Canada Pension Plan Investment Board Sells 13,100 Shares of Primerica, Inc. (PRI)
Canada Pension Plan Investment Board decreased its holdings in Primerica, Inc. (NYSE:PRI) by 67.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,200 shares of the financial services provider’s stock after selling 13,100 shares during the period. Canada Pension Plan Investment Board’s holdings in Primerica were worth $747,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the stock. FMR LLC raised its stake in Primerica by 46.5% in the third quarter. FMR LLC now owns 2,187,922 shares of the financial services provider’s stock worth $263,755,000 after buying an additional 694,763 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Primerica by 0.3% during the third quarter. Wells Fargo & Company MN now owns 835,985 shares of the financial services provider’s stock worth $100,778,000 after purchasing an additional 2,191 shares in the last quarter. Northern Trust Corp increased its position in shares of Primerica by 0.7% during the second quarter. Northern Trust Corp now owns 695,893 shares of the financial services provider’s stock worth $69,310,000 after purchasing an additional 4,524 shares in the last quarter. AGF Investments Inc. increased its position in shares of Primerica by 1.7% during the third quarter. AGF Investments Inc. now owns 689,637 shares of the financial services provider’s stock worth $83,136,000 after purchasing an additional 11,520 shares in the last quarter. Finally, Voya Investment Management LLC increased its position in shares of Primerica by 12.8% during the second quarter. Voya Investment Management LLC now owns 637,383 shares of the financial services provider’s stock worth $63,483,000 after purchasing an additional 72,436 shares in the last quarter. 89.42% of the stock is owned by institutional investors.
In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $116.21, for a total value of $348,630.00. Following the sale, the chief executive officer now directly owns 65,287 shares of the company’s stock, valued at $7,587,002.27. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider William A. Kelly sold 856 shares of the company’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $109.93, for a total transaction of $94,100.08. Following the completion of the sale, the insider now directly owns 14,416 shares in the company, valued at $1,584,750.88. The disclosure for this sale can be found here. Insiders have sold 7,856 shares of company stock worth $908,390 over the last three months. Corporate insiders own 0.89% of the company’s stock.
Primerica (NYSE:PRI) last announced its quarterly earnings data on Tuesday, November 6th. The financial services provider reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.07. The firm had revenue of $484.78 million for the quarter, compared to analyst estimates of $478.87 million. Primerica had a net margin of 21.88% and a return on equity of 21.72%. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.46 earnings per share. Equities research analysts anticipate that Primerica, Inc. will post 7.22 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 14th. Stockholders of record on Tuesday, November 20th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Monday, November 19th. Primerica’s dividend payout ratio (DPR) is presently 18.12%.
A number of brokerages have recently issued reports on PRI. ValuEngine downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Zacks Investment Research raised Primerica from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a research report on Wednesday, November 14th. Finally, Citigroup downgraded Primerica from a “neutral” rating to a “sell” rating and upped their price target for the stock from $100.00 to $108.00 in a research report on Tuesday, September 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $114.40.
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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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