Primerica, Inc. (PRI) Stake Increased by Nordea Investment Management AB

Nordea Investment Management AB grew its stake in Primerica, Inc. (NYSE:PRI) by 4.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,741 shares of the financial services provider’s stock after acquiring an additional 1,159 shares during the quarter. Nordea Investment Management AB owned 0.06% of Primerica worth $2,262,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Bank of Montreal Can grew its position in shares of Primerica by 18.1% in the 2nd quarter. Bank of Montreal Can now owns 7,885 shares of the financial services provider’s stock valued at $598,000 after purchasing an additional 1,209 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Primerica by 4.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,670 shares of the financial services provider’s stock valued at $645,000 after purchasing an additional 400 shares during the period. Russell Investments Group Ltd. grew its position in shares of Primerica by 85.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 49,541 shares of the financial services provider’s stock valued at $3,753,000 after purchasing an additional 22,894 shares during the period. Strs Ohio grew its position in shares of Primerica by 5.7% in the 2nd quarter. Strs Ohio now owns 7,400 shares of the financial services provider’s stock valued at $560,000 after purchasing an additional 400 shares during the period. Finally, Great West Life Assurance Co. Can grew its position in shares of Primerica by 13.7% in the 2nd quarter. Great West Life Assurance Co. Can now owns 40,845 shares of the financial services provider’s stock valued at $3,091,000 after purchasing an additional 4,929 shares during the period. 95.91% of the stock is owned by institutional investors.

In other Primerica news, VP Gregory C. Pitts sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $92.40, for a total transaction of $462,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.86% of the company’s stock.

Several equities analysts recently issued reports on the company. BidaskClub lowered Primerica from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 18th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Primerica in a research report on Tuesday, August 8th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $87.00 price target on shares of Primerica in a research report on Monday, October 16th. SunTrust Banks downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Thursday, October 19th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Primerica from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $90.50.

Primerica, Inc. (NYSE PRI) traded down $1.05 during trading hours on Wednesday, reaching $102.70. The company’s stock had a trading volume of 119,908 shares, compared to its average volume of 304,512. Primerica, Inc. has a 52-week low of $68.60 and a 52-week high of $106.40. The firm has a market cap of $4,646.05, a P/E ratio of 20.51, a P/E/G ratio of 1.96 and a beta of 1.24.

Primerica (NYSE:PRI) last released its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.09. Primerica had a return on equity of 18.94% and a net margin of 14.55%. The firm had revenue of $427.30 million during the quarter, compared to the consensus estimate of $425.83 million. During the same quarter in the prior year, the firm posted $1.22 EPS. The business’s revenue was up 11.4% on a year-over-year basis. analysts expect that Primerica, Inc. will post 5.36 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Thursday, November 16th. Primerica’s dividend payout ratio (DPR) is currently 15.56%.

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Primerica Company Profile

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.

Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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