Primerica, Inc. (PRI) Stake Raised by Northwestern Mutual Investment Management Company LLC
Northwestern Mutual Investment Management Company LLC lifted its position in shares of Primerica, Inc. (NYSE:PRI) by 3.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,123 shares of the financial services provider’s stock after acquiring an additional 247 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Primerica were worth $465,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Primerica by 13.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,081 shares of the financial services provider’s stock worth $158,000 after acquiring an additional 242 shares in the last quarter. Independent Portfolio Consultants Inc. purchased a new stake in shares of Primerica during the 2nd quarter worth about $211,000. World Asset Management Inc purchased a new stake in shares of Primerica during the 1st quarter worth about $233,000. TD Asset Management Inc. boosted its stake in shares of Primerica by 1.7% during the 1st quarter. TD Asset Management Inc. now owns 3,030 shares of the financial services provider’s stock worth $249,000 after acquiring an additional 52 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in shares of Primerica during the 1st quarter worth about $274,000. 94.89% of the stock is currently owned by institutional investors and hedge funds.
In other Primerica news, VP Alison S. Rand sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $76.50, for a total transaction of $153,000.00. Following the transaction, the vice president now directly owns 35,385 shares in the company, valued at $2,706,952.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $80.68, for a total transaction of $242,040.00. Following the transaction, the chief executive officer now owns 77,895 shares in the company, valued at $6,284,568.60. The disclosure for this sale can be found here. Insiders have sold 6,301 shares of company stock worth $495,113 over the last 90 days. 0.86% of the stock is currently owned by company insiders.
Primerica, Inc. (NYSE PRI) opened at 75.10 on Friday. The company has a 50-day moving average of $77.92 and a 200-day moving average of $78.78. Primerica, Inc. has a 52 week low of $52.50 and a 52 week high of $86.45. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 15.30 and a beta of 1.14.
Primerica (NYSE:PRI) last issued its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.01. Primerica had a net margin of 14.41% and a return on equity of 18.48%. The business had revenue of $413.70 million for the quarter, compared to analyst estimates of $410.97 million. During the same period in the previous year, the business posted $1.23 earnings per share. The business’s revenue was up 9.2% compared to the same quarter last year. Analysts anticipate that Primerica, Inc. will post $5.22 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 18th will be given a dividend of $0.20 per share. This is a positive change from Primerica’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.07%. The ex-dividend date is Wednesday, August 16th. Primerica’s dividend payout ratio is presently 16.33%.
Several research firms have recently issued reports on PRI. BidaskClub raised shares of Primerica from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Wells Fargo & Company reissued a “hold” rating on shares of Primerica in a research note on Tuesday, August 8th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $83.00 target price on shares of Primerica in a research note on Friday, June 23rd. Finally, Zacks Investment Research lowered shares of Primerica from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Primerica presently has a consensus rating of “Hold” and an average price target of $83.75.
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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