1,970 Shares in Primerica, Inc. (NYSE:PRI) Purchased by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. bought a new position in Primerica, Inc. (NYSE:PRIGet Rating) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,970 shares of the financial services provider’s stock, valued at approximately $243,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC grew its stake in Primerica by 6.2% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,149,476 shares of the financial services provider’s stock worth $496,651,000 after acquiring an additional 241,400 shares in the last quarter. Burgundy Asset Management Ltd. grew its stake in Primerica by 2.1% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,286,132 shares of the financial services provider’s stock worth $153,937,000 after acquiring an additional 26,215 shares in the last quarter. State Street Corp grew its stake in Primerica by 0.6% in the 2nd quarter. State Street Corp now owns 1,112,658 shares of the financial services provider’s stock worth $133,174,000 after acquiring an additional 6,390 shares in the last quarter. Millennium Management LLC grew its stake in Primerica by 24.8% in the 2nd quarter. Millennium Management LLC now owns 452,728 shares of the financial services provider’s stock worth $54,187,000 after acquiring an additional 90,050 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Primerica by 3.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 339,011 shares of the financial services provider’s stock worth $46,384,000 after acquiring an additional 12,474 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

Primerica Stock Up 1.6 %

Shares of PRI opened at $150.87 on Friday. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 21.28 and a beta of 1.20. Primerica, Inc. has a twelve month low of $110.22 and a twelve month high of $159.47. The company has a 50 day moving average of $142.52 and a two-hundred day moving average of $133.66.

Primerica (NYSE:PRIGet Rating) last announced its earnings results on Tuesday, November 8th. The financial services provider reported $3.02 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.02. The company had revenue of $673.29 million during the quarter, compared to the consensus estimate of $675.99 million. Primerica had a net margin of 10.01% and a return on equity of 22.96%. Primerica’s revenue was down 2.9% compared to the same quarter last year. During the same period last year, the firm earned $2.98 earnings per share. On average, sell-side analysts expect that Primerica, Inc. will post 10.93 EPS for the current year.

Primerica declared that its board has initiated a share buyback program on Thursday, November 17th that authorizes the company to repurchase $375.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Primerica Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 14th. Shareholders of record on Tuesday, November 22nd were paid a $0.55 dividend. The ex-dividend date was Monday, November 21st. This represents a $2.20 annualized dividend and a yield of 1.46%. Primerica’s dividend payout ratio (DPR) is 31.03%.

Insider Buying and Selling at Primerica

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. William Blair downgraded shares of Primerica from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 10th. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research note on Tuesday, January 10th. Finally, Morgan Stanley increased their price objective on shares of Primerica from $137.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 10th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Primerica presently has an average rating of “Hold” and a consensus price target of $164.00.

Primerica Company Profile

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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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Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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