Parametric Portfolio Associates LLC Purchase 7,907 Shares of Primerica, Inc. (PRI)

Parametric Portfolio Associates LLC Purchase 7,907 Shares of Primerica, Inc. (PRI)

Parametric Portfolio Associates LLC raised its position in shares of Primerica, Inc. (NYSE:PRI) by 6.4% during the first quarter, Holdings Channel reports. The fund owned 132,035 shares of the financial services provider’s stock after buying an additional 7,907 shares during the period. Parametric Portfolio Associates LLC’s holdings in Primerica were worth $10,853,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Elkfork Partners LLC acquired a new stake in Primerica during the fourth quarter worth about $223,000. Marshall Wace LLP acquired a new stake in Primerica during the fourth quarter worth about $17,435,000. Trexquant Investment LP acquired a new stake in Primerica during the fourth quarter worth about $816,000. O Shaughnessy Asset Management LLC increased its stake in Primerica by 1.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,582 shares of the financial services provider’s stock worth $109,000 after buying an additional 16 shares during the last quarter. Finally, Federated Investors Inc. PA increased its stake in Primerica by 66.5% in the fourth quarter. Federated Investors Inc. PA now owns 91,399 shares of the financial services provider’s stock worth $6,321,000 after buying an additional 36,502 shares during the last quarter.

Shares of Primerica, Inc. (PRI) opened at 72.80 on Monday. The company has a market capitalization of $3.31 billion, a PE ratio of 15.22 and a beta of 1.15. Primerica, Inc. has a 12-month low of $49.69 and a 12-month high of $86.45. The stock has a 50 day moving average of $79.81 and a 200-day moving average of $76.94.

Primerica (NYSE:PRI) last released its earnings results on Tuesday, May 9th. The financial services provider reported $1.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.15 by $0.04. Primerica had a return on equity of 17.98% and a net margin of 14.44%. The firm had revenue of $405.20 million for the quarter, compared to analysts’ expectations of $401.58 million. During the same quarter in the previous year, the company posted $0.93 earnings per share. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. Analysts predict that Primerica, Inc. will post $5.23 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Friday, May 19th will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, May 17th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.04%. Primerica’s payout ratio is 15.72%.

Several brokerages have recently weighed in on PRI. William Blair downgraded shares of Primerica from an “outperform” rating to a “market perform” rating in a research note on Friday, April 21st. They noted that the move was a valuation call. Wells Fargo & Co downgraded shares of Primerica from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 20th. Keefe, Bruyette & Woods set a $78.00 target price on shares of Primerica and gave the company a “hold” rating in a research note on Friday, March 17th. SunTrust Banks, Inc. set a $95.00 target price on shares of Primerica and gave the company a “buy” rating in a research note on Saturday, February 11th. Finally, Zacks Investment Research downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, May 12th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $83.25.

In related news, VP Alison S. Rand sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $71.55, for a total value of $143,100.00. Following the completion of the transaction, the vice president now directly owns 37,385 shares of the company’s stock, valued at $2,674,896.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William A. Kelly sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $82.29, for a total value of $205,725.00. Following the completion of the transaction, the insider now directly owns 20,486 shares of the company’s stock, valued at $1,685,792.94. The disclosure for this sale can be found here. Insiders have sold 6,350 shares of company stock worth $499,230 over the last 90 days. Insiders own 1.24% of the company’s stock.

About Primerica

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “PRI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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