Envestnet Portfolio Solutions Inc. Sells 3,543 Shares of Primerica, Inc. (NYSE:PRI)

Envestnet Portfolio Solutions Inc. decreased its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 48.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,743 shares of the financial services provider's stock after selling 3,543 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Primerica were worth $1,065,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PRI. California Public Employees Retirement System lifted its stake in Primerica by 59.4% in the fourth quarter. California Public Employees Retirement System now owns 111,720 shares of the financial services provider's stock valued at $30,323,000 after acquiring an additional 41,612 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of Primerica by 10.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider's stock valued at $32,573,000 after purchasing an additional 11,612 shares during the period. JPMorgan Chase & Co. lifted its stake in Primerica by 11.4% in the 4th quarter. JPMorgan Chase & Co. now owns 117,308 shares of the financial services provider's stock valued at $31,840,000 after purchasing an additional 11,996 shares during the last quarter. Callan Family Office LLC grew its holdings in Primerica by 273.8% during the fourth quarter. Callan Family Office LLC now owns 5,024 shares of the financial services provider's stock worth $1,364,000 after purchasing an additional 3,680 shares during the period. Finally, World Investment Advisors bought a new position in Primerica during the fourth quarter worth about $1,343,000. Institutional investors and hedge funds own 90.88% of the company's stock.

Primerica Stock Performance

Shares of NYSE PRI traded down $4.69 during trading hours on Wednesday, reaching $263.89. 377,714 shares of the stock were exchanged, compared to its average volume of 155,717. The firm has a market capitalization of $8.73 billion, a price-to-earnings ratio of 17.75 and a beta of 0.99. The stock's fifty day simple moving average is $265.26 and its 200 day simple moving average is $274.57. 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 posted its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share for the quarter, topping the consensus estimate 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 EPS. The company's quarterly revenue was up 8.3% compared to the same quarter last year. Research analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors 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 yield of 1.58%. The ex-dividend date was Thursday, May 22nd. Primerica's dividend payout ratio is 27.98%.

Wall Street Analyst Weigh In

PRI has been the topic of several research analyst reports. Keefe, Bruyette & Woods dropped their price objective on Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley increased their price target on Primerica from $274.00 to $296.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $308.00.

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.