Primerica, Inc. (PRI) Shares Sold by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. lessened its holdings in Primerica, Inc. (NYSE:PRI) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 311,465 shares of the financial services provider’s stock after selling 9,976 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.68% of Primerica worth $23,594,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. World Asset Management Inc lifted its holdings in shares of Primerica by 0.6% in the 2nd quarter. World Asset Management Inc now owns 2,856 shares of the financial services provider’s stock worth $216,000 after buying an additional 18 shares during the period. TD Asset Management Inc. lifted its holdings in shares of Primerica by 1.7% in the 1st quarter. TD Asset Management Inc. now owns 3,030 shares of the financial services provider’s stock worth $249,000 after buying an additional 52 shares during the period. Blair William & Co. IL lifted its holdings in shares of Primerica by 1.5% in the 1st quarter. Blair William & Co. IL now owns 8,293 shares of the financial services provider’s stock worth $676,000 after buying an additional 121 shares during the period. Texas Permanent School Fund lifted its holdings in shares of Primerica by 0.4% in the 2nd quarter. Texas Permanent School Fund now owns 33,221 shares of the financial services provider’s stock worth $2,516,000 after buying an additional 133 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Primerica by 1.7% in the 1st quarter. SG Americas Securities LLC now owns 8,180 shares of the financial services provider’s stock worth $672,000 after buying an additional 139 shares during the period. 94.82% of the stock is currently owned by institutional investors.
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Shares of Primerica, Inc. (NYSE:PRI) opened at 76.15 on Monday. The stock has a market capitalization of $3.42 billion, a PE ratio of 15.51 and a beta of 1.14. The company’s 50 day moving average price is $77.76 and its 200-day moving average price is $78.75. Primerica, Inc. has a 52 week low of $52.50 and a 52 week high of $86.45.
Primerica (NYSE:PRI) last released its earnings results on Tuesday, August 8th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.01. The firm had revenue of $413.70 million during the quarter, compared to analyst estimates of $410.97 million. Primerica had a return on equity of 18.48% and a net margin of 14.41%. Primerica’s revenue was up 9.2% compared to the same quarter last year. During the same period last year, the business posted $1.23 earnings per share. Equities research analysts predict that Primerica, Inc. will post $5.22 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 18th were issued a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This is a positive change from Primerica’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 1.05%. Primerica’s dividend payout ratio (DPR) is 16.33%.
PRI has been the subject of several research reports. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $83.00 target price on shares of Primerica in a report on Friday, June 23rd. BidaskClub upgraded Primerica from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Zacks Investment Research cut Primerica from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, Wells Fargo & Company reiterated a “hold” rating on shares of Primerica in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $83.75.
In related news, President Peter W. Schneider sold 1,301 shares of Primerica stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $76.92, for a total value of $100,072.92. Following the completion of the transaction, the president now directly owns 28,138 shares in the company, valued at $2,164,374.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $80.68, for a total value of $242,040.00. Following the completion of the transaction, the chief executive officer now owns 77,895 shares of the company’s stock, valued at $6,284,568.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,301 shares of company stock valued at $495,113. 0.86% of the stock is currently owned by company 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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