Logan Capital Management Inc. lessened its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,865 shares of the financial services provider's stock after selling 1,109 shares during the quarter. Logan Capital Management Inc. owned 0.12% of Primerica worth $11,343,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of PRI. True Wealth Design LLC bought a new stake in shares of Primerica in the fourth quarter valued at about $27,000. Headlands Technologies LLC raised its stake in Primerica by 2,300.0% in the first quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 161 shares in the last quarter. Summit Securities Group LLC acquired a new position in Primerica in the first quarter valued at about $64,000. Golden State Wealth Management LLC raised its stake in Primerica by 105.7% in the first quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider's stock valued at $72,000 after purchasing an additional 130 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in Primerica by 26.9% in the first quarter. Parallel Advisors LLC now owns 307 shares of the financial services provider's stock valued at $87,000 after purchasing an additional 65 shares in the last quarter. Institutional investors own 90.88% of the company's stock.
Primerica Trading Down 0.0%
NYSE PRI traded down $0.12 during trading on Friday, hitting $274.28. 211,384 shares of the company's stock were exchanged, compared to its average volume of 166,202. The company has a market cap of $8.88 billion, a PE ratio of 13.55 and a beta of 1.00. Primerica, Inc. has a fifty-two week low of $230.98 and a fifty-two week high of $307.91. The stock's 50 day moving average price is $266.56 and its two-hundred day moving average price is $268.69.
Primerica (NYSE:PRI - Get Free Report) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $5.46 EPS for the quarter, topping the consensus estimate of $5.18 by $0.28. The firm had revenue of $796.02 million during the quarter, compared to the consensus estimate of $790.99 million. Primerica had a return on equity of 32.42% and a net margin of 21.48%.The business's quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.71 earnings per share. Analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.
Primerica Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 22nd will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $4.16 annualized dividend and a yield of 1.5%. Primerica's payout ratio is presently 20.55%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on PRI shares. Jefferies Financial Group dropped their price target on Primerica from $293.00 to $283.00 and set a "hold" rating for the company in a research note on Monday, August 11th. Keefe, Bruyette & Woods boosted their price target on Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research note on Monday, August 11th. Finally, Morgan Stanley boosted their price target on Primerica from $292.00 to $308.00 and gave the company an "equal weight" rating in a research note on Monday, August 18th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Primerica has an average rating of "Hold" and a consensus target price of $315.29.
Get Our Latest Stock Report on Primerica
Insider Buying and Selling
In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was 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 owned 36,392 shares of the company's stock, valued at approximately $9,541,982.40. The trade was a 6.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.61% of the company's stock.
About Primerica
(
Free Report)
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.
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