Primerica Inc. (PRI) Stake Raised by Tower Research Capital LLC TRC
Tower Research Capital LLC TRC boosted its position in Primerica Inc. (NYSE:PRI) by 5,722.1% during the second quarter, Holdings Channel reports. The fund owned 4,483 shares of the company’s stock after buying an additional 4,406 shares during the period. Tower Research Capital LLC TRC’s holdings in Primerica were worth $257,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the company. Royal Bank of Canada increased its stake in shares of Primerica by 27.2% in the first quarter. Royal Bank of Canada now owns 41,216 shares of the company’s stock worth $1,836,000 after buying an additional 8,801 shares during the last quarter. RS Investment Management Co. LLC increased its stake in shares of Primerica by 23.5% in the second quarter. RS Investment Management Co. LLC now owns 1,247,548 shares of the company’s stock worth $71,410,000 after buying an additional 237,260 shares during the last quarter. First Republic Investment Management Inc. purchased a new stake in shares of Primerica during the first quarter worth about $223,000. BlackRock Group LTD increased its stake in shares of Primerica by 68.3% in the first quarter. BlackRock Group LTD now owns 48,512 shares of the company’s stock worth $2,161,000 after buying an additional 19,683 shares during the last quarter. Finally, Aperio Group LLC increased its stake in shares of Primerica by 11.1% in the first quarter. Aperio Group LLC now owns 26,134 shares of the company’s stock worth $1,164,000 after buying an additional 2,602 shares during the last quarter.
Primerica Inc. (NYSE:PRI) opened at 57.43 on Friday. The stock’s 50 day moving average is $55.97 and its 200-day moving average is $52.35. The company has a market capitalization of $2.67 billion, a P/E ratio of 14.02 and a beta of 0.80. Primerica Inc. has a 52-week low of $37.09 and a 52-week high of $59.34.
Primerica (NYSE:PRI) last announced its earnings results on Monday, August 8th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.13. The firm had revenue of $379.24 million for the quarter, compared to analyst estimates of $370.76 million. Primerica had a net margin of 13.90% and a return on equity of 17.32%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.93 EPS. Analysts predict that Primerica Inc. will post $4.42 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Wednesday, August 24th were given a dividend of $0.18 per share. This is a boost from Primerica’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Monday, August 22nd. Primerica’s dividend payout ratio (DPR) is 17.56%.
PRI has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of 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, August 12th. Keefe, Bruyette & Woods downgraded shares of Primerica from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $58.00 to $60.00 in a research report on Tuesday, July 12th. Finally, Wells Fargo & Co. assumed coverage on shares of Primerica in a research report on Thursday. They issued a “market perform” rating for the company. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Primerica has an average rating of “Buy” and a consensus target price of $61.50.
In related news, Director Joel M. Babbit sold 1,406 shares of Primerica stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $57.31, for a total transaction of $80,577.86. Following the completion of the transaction, the director now directly owns 1,915 shares of the company’s stock, valued at approximately $109,748.65. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider William A. Kelly sold 1,500 shares of Primerica stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $52.93, for a total transaction of $79,395.00. Following the transaction, the insider now directly owns 26,630 shares of the company’s stock, valued at $1,409,525.90. The disclosure for this sale can be found here. Corporate insiders own 1.24% of the company’s stock.
Primerica Company Profile
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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