Hsbc Holdings PLC Acquires 299 Shares of Primerica, Inc. (PRI)

Hsbc Holdings PLC raised its position in Primerica, Inc. (NYSE:PRI) by 4.1% during the third quarter, Holdings Channel reports. The institutional investor owned 7,591 shares of the company’s stock after buying an additional 299 shares during the period. Hsbc Holdings PLC’s holdings in Primerica were worth $403,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Legal & General Group Plc increased its position in Primerica by 8.6% in the second quarter. Legal & General Group Plc now owns 32,276 shares of the company’s stock worth $1,838,000 after buying an additional 2,565 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Primerica by 0.8% in the second quarter. Metropolitan Life Insurance Co. NY now owns 77,477 shares of the company’s stock valued at $4,435,000 after buying an additional 639 shares during the period. Numeric Investors LLC purchased a new stake in shares of Primerica during the second quarter valued at about $298,000. FDx Advisors Inc. increased its stake in shares of Primerica by 4.7% in the second quarter. FDx Advisors Inc. now owns 25,995 shares of the company’s stock valued at $1,488,000 after buying an additional 1,167 shares during the period. Finally, Lebenthal Asset Management LLC purchased a new stake in shares of Primerica during the second quarter valued at about $2,609,000.

Institutional Ownership by Quarter for Primerica (NYSE:PRI)

Primerica, Inc. (NYSE:PRI) traded up 2.68% on Friday, reaching $80.50. 739,643 shares of the company’s stock traded hands. The company’s 50 day moving average is $73.52 and its 200-day moving average is $62.76. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 18.54 and a beta of 1.15. Primerica, Inc. has a 52-week low of $40.32 and a 52-week high of $80.95.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, February 8th. The company reported $1.19 EPS for the quarter, hitting the consensus estimate of $1.19. The company earned $393.90 million during the quarter, compared to the consensus estimate of $386.46 million. Primerica had a net margin of 14.44% and a return on equity of 17.98%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 earnings per share. Equities analysts expect that Primerica, Inc. will post $5.10 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 17th. Stockholders of record on Monday, February 20th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, February 15th. This is an increase from Primerica’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 0.94%. Primerica’s payout ratio is presently 15.72%.

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Several brokerages recently issued reports on PRI. Zacks Investment Research upgraded shares of Primerica from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research note on Friday, January 13th. Citigroup Inc. began coverage on shares of Primerica in a research note on Thursday, January 26th. They issued a “neutral” rating and a $76.00 target price for the company. Finally, SunTrust Banks, Inc. set a $83.00 target price on shares of Primerica and gave the company a “buy” rating in a research note on Friday, November 11th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $75.00.

In other news, insider William A. Kelly sold 1,500 shares of the business’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $71.49, for a total transaction of $107,235.00. Following the completion of the sale, the insider now directly owns 20,630 shares of the company’s stock, valued at $1,474,838.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider William A. Kelly sold 2,500 shares of the business’s stock in a transaction dated Thursday, January 5th. The stock was sold at an average price of $70.90, for a total transaction of $177,250.00. Following the sale, the insider now directly owns 18,130 shares of the company’s stock, valued at $1,285,417. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,000 shares of company stock valued at $427,785. 1.24% of the stock is currently owned by insiders.

Primerica Company Profile

Primerica Inc (Primerica) distributes financial products to middle-income households. The Company operates through three segments. 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.

5 Day Chart for NYSE:PRI

Want to see what other hedge funds are holding PRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Primerica, Inc. (NYSE:PRI).

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