Trade Report: The Primerica Inc. (PRI) Stake Maintained by Huntington National Bank

The Primerica Inc. (PRI) Stake Maintained by Huntington National Bank

Huntington National Bank held its stake in Primerica Inc. (NYSE:PRI) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,850 shares of the company’s stock at the end of the second quarter. Huntington National Bank’s holdings in Primerica were worth $145,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. LS Investment Advisors LLC increased its stake 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 last quarter. Bank of Montreal Can acquired a new stake in Primerica during the second quarter worth $207,000. 1st Global Advisors Inc. acquired a new stake in Primerica during the second quarter worth $214,000. M&T Bank Corp increased its stake 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 last quarter. Finally, Nisa Investment Advisors L.L.C. acquired a new stake in Primerica during the first quarter worth $356,000.

Shares of Primerica Inc. (NYSE:PRI) traded down 0.92% on Friday, reaching $53.82. 451,942 shares of the company were exchanged. The stock has a market capitalization of $2.50 billion, a PE ratio of 13.14 and a beta of 0.93. Primerica Inc. has a 12-month low of $37.09 and a 12-month high of $59.34. The firm has a 50 day moving average price of $55.82 and a 200-day moving average price of $53.15.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Monday, August 8th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.13. Primerica had a net margin of 13.90% and a return on equity of 17.32%. The business earned $379.24 million during the quarter, compared to the consensus estimate of $370.76 million. During the same period in the prior year, the firm posted $0.93 EPS. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, analysts predict that Primerica Inc. will post $4.41 EPS for the current fiscal year.

The business also recently announced 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 is an increase from Primerica’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Monday, August 22nd. Primerica’s dividend payout ratio is currently 17.56%.

A number of research firms have recently weighed in on PRI. Keefe, Bruyette & Woods downgraded shares of Primerica from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $58.00 to $60.00 in a research report on Tuesday, July 12th. Zacks Investment Research upgraded shares of Primerica from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Tuesday, July 12th. Finally, Wells Fargo & Co. began coverage on shares of Primerica in a research report on Thursday, September 22nd. They issued a “market perform” rating for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Primerica currently has a consensus rating of “Buy” and an average target price of $61.50.

In other news, insider Michael C. Adams sold 2,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 40,589 shares of the company’s stock, valued at approximately $2,110,222.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joel M. Babbit sold 1,406 shares of the stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $57.31, for a total transaction of $80,577.86. Following the transaction, the director now directly owns 1,915 shares of the company’s stock, valued at $109,748.65. The disclosure for this sale can be found here. Insiders own 1.24% of the company’s stock.

Primerica Company Profile

Primerica Inc (Primerica) distributes financial products to middle-income households. The Company operates through three segments. 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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