Thrivent Financial For Lutherans cut its position in shares of Primerica, Inc. (NYSE:PRI) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 252,795 shares of the financial services provider’s stock after selling 945 shares during the period. Thrivent Financial For Lutherans’ holdings in Primerica were worth $25,671,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Intrust Bank NA grew its position in Primerica by 18.4% in the fourth quarter. Intrust Bank NA now owns 3,840 shares of the financial services provider’s stock valued at $390,000 after acquiring an additional 597 shares during the period. Suntrust Banks Inc. grew its position in Primerica by 17.1% in the fourth quarter. Suntrust Banks Inc. now owns 4,574 shares of the financial services provider’s stock valued at $463,000 after acquiring an additional 667 shares during the period. BB&T Securities LLC grew its position in Primerica by 6.4% in the third quarter. BB&T Securities LLC now owns 11,812 shares of the financial services provider’s stock valued at $963,000 after acquiring an additional 709 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Primerica by 34.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,802 shares of the financial services provider’s stock valued at $285,000 after acquiring an additional 721 shares during the period. Finally, First Republic Investment Management Inc. grew its position in Primerica by 13.1% in the fourth quarter. First Republic Investment Management Inc. now owns 6,940 shares of the financial services provider’s stock valued at $704,000 after acquiring an additional 804 shares during the period. Institutional investors and hedge funds own 90.42% of the company’s stock.
Primerica, Inc. (PRI) opened at $102.55 on Friday. The company has a market capitalization of $4,382.42, a price-to-earnings ratio of 17.88, a price-to-earnings-growth ratio of 1.37 and a beta of 1.14. Primerica, Inc. has a one year low of $70.00 and a one year high of $108.05.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Thursday, February 15th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $1.00 dividend on an annualized basis and a yield of 0.98%. This is a positive change from Primerica’s previous quarterly dividend of $0.20. Primerica’s payout ratio is currently 13.07%.
Primerica declared that its board has approved a share repurchase program on Wednesday, February 7th that allows the company to repurchase $225.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
A number of analysts have weighed in on PRI shares. SunTrust Banks upped their price target on Primerica to $112.00 and gave the company a “hold” rating in a research report on Monday, January 22nd. ValuEngine upgraded Primerica from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Wells Fargo & Co reiterated a “market perform” rating and issued a $100.00 price target (up from $95.00) on shares of Primerica in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $95.00 price target on shares of Primerica in a research report on Friday, November 10th. Finally, Zacks Investment Research cut Primerica from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Primerica currently has an average rating of “Hold” and a consensus target price of $101.25.
In other Primerica news, President Peter W. Schneider sold 991 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $100.97, for a total value of $100,061.27. Following the transaction, the president now owns 25,881 shares of the company’s stock, valued at $2,613,204.57. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Alison S. Rand sold 2,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $100.95, for a total value of $201,900.00. Following the completion of the transaction, the chief financial officer now directly owns 31,385 shares in the company, valued at approximately $3,168,315.75. The disclosure for this sale can be found here. In the last three months, insiders sold 7,482 shares of company stock worth $745,983. Insiders own 0.86% of the company’s stock.
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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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