Virginia Retirement Systems ET AL Has $1.25 Million Holdings in Primerica, Inc. (PRI)
Virginia Retirement Systems ET AL cut its holdings in Primerica, Inc. (NYSE:PRI) by 18.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,300 shares of the financial services provider’s stock after selling 3,500 shares during the period. Virginia Retirement Systems ET AL’s holdings in Primerica were worth $1,248,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Primerica during the second quarter worth about $125,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 purchasing an additional 242 shares in the last quarter. Flinton Capital Management LLC increased its position 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 purchasing an additional 912 shares in the last quarter. Riverhead Capital Management LLC increased its position 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 purchasing an additional 1,030 shares in the last quarter. Finally, World Asset Management Inc increased its position 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 purchasing an additional 18 shares in the last quarter. Institutional investors own 95.91% of the company’s stock.
A number of analysts have recently commented on the company. BidaskClub cut Primerica from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 18th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $95.00 target price on shares of Primerica in a research report on Friday, November 10th. Zacks Investment Research cut Primerica from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Finally, SunTrust Banks cut Primerica from a “buy” rating to a “hold” rating in a research report on Thursday, October 19th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $90.50.
In related news, VP Gregory C. Pitts sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $92.40, for a total value of $462,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.86% of the company’s stock.
Shares of Primerica, Inc. (PRI) traded down $1.50 during mid-day trading on Thursday, reaching $102.25. The company had a trading volume of 338,700 shares, compared to its average volume of 304,657. The firm has a market cap of $4,590.74, a PE ratio of 20.26, a PEG ratio of 1.94 and a beta of 1.24. Primerica, Inc. has a 1 year low of $68.60 and a 1 year high of $106.40.
Primerica (NYSE:PRI) last issued its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.09. The firm had revenue of $427.30 million for the quarter, compared to analysts’ expectations of $425.83 million. Primerica had a return on equity of 18.94% and a net margin of 14.55%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.22 EPS. equities research analysts forecast that Primerica, Inc. will post 5.36 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Thursday, November 16th. Primerica’s dividend payout ratio (DPR) is presently 15.56%.
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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