Public Employees Retirement System of Ohio Lowers Stake in Primerica, Inc. (PRI)
Public Employees Retirement System of Ohio trimmed its position in shares of Primerica, Inc. (NYSE:PRI) by 64.8% during the third quarter, HoldingsChannel.com reports. The firm owned 3,692 shares of the financial services provider’s stock after selling 6,806 shares during the period. Public Employees Retirement System of Ohio’s holdings in Primerica were worth $301,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of PRI. Koch Industries Inc. bought a new stake in Primerica during the second quarter worth $237,000. Macquarie Group Ltd. grew its holdings in Primerica by 25.2% during the second quarter. Macquarie Group Ltd. now owns 585,073 shares of the financial services provider’s stock worth $44,319,000 after buying an additional 117,739 shares in the last quarter. Voya Investment Management LLC grew its holdings in Primerica by 19.2% during the second quarter. Voya Investment Management LLC now owns 548,220 shares of the financial services provider’s stock worth $41,528,000 after buying an additional 88,376 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Primerica by 2.4% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,508,400 shares of the financial services provider’s stock worth $286,111,000 after buying an additional 81,603 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Primerica by 8.0% during the second quarter. Goldman Sachs Group Inc. now owns 927,674 shares of the financial services provider’s stock worth $70,272,000 after buying an additional 69,063 shares in the last quarter. 95.89% of the stock is currently owned by institutional investors.
Primerica, Inc. (NYSE PRI) opened at $103.65 on Monday. The stock has a market capitalization of $4,590.00, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 1.71 and a beta of 1.24. Primerica, Inc. has a 12 month low of $69.00 and a 12 month high of $106.40.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, November 17th were paid a $0.20 dividend. The ex-dividend date was Thursday, November 16th. This represents a $0.80 dividend on an annualized basis and a yield of 0.77%. Primerica’s dividend payout ratio (DPR) is presently 15.53%.
PRI has been the subject of several recent research reports. Zacks Investment Research upgraded Primerica from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a report on Wednesday, October 11th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $87.00 price objective on shares of Primerica in a research note on Monday, October 16th. SunTrust Banks downgraded Primerica from a “buy” rating to a “hold” rating in a research note on Thursday, October 19th. They noted that the move was a valuation call. Finally, ValuEngine upgraded Primerica from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $90.50.
In other news, VP Gregory C. Pitts sold 5,000 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $92.40, for a total transaction of $462,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.86% of the stock is owned by corporate insiders.
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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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