Jane Street Group LLC Invests $215,000 in Primerica, Inc. (PRI)
Jane Street Group LLC bought a new stake in shares of Primerica, Inc. (NYSE:PRI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,637 shares of the financial services provider’s stock, valued at approximately $215,000.
A number of other hedge funds have also modified their holdings of the business. Teacher Retirement System of Texas raised its holdings in Primerica by 1.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,669 shares of the financial services provider’s stock valued at $278,000 after acquiring an additional 69 shares during the period. Balyasny Asset Management LLC increased its holdings in shares of Primerica by 0.8% in the second quarter. Balyasny Asset Management LLC now owns 12,712 shares of the financial services provider’s stock worth $963,000 after purchasing an additional 100 shares during the period. Amalgamated Bank increased its holdings in shares of Primerica by 1.8% in the second quarter. Amalgamated Bank now owns 6,552 shares of the financial services provider’s stock worth $496,000 after purchasing an additional 113 shares during the period. Arizona State Retirement System increased its holdings in shares of Primerica by 1.1% in the second quarter. Arizona State Retirement System now owns 19,200 shares of the financial services provider’s stock worth $1,454,000 after purchasing an additional 200 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Primerica by 0.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 28,124 shares of the financial services provider’s stock worth $2,130,000 after purchasing an additional 225 shares during the period. 95.89% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Gregory C. Pitts sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $92.40, for a total value of $462,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.86% of the stock is currently owned by insiders.
Several research analysts have recently weighed in on PRI shares. SunTrust Banks cut shares of Primerica from a “buy” rating to a “hold” rating in a report on Thursday, October 19th. They noted that the move was a valuation call. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $95.00 price target on shares of Primerica in a report on Friday, November 10th. Finally, Zacks Investment Research raised shares of Primerica from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a report on Wednesday, October 11th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $90.50.
Primerica, Inc. (NYSE:PRI) opened at $103.40 on Friday. Primerica, Inc. has a 1 year low of $68.90 and a 1 year high of $106.40. The stock has a market cap of $4,559.76, a price-to-earnings ratio of 20.12, a P/E/G ratio of 1.92 and a beta of 1.24.
Primerica (NYSE:PRI) last announced its earnings results on Tuesday, November 7th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.09. Primerica had a net margin of 14.55% and a return on equity of 18.94%. The company had revenue of $427.30 million during the quarter, compared to analyst estimates of $425.83 million. During the same period in the previous year, the business earned $1.22 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. analysts expect that Primerica, Inc. will post 5.36 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 17th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $0.80 annualized dividend and a yield of 0.77%. Primerica’s dividend payout ratio (DPR) is presently 15.56%.
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.
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