Koch Industries Inc. raised its stake in Primerica, Inc. (NYSE:PRI) by 16.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,723 shares of the financial services provider’s stock after purchasing an additional 662 shares during the quarter. Koch Industries Inc.’s holdings in Primerica were worth $456,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in PRI. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Primerica by 4.1% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,767,799 shares of the financial services provider’s stock valued at $363,971,000 after purchasing an additional 147,816 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of Primerica by 481.7% in the fourth quarter. Schroder Investment Management Group now owns 161,100 shares of the financial services provider’s stock valued at $16,360,000 after buying an additional 133,404 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Primerica by 162.5% in the fourth quarter. Deutsche Bank AG now owns 189,987 shares of the financial services provider’s stock valued at $19,290,000 after buying an additional 117,616 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Primerica by 24.3% in the first quarter. JPMorgan Chase & Co. now owns 547,358 shares of the financial services provider’s stock valued at $52,875,000 after buying an additional 106,866 shares in the last quarter. Finally, WBI Investments Inc. purchased a new stake in shares of Primerica in the first quarter valued at approximately $6,002,000. Institutional investors own 88.41% of the company’s stock.
A number of analysts recently weighed in on the company. ValuEngine downgraded Primerica from a “buy” rating to a “hold” rating in a research note on Friday, April 13th. Zacks Investment Research downgraded Primerica from a “hold” rating to a “sell” rating in a research note on Friday, May 11th. Finally, Wells Fargo & Co set a $102.00 price target on Primerica and gave the company a “hold” rating in a research note on Tuesday, May 8th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Primerica presently has a consensus rating of “Hold” and a consensus price target of $101.25.
Primerica (NYSE:PRI) last posted its quarterly earnings results on Tuesday, May 8th. The financial services provider reported $1.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.49 by ($0.02). Primerica had a net margin of 20.87% and a return on equity of 19.88%. The business had revenue of $459.92 million during the quarter, compared to analysts’ expectations of $459.83 million. During the same quarter last year, the firm earned $1.11 earnings per share. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. research analysts anticipate that Primerica, Inc. will post 7.16 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Tuesday, May 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, May 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.99%. Primerica’s dividend payout ratio (DPR) is presently 18.12%.
Primerica, Inc, together with its subsidiaries, distributes financial products to middle income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.
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