Prospector Partners LLC trimmed its position in shares of Primerica, Inc. (NYSE:PRI) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 110,200 shares of the financial services provider’s stock after selling 2,400 shares during the period. Primerica makes up about 1.4% of Prospector Partners LLC’s holdings, making the stock its 24th biggest holding. Prospector Partners LLC owned 0.25% of Primerica worth $8,987,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Primerica during the 2nd quarter worth $125,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Primerica by 13.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,081 shares of the financial services provider’s stock worth $158,000 after buying an additional 242 shares during the last quarter. Flinton Capital Management LLC increased its holdings in shares of Primerica by 69.5% during the 2nd quarter. Flinton Capital Management LLC now owns 2,224 shares of the financial services provider’s stock worth $169,000 after buying an additional 912 shares during the last quarter. Magnetar Financial LLC acquired a new stake in shares of Primerica during the 3rd quarter worth $204,000. Finally, Riverhead Capital Management LLC increased its holdings in shares of Primerica by 68.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,530 shares of the financial services provider’s stock worth $192,000 after buying an additional 1,030 shares during the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.
Shares of Primerica, Inc. (NYSE PRI) traded down $1.50 during trading on Thursday, reaching $102.25. 338,700 shares of the company were exchanged, compared to its average volume of 304,657. Primerica, Inc. has a 12-month low of $68.60 and a 12-month high of $106.40. The stock has a market cap of $4,590.74, a PE ratio of 20.26, a price-to-earnings-growth ratio of 1.94 and a beta of 1.24.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $0.80 dividend on an annualized basis and a yield of 0.78%. Primerica’s dividend payout ratio (DPR) is 15.56%.
In related news, VP Gregory C. Pitts sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $92.40, for a total transaction of $462,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.86% of the stock is currently owned by corporate insiders.
A number of analysts have recently commented on PRI shares. SunTrust Banks downgraded Primerica from a “buy” rating to a “hold” rating in a report on Thursday, October 19th. They noted that the move was a valuation call. Keefe, Bruyette & Woods restated a “hold” rating and set a $95.00 price objective on shares of Primerica in a report on Friday, November 10th. BidaskClub downgraded Primerica from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. Finally, Zacks Investment Research downgraded Primerica from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $90.50.
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.
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