State of New Jersey Common Pension Fund D lowered its stake in Primerica, Inc. (NYSE:PRI) by 7.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 350,000 shares of the financial services provider’s stock after selling 30,000 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.77% of Primerica worth $26,513,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PRI. Vanguard Group Inc. increased its stake in Primerica by 6.5% in the first quarter. Vanguard Group Inc. now owns 5,071,986 shares of the financial services provider’s stock valued at $416,917,000 after buying an additional 307,797 shares in the last quarter. BlackRock Inc. increased its stake in Primerica by 22,346.4% in the first quarter. BlackRock Inc. now owns 4,448,197 shares of the financial services provider’s stock valued at $365,642,000 after buying an additional 4,428,380 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in Primerica by 1.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,372,260 shares of the financial services provider’s stock valued at $277,200,000 after buying an additional 33,814 shares in the last quarter. State Street Corp increased its stake in Primerica by 2.7% in the first quarter. State Street Corp now owns 1,758,135 shares of the financial services provider’s stock valued at $144,519,000 after buying an additional 46,400 shares in the last quarter. Finally, FMR LLC increased its stake in Primerica by 10.7% in the first quarter. FMR LLC now owns 1,752,471 shares of the financial services provider’s stock valued at $144,053,000 after buying an additional 169,689 shares in the last quarter. Hedge funds and other institutional investors own 97.15% of the company’s stock.

Shares of Primerica, Inc. (NYSE:PRI) opened at 82.20 on Friday. The stock has a market cap of $3.74 billion, a P/E ratio of 17.18 and a beta of 1.14. The company has a 50 day moving average price of $77.33 and a 200-day moving average price of $78.73. Primerica, Inc. has a 12 month low of $49.77 and a 12 month high of $86.45.

Primerica (NYSE:PRI) last released its earnings results on Tuesday, May 9th. The financial services provider reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by $0.04. Primerica had a net margin of 14.49% and a return on equity of 18.22%. The firm had revenue of $405.20 million for the quarter, compared to analysts’ expectations of $401.58 million. During the same quarter last year, the firm posted $0.93 EPS. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities research analysts predict that Primerica, Inc. will post $5.23 earnings per share for the current year.

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Several equities research analysts have issued reports on PRI shares. Zacks Investment Research downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $81.00 price objective on shares of Primerica in a research report on Friday, May 12th. Wells Fargo & Company downgraded Primerica from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 20th. William Blair downgraded Primerica from an “outperform” rating to a “market perform” rating in a research report on Friday, April 21st. They noted that the move was a valuation call. Finally, BidaskClub upgraded Primerica from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Six equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Primerica presently has a consensus rating of “Hold” and a consensus target price of $78.20.

In related news, VP Alison S. Rand sold 2,000 shares of Primerica stock in a transaction on Friday, May 26th. The shares were sold at an average price of $71.55, for a total transaction of $143,100.00. Following the transaction, the vice president now owns 37,385 shares in the company, valued at approximately $2,674,896.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.24% of the stock is currently owned by insiders.

Primerica Company Profile

Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. 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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Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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