Nationwide Fund Advisors lowered its position in shares of Primerica, Inc. (NYSE:PRI) by 4.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,808 shares of the financial services provider’s stock after selling 5,125 shares during the quarter. Nationwide Fund Advisors owned approximately 0.26% of Primerica worth $9,444,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. APG Asset Management N.V. acquired a new position in shares of Primerica during the third quarter valued at approximately $2,585,000. Oakbrook Investments LLC acquired a new position in shares of Primerica during the third quarter valued at approximately $245,000. Shell Asset Management Co. raised its holdings in shares of Primerica by 188.5% during the third quarter. Shell Asset Management Co. now owns 55,222 shares of the financial services provider’s stock valued at $2,663,000 after acquiring an additional 36,080 shares during the last quarter. Phocas Financial Corp. raised its holdings in shares of Primerica by 4.7% during the second quarter. Phocas Financial Corp. now owns 92,696 shares of the financial services provider’s stock valued at $7,022,000 after acquiring an additional 4,138 shares during the last quarter. Finally, Mountain Capital Investment Advisors Inc acquired a new position in shares of Primerica during the second quarter valued at approximately $125,000. 95.91% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have commented on PRI shares. Zacks Investment Research cut Primerica from a “hold” rating to a “sell” rating in a report on Friday, August 11th. BidaskClub cut Primerica from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $87.00 target price on shares of Primerica in a report on Monday, October 16th. Finally, SunTrust Banks cut Primerica from a “buy” rating to a “hold” rating in a report on Thursday, October 19th. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $90.50.
Primerica, Inc. (NYSE PRI) traded down $1.50 during trading hours on Thursday, hitting $102.25. The company had a trading volume of 338,700 shares, compared to its average volume of 304,657. Primerica, Inc. has a 12-month low of $68.60 and a 12-month high of $106.40. The firm has a market capitalization of $4,590.74, a PE ratio of 20.26, a PEG ratio of 1.94 and a beta of 1.24.
Primerica (NYSE:PRI) last posted its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $1.46 EPS for the quarter, beating the consensus estimate of $1.37 by $0.09. Primerica had a return on equity of 18.94% and a net margin of 14.55%. The firm had revenue of $427.30 million during the quarter, compared to analysts’ expectations of $425.83 million. During the same quarter last year, the firm earned $1.22 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. research analysts anticipate that Primerica, Inc. will post 5.36 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be issued a $0.20 dividend. The ex-dividend date is Thursday, November 16th. This represents a $0.80 annualized dividend and a dividend yield of 0.78%. Primerica’s dividend payout ratio is presently 15.56%.
Primerica Company Profile
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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