Bank of New York Mellon Corp Cuts Stock Position in Primerica, Inc. (NYSE:PRI)

Bank of New York Mellon Corp lowered its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 1.6% during the 1st quarter, according to its most recent 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 0.95% of Primerica worth $89,806,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. World Investment Advisors grew its stake in shares of Primerica by 1.8% in the 1st quarter. World Investment Advisors now owns 5,038 shares of the financial services provider's stock worth $1,433,000 after buying an additional 89 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake in shares of Primerica by 9.9% in the 1st quarter. OneDigital Investment Advisors LLC now owns 5,678 shares of the financial services provider's stock worth $1,616,000 after buying an additional 512 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Primerica by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 76,780 shares of the financial services provider's stock worth $21,846,000 after buying an additional 283 shares during the last quarter. Mutual Advisors LLC grew its stake in shares of Primerica by 10.8% in the 1st quarter. Mutual Advisors LLC now owns 1,545 shares of the financial services provider's stock worth $404,000 after buying an additional 151 shares during the last quarter. Finally, Summit Trail Advisors LLC grew its stake in shares of Primerica by 4.3% in the 1st quarter. Summit Trail Advisors LLC now owns 1,840 shares of the financial services provider's stock worth $524,000 after buying an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on PRI. Keefe, Bruyette & Woods lowered their price objective on 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 objective on Primerica from $274.00 to $296.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Primerica currently has an average rating of "Hold" and an average target price of $308.00.

Primerica Price Performance

NYSE PRI opened at $267.42 on Friday. The stock has a market capitalization of $8.85 billion, a price-to-earnings ratio of 17.98 and a beta of 0.98. Primerica, Inc. has a 1-year low of $230.98 and a 1-year high of $307.91. The business's fifty day moving average price is $268.58 and its 200-day moving average price is $274.14.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly 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. The firm had revenue of $803.56 million for the quarter, compared to the consensus estimate of $783.54 million. Primerica had a return on equity of 32.30% and a net margin of 15.82%. The company's revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the business posted $3.91 EPS. Equities research analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 22nd were paid a $1.04 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.56%. Primerica's dividend payout ratio (DPR) 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.

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