Connable Office Inc. Holds Position in Primerica, Inc. (NYSE:PRI)
Connable Office Inc. continued to hold its stake in Primerica, Inc. (NYSE:PRI) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,993 shares of the financial services provider’s stock at the end of the second quarter. Connable Office Inc.’s holdings in Primerica were worth $378,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised 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 worth $416,917,000 after buying an additional 307,797 shares in the last quarter. BlackRock Inc. raised 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 worth $365,642,000 after buying an additional 4,428,380 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised 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 worth $277,200,000 after buying an additional 33,814 shares in the last quarter. State Street Corp raised 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 worth $144,519,000 after buying an additional 46,400 shares in the last quarter. Finally, FMR LLC raised 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 worth $144,053,000 after buying an additional 169,689 shares in the last quarter. Institutional investors and hedge funds own 97.09% of the company’s stock.
Primerica, Inc. (NYSE:PRI) opened at 80.85 on Friday. Primerica, Inc. has a 52 week low of $52.50 and a 52 week high of $86.45. The stock has a 50 day moving average of $78.53 and a 200 day moving average of $79.03. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 16.47 and a beta of 1.14.
Primerica (NYSE:PRI) last announced its earnings results on Tuesday, August 8th. The financial services provider reported $1.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.01. Primerica had a return on equity of 18.48% and a net margin of 14.41%. The business had revenue of $413.70 million for the quarter, compared to analysts’ expectations of $410.97 million. During the same period in the prior year, the business posted $1.23 earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis. Equities research analysts predict that Primerica, Inc. will post $5.23 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 18th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.99%. This is a boost from Primerica’s previous quarterly dividend of $0.19. The ex-dividend date is Wednesday, August 16th. Primerica’s dividend payout ratio is presently 15.51%.
Several research firms have weighed in on PRI. Zacks Investment Research lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, May 12th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $81.00 target price on shares of Primerica in a research report on Friday, May 12th. Wells Fargo & Company downgraded shares of Primerica from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 20th. William Blair downgraded shares of Primerica from an “outperform” rating to a “market perform” rating in a report on Friday, April 21st. They noted that the move was a valuation call. Finally, BidaskClub raised shares of Primerica from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $83.75.
In related news, VP Alison S. Rand sold 2,000 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $71.55, for a total value of $143,100.00. Following the transaction, the vice president now directly owns 37,385 shares in the company, valued at approximately $2,674,896.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.24% of the stock is currently owned by corporate 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.
Want to see what other hedge funds are holding PRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Primerica, Inc. (NYSE:PRI).
Receive News & Ratings for Primerica Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primerica Inc. and related companies with MarketBeat.com's FREE daily email newsletter.