Primerica, Inc. (PRI) Stake Lowered by California State Teachers Retirement System

California State Teachers Retirement System trimmed its position in shares of Primerica, Inc. (NYSE:PRI) by 9.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 72,984 shares of the financial services provider’s stock after selling 7,807 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of Primerica worth $5,952,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of PRI. Koch Industries Inc. purchased a new stake in shares of Primerica during the second quarter worth approximately $237,000. Macquarie Group Ltd. increased its position in shares of Primerica by 25.2% during the second quarter. Macquarie Group Ltd. now owns 585,073 shares of the financial services provider’s stock worth $44,319,000 after purchasing an additional 117,739 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Primerica by 19.2% during the second quarter. Voya Investment Management LLC now owns 548,220 shares of the financial services provider’s stock worth $41,528,000 after purchasing an additional 88,376 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Primerica by 2.4% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,508,400 shares of the financial services provider’s stock worth $286,111,000 after purchasing an additional 81,603 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Primerica by 8.0% during the second quarter. Goldman Sachs Group Inc. now owns 927,674 shares of the financial services provider’s stock worth $70,272,000 after purchasing an additional 69,063 shares in the last quarter. Hedge funds and other institutional investors own 95.89% of the company’s stock.

Shares of Primerica, Inc. (PRI) opened at $101.55 on Monday. The stock has a market capitalization of $4,493.39, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 1.89 and a beta of 1.24. Primerica, Inc. has a twelve month low of $68.90 and a twelve month high of $106.40.

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

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, November 17th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.79%. The ex-dividend date was Thursday, November 16th. Primerica’s payout ratio is currently 15.56%.

Several analysts recently commented on PRI shares. SunTrust Banks cut 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. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $95.00 price target on shares of Primerica in a research report on Friday, November 10th. ValuEngine upgraded Primerica from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Zacks Investment Research upgraded Primerica from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a research report on Wednesday, October 11th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $90.50.

In other Primerica news, VP Gregory C. Pitts sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $92.40, for a total value of $462,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.86% of the stock is owned by corporate insiders.

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Primerica 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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Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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