Trading Report: The Vanguard Group Inc. invests in Primerica Inc. (PRI) Shares

The Vanguard Group Inc. invests in Primerica Inc. (PRI) Shares

Vanguard Group Inc. increased its position in Primerica Inc. (NYSE:PRI) by 14.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,173,713 shares of the company’s stock after buying an additional 526,902 shares during the period. Vanguard Group Inc. owned approximately 8.87% of Primerica worth $238,904,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. LS Investment Advisors LLC increased its position in Primerica by 72.9% in the second quarter. LS Investment Advisors LLC now owns 2,853 shares of the company’s stock worth $163,000 after buying an additional 1,203 shares during the period. Huntington National Bank increased its position in Primerica by 4.2% in the second quarter. Huntington National Bank now owns 2,969 shares of the company’s stock worth $170,000 after buying an additional 119 shares during the period. Calvert Investment Management Inc. bought a new position in Primerica during the second quarter worth $200,000. M&T Bank Corp increased its position in Primerica by 5.7% in the first quarter. M&T Bank Corp now owns 4,613 shares of the company’s stock worth $205,000 after buying an additional 247 shares during the period. Finally, Bank of Montreal Can bought a new position in Primerica during the second quarter worth $207,000.

Primerica Inc. (NYSE:PRI) opened at 55.18 on Friday. The firm’s 50-day moving average is $55.73 and its 200 day moving average is $53.40. Primerica Inc. has a 52-week low of $37.09 and a 52-week high of $59.34. The firm has a market capitalization of $2.56 billion, a P/E ratio of 13.47 and a beta of 0.93.

Primerica (NYSE:PRI) last released its earnings results on Monday, August 8th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.13. Primerica had a net margin of 13.90% and a return on equity of 17.32%. The firm earned $379.24 million during the quarter, compared to analyst estimates of $370.76 million. During the same quarter in the previous year, the business earned $0.93 EPS. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities analysts anticipate that Primerica Inc. will post $4.41 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Wednesday, August 24th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.30%. This is a boost from Primerica’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Monday, August 22nd. Primerica’s dividend payout ratio (DPR) is currently 17.56%.

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Co. assumed coverage on shares of Primerica in a research note on Thursday, September 22nd. They issued a “market perform” rating on the stock. Keefe, Bruyette & Woods downgraded shares of Primerica from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $58.00 to $60.00 in a research note on Tuesday, July 12th. Finally, Zacks Investment Research raised shares of Primerica from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Tuesday, July 12th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $61.50.

In other news, insider Michael C. Adams sold 2,500 shares of Primerica stock in a transaction on Monday, August 1st. The shares were sold at an average price of $51.99, for a total transaction of $129,975.00. Following the transaction, the insider now directly owns 40,589 shares of the company’s stock, valued at $2,110,222.11. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider William A. Kelly sold 1,500 shares of Primerica stock in a transaction on Monday, July 25th. The stock was sold at an average price of $52.93, for a total transaction of $79,395.00. Following the transaction, the insider now directly owns 26,630 shares in the company, valued at $1,409,525.90. The disclosure for this sale can be found here. Insiders own 1.24% of the company’s stock.

Primerica Company Profile

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