Bbva Compass Bancshares Inc. cut its holdings in shares of Primerica, Inc. (NYSE:PRI) by 7.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,437 shares of the financial services provider’s stock after selling 1,288 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Primerica were worth $2,007,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Nisa Investment Advisors LLC increased its stake in shares of Primerica by 1.2% during the first quarter. Nisa Investment Advisors LLC now owns 8,280 shares of the financial services provider’s stock valued at $1,011,000 after buying an additional 100 shares during the period. TD Asset Management Inc. increased its stake in shares of Primerica by 2.5% during the fourth quarter. TD Asset Management Inc. now owns 4,532 shares of the financial services provider’s stock valued at $443,000 after buying an additional 110 shares during the period. BB&T Corp increased its stake in shares of Primerica by 3.9% during the fourth quarter. BB&T Corp now owns 4,213 shares of the financial services provider’s stock valued at $411,000 after buying an additional 159 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of Primerica by 2.6% during the first quarter. Crossmark Global Holdings Inc. now owns 6,733 shares of the financial services provider’s stock valued at $822,000 after buying an additional 170 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Primerica by 0.6% during the fourth quarter. Arizona State Retirement System now owns 30,818 shares of the financial services provider’s stock valued at $3,011,000 after buying an additional 196 shares during the period. 93.70% of the stock is currently owned by hedge funds and other institutional investors.
NYSE PRI opened at $127.40 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.57 and a current ratio of 0.57. Primerica, Inc. has a twelve month low of $90.28 and a twelve month high of $132.17. The company has a market cap of $5.37 billion, a P/E ratio of 17.38 and a beta of 1.41.
Primerica (NYSE:PRI) last released its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $1.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.03. Primerica had a return on equity of 22.89% and a net margin of 17.44%. The company had revenue of $494.99 million for the quarter, compared to analyst estimates of $498.57 million. During the same period in the previous year, the company posted $1.47 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. Research analysts predict that Primerica, Inc. will post 8.13 EPS for the current fiscal year.
Primerica announced that its board has approved a stock buyback program on Thursday, February 7th that authorizes the company to repurchase $275.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 5.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 22nd will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Tuesday, May 21st. Primerica’s dividend payout ratio (DPR) is 18.55%.
In other Primerica news, Director John A. Jr. Addison sold 3,249 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $122.85, for a total value of $399,139.65. Following the sale, the director now directly owns 20,359 shares of the company’s stock, valued at $2,501,103.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Gregory C. Pitts sold 3,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $125.04, for a total value of $375,120.00. Following the completion of the sale, the vice president now directly owns 16,030 shares in the company, valued at $2,004,391.20. The disclosure for this sale can be found here. Insiders sold 16,249 shares of company stock worth $1,995,400 over the last three months. Corporate insiders own 0.84% of the company’s stock.
Separately, Credit Suisse Group started coverage on Primerica in a research report on Friday, January 18th. They set an “outperform” rating and a $135.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $123.60.
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Primerica Company Profile
Primerica, Inc, together with its subsidiaries, provides 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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