Bank of New York Mellon Corp Decreases Stake in Primerica, Inc. (NYSE:PRI)

Bank of New York Mellon Corp decreased its position in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 1.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 315,629 shares of the financial services provider's stock after selling 5,103 shares during the period. Bank of New York Mellon Corp owned approximately 0.95% of Primerica worth $89,806,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of PRI. Jones Financial Companies Lllp increased its position in Primerica by 163.7% during 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. Victory Capital Management Inc. increased its position in Primerica by 16.5% during the fourth quarter. Victory Capital Management Inc. now owns 46,303 shares of the financial services provider's stock valued at $12,568,000 after acquiring an additional 6,561 shares during the last quarter. Assetmark Inc. increased its position in Primerica by 3.9% during the fourth quarter. Assetmark Inc. now owns 1,518 shares of the financial services provider's stock valued at $412,000 after acquiring an additional 57 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Primerica during the fourth quarter valued at $5,866,000. Finally, Raymond James Financial Inc. bought a new position in Primerica during the fourth quarter valued at $34,191,000. Institutional investors own 90.88% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods cut their price objective on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley upped their price target on shares of Primerica from $274.00 to $296.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Primerica currently has an average rating of "Hold" and a consensus price target of $308.00.

Primerica Price Performance

Shares of PRI stock traded up $2.47 during mid-day trading on Monday, hitting $265.68. 267,899 shares of the stock traded hands, compared to its average volume of 172,582. The stock has a market cap of $8.79 billion, a P/E ratio of 17.87 and a beta of 0.98. The stock's fifty day moving average is $268.54 and its two-hundred day moving average is $274.11. Primerica, Inc. has a 52-week low of $230.98 and a 52-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, beating 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 net margin of 15.82% and a return on equity of 32.30%. The company's quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.91 earnings per share. As a group, equities analysts forecast that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 22nd were given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Thursday, May 22nd. Primerica's payout ratio is currently 27.98%.

Primerica Profile

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.