Teachers Advisors LLC boosted its stake in Primerica, Inc. (NYSE:PRI) by 2.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 84,661 shares of the financial services provider’s stock after buying an additional 2,239 shares during the period. Teachers Advisors LLC owned approximately 0.19% of Primerica worth $6,959,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of PRI. Norges Bank purchased a new stake in Primerica during the fourth quarter valued at $24,345,000. Quadrature Capital Ltd purchased a new stake in Primerica during the fourth quarter valued at $812,000. Macquarie Group Ltd. boosted its stake in Primerica by 7.6% in the fourth quarter. Macquarie Group Ltd. now owns 490,217 shares of the financial services provider’s stock valued at $33,899,000 after buying an additional 34,520 shares during the period. Bank of Montreal Can boosted its stake in Primerica by 24.5% in the first quarter. Bank of Montreal Can now owns 6,676 shares of the financial services provider’s stock valued at $549,000 after buying an additional 1,314 shares during the period. Finally, Capstone Asset Management Co. boosted its stake in Primerica by 4.7% in the first quarter. Capstone Asset Management Co. now owns 5,603 shares of the financial services provider’s stock valued at $461,000 after buying an additional 250 shares during the period. Institutional investors own 97.15% of the company’s stock.
Primerica (NYSE:PRI) last issued its quarterly earnings data on Tuesday, May 9th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.15 by $0.04. The company had revenue of $405.20 million for the quarter, compared to analysts’ expectations of $401.58 million. Primerica had a net margin of 14.49% and a return on equity of 18.22%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 earnings per share.
Several equities research analysts have recently weighed in on PRI shares. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $81.00 price objective on shares of Primerica in a research report on Monday, April 10th. Wells Fargo & Company lowered shares of Primerica from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 20th. William Blair lowered shares of Primerica from an “outperform” rating to a “market perform” rating in a research note on Friday, April 21st. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, May 12th. Finally, BidaskClub raised shares of Primerica from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $78.20.
In other Primerica news, VP Alison S. Rand sold 2,000 shares of the business’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $71.55, for a total transaction of $143,100.00. Following the transaction, the vice president now directly owns 37,385 shares of the company’s stock, valued at approximately $2,674,896.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.24% of the stock is currently owned by insiders.
About Primerica
Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. 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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