Primerica, Inc. (PRI) Holdings Reduced by Sheaff Brock Investment Advisors LLC
Sheaff Brock Investment Advisors LLC lowered its position in Primerica, Inc. (NYSE:PRI) by 15.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,495 shares of the financial services provider’s stock after selling 1,571 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Primerica were worth $1,024,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Royal London Asset Management Ltd. lifted its stake in Primerica by 131.1% during the third quarter. Royal London Asset Management Ltd. now owns 25,075 shares of the financial services provider’s stock valued at $3,022,000 after purchasing an additional 14,226 shares during the last quarter. Commonwealth Bank of Australia acquired a new stake in Primerica during the third quarter valued at approximately $421,000. AGF Investments Inc. lifted its stake in Primerica by 1.7% during the third quarter. AGF Investments Inc. now owns 689,637 shares of the financial services provider’s stock valued at $83,136,000 after purchasing an additional 11,520 shares during the last quarter. SG Americas Securities LLC lifted its stake in Primerica by 119.6% during the third quarter. SG Americas Securities LLC now owns 17,466 shares of the financial services provider’s stock valued at $2,106,000 after purchasing an additional 9,513 shares during the last quarter. Finally, Dupont Capital Management Corp lifted its stake in Primerica by 28.2% during the third quarter. Dupont Capital Management Corp now owns 29,189 shares of the financial services provider’s stock valued at $3,519,000 after purchasing an additional 6,413 shares during the last quarter. Hedge funds and other institutional investors own 90.52% of the company’s stock.
Several equities research analysts recently commented on PRI shares. Zacks Investment Research upgraded shares of Primerica from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research report on Saturday, August 11th. Citigroup downgraded shares of Primerica from a “neutral” rating to a “sell” rating and upped their price target for the company from $100.00 to $108.00 in a research report on Tuesday, September 18th. ValuEngine downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Finally, SunTrust Banks upped their price target on shares of Primerica to $118.00 and gave the company a “hold” rating in a research report on Monday, July 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Primerica has a consensus rating of “Hold” and a consensus price target of $114.40.
Primerica (NYSE:PRI) last issued its quarterly earnings results on Tuesday, November 6th. The financial services provider reported $1.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.07. The business had revenue of $484.78 million during the quarter, compared to the consensus estimate of $478.87 million. Primerica had a net margin of 21.88% and a return on equity of 21.72%. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 EPS. As a group, research analysts forecast that Primerica, Inc. will post 7.22 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Tuesday, November 20th will be paid a $0.25 dividend. The ex-dividend date is Monday, November 19th. This represents a $1.00 annualized dividend and a yield of 0.86%. Primerica’s dividend payout ratio is presently 18.12%.
In other Primerica news, VP Gregory C. Pitts sold 2,449 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $122.28, for a total value of $299,463.72. Following the transaction, the vice president now owns 12,609 shares in the company, valued at approximately $1,541,828.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $120.63, for a total transaction of $361,890.00. Following the completion of the transaction, the chief executive officer now owns 68,287 shares in the company, valued at approximately $8,237,460.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,712 shares of company stock worth $2,138,806. Company insiders own 0.89% of the company’s stock.
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Primerica, Inc, together with its subsidiaries, distributes financial products to middle income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.
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