Primerica, Inc. (NYSE:PRI) Stock Holdings Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 315,629 shares of the financial services provider's stock after selling 5,103 shares during the quarter. Bank of New York Mellon Corp owned about 0.95% of Primerica worth $89,806,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Mariner LLC grew its stake in shares of Primerica by 1.4% during the 4th quarter. Mariner LLC now owns 2,611 shares of the financial services provider's stock valued at $709,000 after buying an additional 36 shares during the period. Oppenheimer Asset Management Inc. grew its position in Primerica by 1.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 3,095 shares of the financial services provider's stock valued at $881,000 after acquiring an additional 44 shares during the period. Assetmark Inc. grew 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 period. Parallel Advisors LLC increased its stake in Primerica by 26.9% during the first quarter. Parallel Advisors LLC now owns 307 shares of the financial services provider's stock worth $87,000 after acquiring an additional 65 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Primerica by 2.8% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,507 shares of the financial services provider's stock worth $681,000 after purchasing an additional 69 shares during the period. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Stock Down 1.4%

Shares of Primerica stock traded down $3.81 on Friday, hitting $263.53. 167,629 shares of the company's stock traded hands, compared to its average volume of 156,098. The stock has a market cap of $8.72 billion, a P/E ratio of 17.72 and a beta of 0.98. Primerica, Inc. has a 52-week low of $230.98 and a 52-week high of $307.91. The firm's 50-day moving average is $268.54 and its 200 day moving average is $274.08.

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

Primerica Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 22nd were given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.58%. The ex-dividend date was Thursday, May 22nd. Primerica's dividend payout ratio is presently 27.98%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley upped their target price on Primerica from $274.00 to $296.00 and gave the stock 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. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $308.00.

Primerica Company 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.