Penn Capital Management Company LLC grew its holdings in shares of Primerica, Inc. (NYSE:PRI – Get Rating) by 4.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,185 shares of the financial services provider’s stock after purchasing an additional 780 shares during the period. Penn Capital Management Company LLC’s holdings in Primerica were worth $2,056,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Covestor Ltd boosted its stake in Primerica by 74.7% during the first quarter. Covestor Ltd now owns 255 shares of the financial services provider’s stock valued at $35,000 after buying an additional 109 shares in the last quarter. Castle Wealth Management LLC bought a new position in Primerica during the second quarter valued at about $38,000. Venture Visionary Partners LLC bought a new position in Primerica during the second quarter valued at about $45,000. Quantbot Technologies LP bought a new position in Primerica during the second quarter valued at about $69,000. Finally, HM Payson & Co. bought a new position in Primerica during the first quarter valued at about $72,000. Institutional investors own 91.10% of the company’s stock.
Insiders Place Their Bets
In other Primerica news, CFO Alison S. Rand sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 30th. The stock was sold at an average price of $145.47, for a total transaction of $218,205.00. Following the completion of the sale, the chief financial officer now directly owns 10,933 shares in the company, valued at approximately $1,590,423.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Alison S. Rand sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 30th. The stock was sold at an average price of $145.47, for a total transaction of $218,205.00. Following the completion of the sale, the chief financial officer now directly owns 10,933 shares of the company’s stock, valued at approximately $1,590,423.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Peter W. Schneider sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $145.19, for a total value of $508,165.00. Following the sale, the president now directly owns 15,752 shares of the company’s stock, valued at $2,287,032.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,000 shares of company stock worth $1,295,890. 0.85% of the stock is currently owned by company insiders.
Primerica Stock Up 0.4 %
Primerica (NYSE:PRI – Get Rating) last announced its quarterly earnings data on Tuesday, November 8th. The financial services provider reported $3.02 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.08. Primerica had a return on equity of 22.96% and a net margin of 10.01%. The firm had revenue of $673.29 million during the quarter, compared to analyst estimates of $675.99 million. During the same period last year, the company posted $2.98 EPS. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities analysts predict that Primerica, Inc. will post 10.98 earnings per share for the current year.
Primerica announced that its board has authorized a share buyback program on Thursday, August 11th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the financial services provider to repurchase up to 1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Primerica Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Tuesday, November 22nd will be given a dividend of $0.55 per share. The ex-dividend date is Monday, November 21st. This represents a $2.20 dividend on an annualized basis and a yield of 1.55%. Primerica’s payout ratio is presently 31.03%.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on PRI shares. William Blair cut Primerica from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 10th. Morgan Stanley increased their price target on Primerica from $135.00 to $137.00 and gave the company an “equal weight” rating in a research report on Thursday, November 17th. Finally, StockNews.com assumed coverage on Primerica in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $161.40.
Primerica, Inc, together with its subsidiaries, provides financial products to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products. The Term Life Insurance segment underwrites individual term life insurance products.
- Get a free copy of the StockNews.com research report on Primerica (PRI)
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