Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Primerica Inc. (NYSE:PRI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,570 shares of the company’s stock, valued at approximately $262,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Ruane Cunniff & Goldfarb Inc. raised its position in shares of Primerica by 31.2% in the second quarter. Ruane Cunniff & Goldfarb Inc. now owns 3,780,842 shares of the company’s stock worth $216,415,000 after buying an additional 898,291 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Primerica by 7.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,498,133 shares of the company’s stock worth $66,712,000 after buying an additional 109,071 shares during the period. RS Investment Management Co. LLC raised its stake in Primerica by 23.5% in the second quarter. RS Investment Management Co. LLC now owns 1,247,548 shares of the company’s stock worth $71,410,000 after buying an additional 237,260 shares during the period. Cantillon Capital Management LLC acquired a new stake in Primerica during the second quarter worth about $63,579,000. Finally, JPMorgan Chase & Co. raised its stake in Primerica by 85.4% in the first quarter. JPMorgan Chase & Co. now owns 590,793 shares of the company’s stock worth $26,308,000 after buying an additional 272,080 shares during the period.
Shares of Primerica Inc. (NYSE:PRI) traded up 0.59% during mid-day trading on Friday, hitting $53.00. The company’s stock had a trading volume of 295,226 shares. Primerica Inc. has a 1-year low of $37.09 and a 1-year high of $59.34. The company has a 50-day moving average of $56.13 and a 200 day moving average of $52.74. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 12.94 and a beta of 0.80.
Primerica (NYSE:PRI) last issued its quarterly earnings results on Monday, August 8th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.13. The company had revenue of $379.24 million for the quarter, compared to analyst estimates of $370.76 million. Primerica had a return on equity of 17.32% and a net margin of 13.90%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.93 earnings per share. On average, analysts expect that Primerica Inc. will post $4.41 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Wednesday, August 24th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.37%. This is a positive change from Primerica’s previous quarterly dividend of $0.17. The ex-dividend date was Monday, August 22nd. Primerica’s payout ratio is 17.56%.
A number of analysts have issued reports on the company. Wells Fargo & Co. assumed coverage on Primerica in a report on Thursday, September 22nd. They issued a “market perform” rating on the stock. Zacks Investment Research raised Primerica from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Friday, August 12th. Finally, Keefe, Bruyette & Woods lowered Primerica from an “outperform” rating to a “market perform” rating and raised their target price for the company from $58.00 to $60.00 in a report on Tuesday, July 12th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $61.50.
In other news, insider Jeffrey S. Fendler sold 1,000 shares of the business’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $56.02, for a total value of $56,020.00. Following the sale, the insider now directly owns 32,988 shares in the company, valued at $1,847,987.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider William A. Kelly sold 1,500 shares of the company’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $57.11, for a total value of $85,665.00. Following the sale, the insider now owns 23,630 shares in the company, valued at approximately $1,349,509.30. The disclosure for this sale can be found here. 1.24% of the stock is owned by insiders.
Primerica Inc (Primerica) distributes financial products to middle-income households. The Company operates through three segments. 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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