Primerica Inc. (PRI) Reaches New 52-Week High at $59.00
Primerica Inc. (NYSE:PRI) reached a new 52-week high during trading on Monday . The company traded as high as $59.00 and last traded at $58.02, with a volume of 279,477 shares trading hands. The stock had previously closed at $57.85.
PRI has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Primerica from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Thursday, March 24th. Keefe, Bruyette & Woods cut Primerica from an “outperform” rating to a “market perform” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Primerica presently has a consensus rating of “Buy” and a consensus price target of $56.25.
The company has a market cap of $2.77 billion and a PE ratio of 15.50. The company has a 50 day moving average of $56.59 and a 200-day moving average of $48.17.
Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, May 4th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.02. The business had revenue of $363 million for the quarter, compared to analyst estimates of $360.50 million. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 earnings per share. On average, equities research analysts predict that Primerica Inc. will post $4.25 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 16th. Stockholders of record on Friday, May 20th were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, May 18th. This represents a $0.68 annualized dividend and a dividend yield of 1.17%.
In other news, COO Gregory C. Pitts sold 8,624 shares of the business’s stock in a transaction dated Thursday, May 26th. The stock was 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 directly owns 29,419 shares of the company’s stock, valued at approximately $1,602,747.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William A. Kelly sold 1,500 shares of the business’s stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $55.00, for a total value of $82,500.00. Following the completion of the sale, the insider now directly owns 28,130 shares of the company’s stock, valued at $1,547,150. The disclosure for this sale can be found here.
Other hedge funds have recently bought and sold shares of the company. Morgan Stanley increased its stake in Primerica by 130.4% in the fourth quarter. Morgan Stanley now owns 31,015 shares of the company’s stock valued at $1,464,000 after buying an additional 17,553 shares in the last quarter. Liberty Mutual Group Asset Management Inc. increased its stake in Primerica by 51.4% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 31,979 shares of the company’s stock valued at $1,511,000 after buying an additional 10,852 shares in the last quarter. First Trust Advisors LP increased its stake in Primerica by 275.4% in the fourth quarter. First Trust Advisors LP now owns 78,394 shares of the company’s stock valued at $3,703,000 after buying an additional 57,512 shares in the last quarter. Systematic Financial Management LP increased its stake in 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, WBI Investments Inc. bought a new stake in Primerica during the fourth quarter valued at approximately $5,184,000.
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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