Primerica Inc. (PRI) Sets New 52-Week High at $59.00
Primerica Inc. (NYSE:PRI) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $59.00 and last traded at $58.02, with a volume of 279,477 shares changing hands. The stock had previously closed at $57.85.
Separately, Zacks Investment Research lowered shares of Primerica from a “hold” rating to a “sell” rating in a research note on Wednesday, April 20th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $52.25.
The stock has a market capitalization of $2.73 billion and a PE ratio of 15.24. The firm has a 50-day moving average price of $56.23 and a 200-day moving average price of $48.03.
Primerica (NYSE:PRI) last issued its earnings results on Wednesday, May 4th. The company reported $0.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.02. The firm earned $363 million during the quarter, compared to the consensus estimate of $360.50 million. During the same period in the previous year, the company posted $0.80 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts expect that Primerica Inc. will post $4.25 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 16th. Shareholders of record on Friday, May 20th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Wednesday, May 18th.
In other Primerica news, COO Gregory C. Pitts sold 8,624 shares of the company’s stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $54.48, for a total value of $469,835.52. Following the completion of the sale, the chief operating officer now owns 29,419 shares of the company’s stock, valued at $1,602,747.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey S. Fendler sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $53.21, for a total transaction of $266,050.00. Following the completion of the sale, the executive vice president now directly owns 33,988 shares of the company’s stock, valued at approximately $1,808,501.48. The disclosure for this sale can be found here.
Several large investors recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of Primerica by 8.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,633,620 shares of the company’s stock valued at $77,158,000 after buying an additional 130,628 shares in the last quarter. I.G. Investment Management LTD. increased its stake in shares of Primerica by 1.0% in the fourth quarter. I.G. Investment Management LTD. now owns 182,397 shares of the company’s stock valued at $8,615,000 after buying an additional 1,816 shares in the last quarter. WBI Investments Inc. bought a new stake in shares of Primerica during the fourth quarter valued at about $5,184,000. Systematic Financial Management LP increased its stake in shares of Primerica by 28.2% in the fourth quarter. Systematic Financial Management LP now owns 85,565 shares of the company’s stock valued at $4,041,000 after buying an additional 18,840 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its stake in shares of Primerica by 5.9% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 540,000 shares of the company’s stock valued at $25,504,000 after buying an additional 30,000 shares in the last quarter.
Primerica Inc is a distributor of financial products and focuses on term life insurance, which it underwrites, and mutual funds, annuities and other financial products, which it distributes primarily on behalf of third parties. The Company operates through the Term Life Insurance, Investment and Savings Products, as well as Corporate and Other Distributed Products operating segments to organize, evaluate and manage its business.
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