Primerica Inc. (PRI) Trading Down 2.2%
Primerica Inc. (NYSE:PRI) traded down 2.2% during trading on Friday . The company traded as low as $54.85 and last traded at $55.22, with a volume of 146,046 shares. The stock had previously closed at $56.45.
A number of equities research analysts have commented on the company. Zacks Investment Research upgraded Primerica from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research report on Friday. Keefe, Bruyette & Woods lowered Primerica from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $58.00 to $60.00 in a research report on Tuesday, July 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $57.67.
The stock’s 50 day moving average is $54.54 and its 200 day moving average is $49.43. The stock has a market capitalization of $2.64 billion and a price-to-earnings ratio of 13.54.
Primerica (NYSE:PRI) last announced its quarterly earnings results on Monday, August 8th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.13. The business earned $379.24 million during the quarter, compared to the consensus estimate of $370.76 million. During the same quarter last year, the company earned $0.93 earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. Equities research analysts anticipate that Primerica Inc. will post $4.32 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Wednesday, August 24th will be issued a $0.18 dividend. The ex-dividend date is Monday, August 22nd. This represents a $0.72 annualized dividend and a dividend yield of 1.30%. This is a positive change from Primerica’s previous quarterly dividend of $0.17.
In related news, COO Gregory C. Pitts sold 8,624 shares of the stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $54.48, for a total transaction of $469,835.52. Following the completion of the transaction, the chief operating officer now directly owns 29,419 shares in the company, valued at $1,602,747.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Gregory C. Pitts sold 2,500 shares of the stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $58.07, for a total value of $145,175.00. Following the transaction, the chief operating officer now owns 15,221 shares of the company’s stock, valued at $883,883.47. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently bought and sold shares of the company. State of New Jersey Common Pension Fund D increased its position in 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 worth $25,504,000 after buying an additional 30,000 shares during the last quarter. Wells Fargo & Company MN increased its position in Primerica by 1.3% in the fourth quarter. Wells Fargo & Company MN now owns 907,963 shares of the company’s stock worth $42,883,000 after buying an additional 11,566 shares during the last quarter. RS Investment Management Co. LLC increased its position in Primerica by 17.2% in the fourth quarter. RS Investment Management Co. LLC now owns 732,112 shares of the company’s stock worth $34,578,000 after buying an additional 107,307 shares during the last quarter. Systematic Financial Management LP increased its position in Primerica by 28.2% in the fourth quarter. Systematic Financial Management LP now owns 85,565 shares of the company’s stock worth $4,041,000 after buying an additional 18,840 shares during the last quarter. Finally, I.G. Investment Management LTD. increased its position in Primerica by 1.0% in the fourth quarter. I.G. Investment Management LTD. now owns 182,397 shares of the company’s stock worth $8,615,000 after buying an additional 1,816 shares during the last quarter.
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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