Public Employees Retirement Association of Colorado acquired a new position in shares of Primerica, Inc. (NYSE:PRI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,219 shares of the financial services provider’s stock, valued at approximately $327,000.
A number of other hedge funds also recently added to or reduced their stakes in the business. Parametrica Management Ltd purchased a new position in shares of Primerica during the fourth quarter worth approximately $203,000. Magnetar Financial LLC purchased a new position in shares of Primerica during the third quarter worth approximately $204,000. Jane Street Group LLC purchased a new position in shares of Primerica during the third quarter worth approximately $215,000. Oakbrook Investments LLC purchased a new position in shares of Primerica during the third quarter worth approximately $245,000. Finally, Nomura Holdings Inc. purchased a new position in shares of Primerica during the second quarter worth approximately $283,000. 90.42% of the stock is currently owned by institutional investors.
A number of equities analysts have recently issued reports on PRI shares. ValuEngine upgraded shares of Primerica from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Wells Fargo & Co set a $102.00 target price on shares of Primerica and gave the stock a “hold” rating in a research report on Wednesday, February 7th. Keefe, Bruyette & Woods restated a “hold” rating and set a $95.00 target price on shares of Primerica in a research report on Friday, November 10th. SunTrust Banks raised their target price on shares of Primerica to $112.00 and gave the stock a “hold” rating in a research report on Monday, January 22nd. Finally, Zacks Investment Research lowered shares of Primerica from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $101.25.
In other Primerica news, CFO Alison S. Rand sold 2,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $100.95, for a total transaction of $201,900.00. Following the sale, the chief financial officer now directly owns 31,385 shares in the company, valued at approximately $3,168,315.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Peter W. Schneider sold 991 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $100.97, for a total transaction of $100,061.27. Following the sale, the president now owns 25,881 shares in the company, valued at $2,613,204.57. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,982 shares of company stock worth $698,033. 0.86% of the stock is currently owned by insiders.
Primerica, Inc. (NYSE:PRI) opened at $96.45 on Wednesday. Primerica, Inc. has a 1 year low of $70.00 and a 1 year high of $108.05. The firm has a market cap of $4,262.78, a price-to-earnings ratio of 17.40, a P/E/G ratio of 1.33 and a beta of 1.14.
Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.17. Primerica had a net margin of 20.74% and a return on equity of 19.47%. The firm had revenue of $442.94 million for the quarter, compared to analyst estimates of $435.87 million. During the same period last year, the firm posted $1.19 EPS. Primerica’s quarterly revenue was up 12.5% on a year-over-year basis. analysts expect that Primerica, Inc. will post 7.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Thursday, February 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.04%. This is a positive change from Primerica’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, February 14th. Primerica’s dividend payout ratio (DPR) is 13.07%.
Primerica announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 7th that authorizes the company to buyback $225.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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.