Chicago Equity Partners LLC acquired a new position in shares of Primerica, Inc. (NYSE:PRI) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 28,465 shares of the financial services provider’s stock, valued at approximately $2,781,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cantillon Capital Management LLC raised its holdings in Primerica by 0.8% in the 4th quarter. Cantillon Capital Management LLC now owns 944,514 shares of the financial services provider’s stock valued at $92,288,000 after buying an additional 7,204 shares during the period. LS Investment Advisors LLC raised its holdings in Primerica by 8.4% in the 4th quarter. LS Investment Advisors LLC now owns 3,601 shares of the financial services provider’s stock valued at $352,000 after buying an additional 278 shares during the period. TD Asset Management Inc. raised its holdings in Primerica by 2.5% in the 4th quarter. TD Asset Management Inc. now owns 4,532 shares of the financial services provider’s stock valued at $443,000 after buying an additional 110 shares during the period. Dupont Capital Management Corp raised its holdings in Primerica by 19.2% in the 4th quarter. Dupont Capital Management Corp now owns 34,792 shares of the financial services provider’s stock valued at $3,400,000 after buying an additional 5,603 shares during the period. Finally, Rhumbline Advisers raised its holdings in Primerica by 60.4% in the 4th quarter. Rhumbline Advisers now owns 137,482 shares of the financial services provider’s stock valued at $13,433,000 after buying an additional 51,778 shares during the period. 93.52% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently issued reports on PRI shares. Credit Suisse Group started coverage on shares of Primerica in a report on Friday, January 18th. They issued an “outperform” rating and a $135.00 price objective on the stock. Zacks Investment Research upgraded shares of Primerica from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a report on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $117.83.
Primerica (NYSE:PRI) last released its earnings results on Thursday, February 7th. The financial services provider reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.13. The company had revenue of $487.33 million during the quarter, compared to the consensus estimate of $486.75 million. Primerica had a return on equity of 22.63% and a net margin of 17.06%. Primerica’s revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.60 EPS. Equities research analysts anticipate that Primerica, Inc. will post 8.08 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Wednesday, February 20th will be given a $0.34 dividend. This is an increase from Primerica’s previous quarterly dividend of $0.25. This represents a $1.36 annualized dividend and a yield of 1.15%. The ex-dividend date is Tuesday, February 19th. Primerica’s payout ratio is currently 13.64%.
Primerica declared that its board has authorized a stock repurchase plan on Thursday, February 7th that permits the company to repurchase $275.00 million in shares. This repurchase authorization permits the financial services provider to repurchase up to 5.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In other Primerica news, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction dated Friday, November 30th. The stock was sold at an average price of $119.80, for a total value of $239,600.00. Following the completion of the transaction, the president now directly owns 28,647 shares of the company’s stock, valued at approximately $3,431,910.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.89% of the company’s stock.
Primerica Company Profile
Primerica, Inc, together with its subsidiaries, distributes financial products to middle income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.
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