United Services Automobile Association bought a new stake in shares of Primerica, Inc. (NYSE:PRI) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,210 shares of the financial services provider’s stock, valued at approximately $510,000.
Several other hedge funds have also modified their holdings of PRI. Prudential Financial Inc. raised its position in shares of Primerica by 5.0% in the first quarter. Prudential Financial Inc. now owns 32,041 shares of the financial services provider’s stock valued at $2,634,000 after buying an additional 1,528 shares during the period. State Treasurer State of Michigan raised its position in shares of Primerica by 1.1% in the first quarter. State Treasurer State of Michigan now owns 18,600 shares of the financial services provider’s stock valued at $1,529,000 after buying an additional 200 shares during the period. Bank of New York Mellon Corp raised its position in shares of Primerica by 21.7% in the first quarter. Bank of New York Mellon Corp now owns 1,096,136 shares of the financial services provider’s stock valued at $90,104,000 after buying an additional 195,245 shares during the period. Comerica Bank raised its position in shares of Primerica by 4.2% in the fourth quarter. Comerica Bank now owns 34,691 shares of the financial services provider’s stock worth $2,588,000 after buying an additional 1,402 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Primerica by 1.7% in the first quarter. SG Americas Securities LLC now owns 8,180 shares of the financial services provider’s stock worth $672,000 after buying an additional 139 shares during the last quarter. Institutional investors own 97.08% of the company’s stock.
Primerica, Inc. (NYSE PRI) traded up 0.43% on Thursday, reaching $81.60. 152,713 shares of the company’s stock traded hands. The company’s 50 day moving average is $76.44 and its 200-day moving average is $78.42. Primerica, Inc. has a 52-week low of $49.69 and a 52-week high of $86.45. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 17.06 and a beta of 1.13.
Primerica (NYSE:PRI) last posted its quarterly earnings data on Tuesday, May 9th. The financial services provider reported $1.11 EPS for the quarter, missing the consensus estimate of $1.15 by $0.04. The firm had revenue of $405.20 million for the quarter, compared to analysts’ expectations of $401.58 million. Primerica had a return on equity of 18.22% and a net margin of 14.49%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.93 earnings per share. Equities analysts expect that Primerica, Inc. will post $5.23 EPS for the current year.
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A number of equities analysts recently weighed in on PRI shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $81.00 target price on shares of Primerica in a research note on Monday, April 10th. Wells Fargo & Company lowered shares of Primerica from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 20th. 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. Zacks Investment Research downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, May 12th. Finally, BidaskClub raised shares of Primerica from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $78.20.
In other Primerica news, VP Alison S. Rand sold 2,000 shares of Primerica stock in a transaction on Friday, May 26th. The shares were sold at an average price of $71.55, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.24% of the stock is owned by insiders.
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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