Van ECK Associates Corp Grows Stock Position in Primerica, Inc. (NYSE:PRI)

Van ECK Associates Corp raised its stake in shares of Primerica, Inc. (NYSE:PRIGet Rating) by 9.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,092 shares of the financial services provider’s stock after buying an additional 98 shares during the period. Van ECK Associates Corp’s holdings in Primerica were worth $135,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Covestor Ltd raised its stake in shares of Primerica by 74.7% during the 1st quarter. Covestor Ltd now owns 255 shares of the financial services provider’s stock valued at $35,000 after buying an additional 109 shares during the last quarter. Castle Wealth Management LLC purchased a new position in shares of Primerica in the 2nd quarter valued at about $38,000. Venture Visionary Partners LLC purchased a new position in shares of Primerica in the 2nd quarter valued at about $45,000. Eagle Bay Advisors LLC purchased a new position in shares of Primerica in the 2nd quarter valued at about $49,000. Finally, Parkwood LLC increased its stake in shares of Primerica by 5.4% in the 2nd quarter. Parkwood LLC now owns 58,794 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 3,002 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Insider Transactions at Primerica

In related news, CEO Glenn J. Williams sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $142.38, for a total value of $569,520.00. Following the transaction, the chief executive officer now directly owns 54,215 shares in the company, valued at $7,719,131.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Glenn J. Williams sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $142.38, for a total value of $569,520.00. Following the transaction, the chief executive officer now directly owns 54,215 shares in the company, valued at $7,719,131.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Alison S. Rand sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 30th. The shares were sold at an average price of $145.47, for a total value of $218,205.00. Following the completion of the transaction, the chief financial officer now owns 10,933 shares in the company, valued at $1,590,423.51. The disclosure for this sale can be found here. Insiders have sold a total of 9,000 shares of company stock worth $1,295,890 in the last ninety days. Insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research note on Tuesday, January 10th. Morgan Stanley lifted their price objective on Primerica from $137.00 to $150.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 10th. Finally, William Blair cut Primerica from an “outperform” rating to a “market perform” rating in a report on Thursday, November 10th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $164.00.

Primerica Trading Down 0.9 %

PRI stock opened at $147.93 on Friday. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of 20.86 and a beta of 1.20. The business’s 50-day moving average is $143.26 and its 200 day moving average is $134.39. Primerica, Inc. has a 12-month low of $110.22 and a 12-month high of $159.47.

Primerica (NYSE:PRIGet Rating) last issued its earnings results on Tuesday, November 8th. The financial services provider reported $3.02 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.02. The business had revenue of $673.29 million for the quarter, compared to analysts’ expectations of $675.99 million. Primerica had a return on equity of 22.96% and a net margin of 10.01%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.98 EPS. As a group, equities analysts forecast that Primerica, Inc. will post 10.93 EPS for the current fiscal year.

Primerica declared that its board has approved a share repurchase plan on Thursday, November 17th that allows the company to repurchase $375.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 14th. Stockholders of record on Tuesday, November 22nd were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Monday, November 21st. Primerica’s dividend payout ratio is currently 31.03%.

Primerica Profile

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Primerica, Inc engages in the provision of financial products to middle-income households. It operates through the following segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits in the in-force book of term life insurance policies.

Further Reading

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Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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