Amalgamated Bank raised its stake in Primerica, Inc. (NYSE:PRI – Free Report) by 12.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,302 shares of the financial services provider’s stock after buying an additional 3,067 shares during the quarter. Amalgamated Bank owned about 0.08% of Primerica worth $5,491,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Arlington Trust Co LLC acquired a new position in Primerica in the third quarter valued at about $25,000. Huntington National Bank lifted its position in shares of Primerica by 13,200.0% during the second quarter. Huntington National Bank now owns 133 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 132 shares in the last quarter. LWM Advisory Services LLC acquired a new stake in shares of Primerica during the third quarter worth about $26,000. Covestor Ltd lifted its position in shares of Primerica by 74.7% during the first quarter. Covestor Ltd now owns 255 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 109 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Primerica during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 90.56% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently issued reports on PRI. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a research report on Thursday, January 18th. Morgan Stanley increased their price target on shares of Primerica from $190.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 15th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $219.20.
Insider Buying and Selling
In other Primerica news, CFO Alison S. Rand sold 3,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $210.07, for a total value of $630,210.00. Following the transaction, the chief financial officer now directly owns 6,444 shares in the company, valued at $1,353,691.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.87% of the company’s stock.
Primerica Stock Performance
PRI stock opened at $230.92 on Wednesday. The company’s 50 day moving average price is $215.32 and its 200 day moving average price is $207.87. Primerica, Inc. has a fifty-two week low of $155.68 and a fifty-two week high of $236.71. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of 15.27 and a beta of 1.07.
Primerica (NYSE:PRI – Get Free Report) last released its earnings results on Tuesday, November 7th. The financial services provider reported $4.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.03 by $0.25. Primerica had a net margin of 19.94% and a return on equity of 28.00%. The firm had revenue of $710.90 million for the quarter, compared to analyst estimates of $703.50 million. During the same period in the prior year, the firm earned $3.02 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities analysts forecast that Primerica, Inc. will post 16.06 EPS for the current fiscal year.
Primerica declared that its Board of Directors has approved a stock buyback plan on Thursday, November 16th that authorizes the company to repurchase $425.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 5.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
Primerica, Inc, together with its subsidiaries, provides financial products to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products. The Term Life Insurance segment underwrites individual term life insurance products.
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