Harbor Capital Advisors Inc. Has $5.69 Million Stock Position in Primerica, Inc. $PRI

Key Points

• Harbor Capital Advisors Inc. increased its position in Primerica, Inc. by 28.0% in the 2nd quarter, owning 20,788 shares valued at approximately $5.69 million.
• Primerica reported $5.46 earnings per share (EPS) for the last quarter, surpassing estimates by $0.28, with a revenue of $796.02 million, up just 0.3% year-over-year.
• The company declared a quarterly dividend of $1.04 on September 15th, representing an annualized dividend yield of 1.6%.

Harbor Capital Advisors Inc. boosted its position in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 28.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,788 shares of the financial services provider's stock after purchasing an additional 4,546 shares during the period. Harbor Capital Advisors Inc. owned about 0.06% of Primerica worth $5,689,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Headlands Technologies LLC grew its stake in shares of Primerica by 2,300.0% during the 1st quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider's stock worth $48,000 after purchasing an additional 161 shares during the period. Summit Securities Group LLC acquired a new stake in Primerica in the first quarter valued at $64,000. Golden State Wealth Management LLC grew its holdings in shares of Primerica by 105.7% during the first quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider's stock worth $72,000 after purchasing an additional 130 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Primerica by 205.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider's stock valued at $75,000 after acquiring an additional 177 shares during the period. Finally, Parallel Advisors LLC raised its position in Primerica by 26.9% in the first quarter. Parallel Advisors LLC now owns 307 shares of the financial services provider's stock worth $87,000 after acquiring an additional 65 shares in the last quarter. Institutional investors own 90.88% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of Primerica from $292.00 to $308.00 and gave the stock an "equal weight" rating in a research report on Monday, August 18th. Jefferies Financial Group dropped their price objective on shares of Primerica from $293.00 to $283.00 and set a "hold" rating on the stock in a report on Monday, August 11th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research note on Monday, August 11th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Primerica presently has a consensus rating of "Hold" and a consensus target price of $315.29.

Insiders Place Their Bets

In other news, CEO Glenn J. Williams sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total transaction of $655,500.00. Following the completion of the transaction, the chief executive officer directly owned 36,392 shares of the company's stock, valued at $9,541,982.40. This trade represents a 6.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.61% of the stock is owned by insiders.

Primerica Stock Up 0.9%

Shares of Primerica stock traded up $2.32 during trading on Friday, reaching $274.92. The company's stock had a trading volume of 568,163 shares, compared to its average volume of 171,087. The company has a 50-day simple moving average of $266.76 and a two-hundred day simple moving average of $268.28. The company has a market cap of $8.90 billion, a price-to-earnings ratio of 13.58 and a beta of 1.00. Primerica, Inc. has a 1-year low of $230.98 and a 1-year high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.18 by $0.28. The company had revenue of $796.02 million during the quarter, compared to the consensus estimate of $790.99 million. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The firm's quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $4.71 earnings per share. As a group, analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 22nd were given a $1.04 dividend. The ex-dividend date was Friday, August 22nd. This represents a $4.16 dividend on an annualized basis and a yield of 1.5%. Primerica's dividend payout ratio (DPR) is presently 20.55%.

Primerica Profile

Primerica, Inc, together with its subsidiaries, provides financial products and services 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.