Primerica, Inc. (NYSE:PRI) Shares Acquired by Russell Investments Group Ltd.
Russell Investments Group Ltd. lifted its stake in shares of Primerica, Inc. (NYSE:PRI) by 40.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,023 shares of the financial services provider’s stock after purchasing an additional 13,602 shares during the quarter. Russell Investments Group Ltd. owned about 0.11% of Primerica worth $5,650,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of PRI. Advisory Services Network LLC grew its stake in Primerica by 176.8% in the 1st quarter. Advisory Services Network LLC now owns 263 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 168 shares during the last quarter. TCI Wealth Advisors Inc. boosted its stake in shares of Primerica by 50.0% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 300 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. Kavar Capital Partners LLC acquired a new stake in shares of Primerica during the 2nd quarter worth about $55,000. FNY Investment Advisers LLC acquired a new stake in shares of Primerica during the 2nd quarter worth about $80,000. Finally, NumerixS Investment Technologies Inc boosted its stake in shares of Primerica by 100.0% during the 1st quarter. NumerixS Investment Technologies Inc now owns 1,000 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 500 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $110.83, for a total transaction of $332,490.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Alison S. Rand sold 2,000 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $119.64, for a total transaction of $239,280.00. Following the transaction, the chief financial officer now owns 17,337 shares in the company, valued at $2,074,198.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,000 shares of company stock worth $929,550. Insiders own 0.84% of the company’s stock.
Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $2.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.14 by $0.07. The business had revenue of $504.90 million for the quarter, compared to analyst estimates of $503.84 million. Primerica had a net margin of 17.66% and a return on equity of 22.77%. The company’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.93 EPS. Analysts expect that Primerica, Inc. will post 8.2 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $0.34 per share. The ex-dividend date is Tuesday, August 20th. This represents a $1.36 annualized dividend and a dividend yield of 1.10%. Primerica’s payout ratio is currently 18.55%.
Several research firms have issued reports on PRI. Zacks Investment Research raised shares of Primerica from a “hold” rating to a “buy” rating and set a $128.00 price target on the stock in a research note on Tuesday, August 13th. Citigroup set a $108.00 price objective on shares of Primerica and gave the stock a “sell” rating in a report on Thursday, May 23rd.
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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