Allianz Asset Management GmbH bought a new position in shares of Primerica, Inc. (NYSE:PRI - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 9,428 shares of the financial services provider's stock, valued at approximately $2,683,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. California Public Employees Retirement System grew its holdings in shares of Primerica by 59.4% during the fourth quarter. California Public Employees Retirement System now owns 111,720 shares of the financial services provider's stock worth $30,323,000 after buying an additional 41,612 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Primerica by 11.4% during the 4th quarter. JPMorgan Chase & Co. now owns 117,308 shares of the financial services provider's stock worth $31,840,000 after purchasing an additional 11,996 shares during the last quarter. World Investment Advisors purchased a new position in Primerica during the fourth quarter worth approximately $1,343,000. Cerity Partners LLC boosted its stake in Primerica by 21.7% during the first quarter. Cerity Partners LLC now owns 5,201 shares of the financial services provider's stock worth $1,480,000 after buying an additional 927 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in Primerica by 69.7% in the 4th quarter. LPL Financial LLC now owns 10,488 shares of the financial services provider's stock valued at $2,847,000 after buying an additional 4,307 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on PRI. Keefe, Bruyette & Woods dropped their price objective on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a report on Wednesday, April 9th. Morgan Stanley upped their price objective on Primerica from $274.00 to $296.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $317.83.
Check Out Our Latest Analysis on PRI
Primerica Price Performance
Shares of PRI stock traded down $6.18 during trading hours on Friday, hitting $259.45. The company had a trading volume of 148,378 shares, compared to its average volume of 170,958. The stock has a market capitalization of $8.59 billion, a PE ratio of 17.45 and a beta of 0.98. The company's fifty day moving average is $266.65 and its 200 day moving average is $273.27. Primerica, Inc. has a fifty-two week low of $230.98 and a fifty-two week high of $307.91.
Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.02 EPS for the quarter, topping the consensus estimate of $4.77 by $0.25. The business had revenue of $803.56 million during the quarter, compared to analyst estimates of $783.54 million. Primerica had a return on equity of 32.30% and a net margin of 15.82%. The company's quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the business posted $3.91 earnings per share. Equities analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.
Primerica Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 22nd were issued a $1.04 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $4.16 dividend on an annualized basis and a yield of 1.6%. Primerica's dividend payout ratio (DPR) is 27.98%.
About Primerica
(
Free Report)
Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.
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