. The company had revenue of $487.33 million for the quarter, compared to analyst estimates of $486.75 million. Primerica had a return on equity of 22.63% and a net margin of 17.06%. Primerica’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.60 earnings per share. Equities research analysts forecast that Primerica, Inc. will post 8.08 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Wednesday, February 20th will be issued a $0.34 dividend. This is a positive change from Primerica’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, February 19th. This represents a $1.36 annualized dividend and a yield of 1.15%. Primerica’s dividend payout ratio is 13.64%.

Primerica announced that its board has authorized a stock buyback plan on Thursday, February 7th that permits the company to repurchase $275.00 million in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 5.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

A number of research analysts recently weighed in on PRI shares. Zacks Investment Research raised Primerica from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a report on Wednesday, November 14th. Credit Suisse Group began coverage on Primerica in a report on Friday, January 18th. They issued an “outperform” rating and a $135.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $117.83.

In other Primerica news, CFO Alison S. Rand sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $113.03, for a total value of $226,060.00. Following the sale, the chief financial officer now owns 20,861 shares of the company’s stock, valued at $2,357,918.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.89% of the stock is currently owned by corporate insiders.

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About Primerica

Primerica, Inc, together with its subsidiaries, distributes financial products to middle income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.

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Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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