Primerica Inc. (PRI) Shares Bought by RS Investment Management Co. LLC
RS Investment Management Co. LLC boosted its position in shares of Primerica Inc. (NYSE:PRI) by 23.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,247,548 shares of the company’s stock after buying an additional 237,260 shares during the period. Primerica accounts for about 0.7% of RS Investment Management Co. LLC’s investment portfolio, making the stock its 26th largest position. RS Investment Management Co. LLC’s holdings in Primerica were worth $71,410,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the stock. LS Investment Advisors LLC raised its stake in shares of Primerica by 72.9% in the second quarter. LS Investment Advisors LLC now owns 2,853 shares of the company’s stock worth $163,000 after buying an additional 1,203 shares during the last quarter. M&T Bank Corp raised its stake in shares of Primerica by 5.7% in the first quarter. M&T Bank Corp now owns 4,613 shares of the company’s stock worth $205,000 after buying an additional 247 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Primerica during the second quarter worth $207,000. 1st Global Advisors Inc. purchased a new stake in shares of Primerica during the second quarter worth $214,000. Finally, First Republic Investment Management Inc. purchased a new stake in shares of Primerica during the first quarter worth $223,000.
Primerica Inc. (NYSE:PRI) traded up 0.22% on Tuesday, hitting $55.86. 352,794 shares of the company were exchanged. The stock has a market cap of $2.60 billion, a PE ratio of 13.63 and a beta of 0.80. The firm has a 50 day moving average of $55.41 and a 200-day moving average of $52.18. Primerica Inc. has a 52-week low of $37.09 and a 52-week high of $59.34.
Primerica (NYSE:PRI) last released its quarterly earnings data 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. Primerica had a net margin of 13.90% and a return on equity of 17.32%. The company earned $379.24 million during the quarter, compared to the consensus estimate of $370.76 million. During the same period in the previous year, the firm earned $0.93 earnings per share. Primerica’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities analysts expect that Primerica Inc. will post $4.42 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Wednesday, August 24th were paid a dividend of $0.18 per share. This is an increase from Primerica’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.29%. The ex-dividend date was Monday, August 22nd. Primerica’s payout ratio is currently 17.56%.
A number of research analysts recently commented on PRI shares. Zacks Investment Research raised shares of Primerica from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Tuesday, July 12th. Keefe, Bruyette & Woods downgraded shares of Primerica from an “outperform” rating to a “market perform” rating and increased their target price for the company from $58.00 to $60.00 in a research report on Tuesday, July 12th.
In other Primerica news, insider Michael C. Adams sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $51.99, for a total transaction of $129,975.00. Following the completion of the sale, the insider now directly owns 40,589 shares in the company, valued at $2,110,222.11. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William A. Kelly sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, June 24th. The stock was sold at an average price of $55.00, for a total transaction of $82,500.00. Following the sale, the insider now owns 28,130 shares of the company’s stock, valued at $1,547,150. The disclosure for this sale can be found here. Company insiders own 1.24% of the company’s stock.
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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