Los Angeles Capital Management & Equity Research Inc. cut its holdings in Primerica, Inc. (NYSE:PRI) by 53.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,570 shares of the financial services provider’s stock after selling 5,350 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Primerica were worth $373,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in shares of Primerica by 1.2% in the second quarter. JPMorgan Chase & Co. now owns 502,000 shares of the financial services provider’s stock worth $38,026,000 after acquiring an additional 5,981 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Primerica by 0.3% in the second quarter. Vanguard Group Inc. now owns 5,085,927 shares of the financial services provider’s stock worth $385,260,000 after acquiring an additional 13,941 shares during the last quarter. BB&T Securities LLC boosted its stake in shares of Primerica by 27.3% in the second quarter. BB&T Securities LLC now owns 11,103 shares of the financial services provider’s stock worth $841,000 after acquiring an additional 2,379 shares during the last quarter. State Street Corp boosted its stake in shares of Primerica by 1.3% in the second quarter. State Street Corp now owns 1,780,565 shares of the financial services provider’s stock worth $134,879,000 after acquiring an additional 22,430 shares during the last quarter. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Primerica in the second quarter worth approximately $3,313,000. Institutional investors and hedge funds own 95.92% of the company’s stock.
PRI has been the topic of a number of research analyst reports. Zacks Investment Research raised Primerica from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a research note on Wednesday, October 11th. SunTrust Banks lowered Primerica from a “buy” rating to a “hold” rating in a research note on Thursday, October 19th. They noted that the move was a valuation call. BidaskClub lowered Primerica from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $87.00 price target on shares of Primerica in a research note on Monday, October 16th. Finally, Wells Fargo & Company reissued a “hold” rating on shares of Primerica in a research note on Tuesday, August 8th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $90.50.
Primerica, Inc. (NYSE:PRI) traded down $0.55 during midday trading on Friday, reaching $103.45. The company’s stock had a trading volume of 241,446 shares, compared to its average volume of 292,914. The firm has a market capitalization of $4,577.46, a price-to-earnings ratio of 20.21, a P/E/G ratio of 1.93 and a beta of 1.23. Primerica, Inc. has a one year low of $68.60 and a one year high of $106.40.
Primerica (NYSE:PRI) last released its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $1.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.09. The company had revenue of $427.30 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 earnings per share. research analysts forecast that Primerica, Inc. will post 5.36 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Thursday, November 16th. Primerica’s dividend payout ratio (DPR) is currently 15.56%.
In other Primerica news, VP Gregory C. Pitts sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $92.40, for a total transaction of $462,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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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