Artemis Investment Management LLP Has $12.98 Million Stock Holdings in Primerica, Inc. (NYSE:PRI)

Artemis Investment Management LLP boosted its position in Primerica, Inc. (NYSE:PRI - Free Report) by 136.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,604 shares of the financial services provider's stock after acquiring an additional 26,312 shares during the period. Artemis Investment Management LLP owned 0.14% of Primerica worth $12,976,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PRI. Atria Wealth Solutions Inc. boosted its holdings in Primerica by 41.7% in the fourth quarter. Atria Wealth Solutions Inc. now owns 1,148 shares of the financial services provider's stock valued at $312,000 after acquiring an additional 338 shares during the last quarter. IFP Advisors Inc boosted its holdings in Primerica by 7.1% in the fourth quarter. IFP Advisors Inc now owns 1,164 shares of the financial services provider's stock valued at $316,000 after acquiring an additional 77 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Primerica in the fourth quarter valued at about $5,866,000. SVB Wealth LLC bought a new position in Primerica in the fourth quarter valued at about $10,703,000. Finally, Jones Financial Companies Lllp boosted its holdings in Primerica by 163.7% in the fourth quarter. Jones Financial Companies Lllp now owns 981 shares of the financial services provider's stock valued at $266,000 after acquiring an additional 609 shares during the last quarter. Institutional investors own 90.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods decreased their price target on Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a report on Wednesday, April 9th. Morgan Stanley raised their target price on Primerica from $274.00 to $296.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Primerica has a consensus rating of "Hold" and a consensus price target of $308.00.

Primerica Stock Performance

PRI traded up $2.74 during midday trading on Friday, reaching $268.30. 265,777 shares of the company were exchanged, compared to its average volume of 155,995. Primerica, Inc. has a one year low of $230.98 and a one year high of $307.91. The stock has a market capitalization of $8.88 billion, a P/E ratio of 18.04 and a beta of 0.99. The stock's 50-day simple moving average is $265.95 and its 200 day simple moving average is $274.26.

Primerica (NYSE:PRI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.77 by $0.25. Primerica had a return on equity of 32.30% and a net margin of 15.82%. The firm had revenue of $803.56 million for the quarter, compared to analysts' expectations of $783.54 million. During the same quarter last year, the business earned $3.91 earnings per share. The company's revenue was up 8.3% compared to the same quarter last year. On average, research analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 22nd were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Thursday, May 22nd. Primerica's dividend payout ratio is currently 27.98%.

About Primerica

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.