Wellington Shields Capital Management LLC Invests $204,000 in Primerica, Inc. (NYSE:PRI)

Wellington Shields Capital Management LLC purchased a new position in shares of Primerica, Inc. (NYSE:PRI) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,600 shares of the financial services provider’s stock, valued at approximately $204,000.

Other large investors have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board grew its holdings in shares of Primerica by 16.8% during the second quarter. Canada Pension Plan Investment Board now owns 5,671 shares of the financial services provider’s stock worth $680,000 after purchasing an additional 817 shares during the last quarter. CIBC Asset Management Inc acquired a new position in shares of Primerica in the third quarter worth approximately $201,000. Bank of Montreal Can lifted its stake in shares of Primerica by 7.1% in the second quarter. Bank of Montreal Can now owns 35,616 shares of the financial services provider’s stock worth $4,273,000 after acquiring an additional 2,368 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Primerica by 16.6% in the second quarter. JPMorgan Chase & Co. now owns 275,373 shares of the financial services provider’s stock worth $33,426,000 after acquiring an additional 39,277 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of Primerica by 33.0% in the second quarter. Royal Bank of Canada now owns 50,674 shares of the financial services provider’s stock worth $6,078,000 after acquiring an additional 12,581 shares during the period. Institutional investors own 89.10% of the company’s stock.

In related news, CFO Alison S. Rand sold 2,000 shares of Primerica stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $119.64, for a total value of $239,280.00. Following the transaction, the chief financial officer now directly owns 17,337 shares of the company’s stock, valued at $2,074,198.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Peter W. Schneider sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $119.26, for a total value of $357,780.00. Following the completion of the transaction, the president now directly owns 29,790 shares in the company, valued at $3,552,755.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,000 shares of company stock worth $1,316,880. 0.84% of the stock is owned by insiders.

Shares of Primerica stock traded up $0.72 during midday trading on Tuesday, reaching $129.95. The company had a trading volume of 164,919 shares, compared to its average volume of 229,915. The stock has a fifty day moving average price of $125.45 and a 200 day moving average price of $122.36. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market cap of $5.37 billion, a PE ratio of 17.73 and a beta of 1.36. Primerica, Inc. has a fifty-two week low of $90.28 and a fifty-two week high of $132.17.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $2.26 EPS for the quarter, topping the Zacks’ consensus estimate of $2.14 by $0.12. The company had revenue of $520.60 million for the quarter, compared to analyst estimates of $518.78 million. Primerica had a return on equity of 22.88% and a net margin of 17.90%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.93 earnings per share. As a group, sell-side analysts forecast that Primerica, Inc. will post 8.26 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 20th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Tuesday, November 19th. Primerica’s dividend payout ratio is currently 18.55%.

PRI has been the topic of a number of recent analyst reports. ValuEngine lowered Primerica from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Zacks Investment Research lowered Primerica from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th.

About Primerica

Primerica, Inc, together with its subsidiaries, provides 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.

Read More: Why is the ROA ratio important?

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).

Institutional Ownership by Quarter for Primerica (NYSE:PRI)

Receive News & Ratings for Primerica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primerica and related companies with MarketBeat.com's FREE daily email newsletter.