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

Envestnet Portfolio Solutions Inc. lowered its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 48.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 3,743 shares of the financial services provider's stock after selling 3,543 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Primerica were worth $1,065,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PRI. Colonial Trust Co SC purchased a new stake in Primerica in the 4th quarter worth approximately $25,000. True Wealth Design LLC purchased a new stake in Primerica in the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC lifted its holdings in Primerica by 129.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider's stock worth $34,000 after buying an additional 71 shares during the period. Venturi Wealth Management LLC lifted its holdings in Primerica by 116.2% in the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider's stock worth $58,000 after buying an additional 115 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in Primerica by 182.2% in the 4th quarter. Bessemer Group Inc. now owns 254 shares of the financial services provider's stock worth $69,000 after buying an additional 164 shares during the period. Hedge funds and other institutional investors own 90.88% of the company's stock.

Primerica Stock Up 1.0%

Shares of NYSE:PRI traded up $2.74 during trading on Friday, hitting $268.30. The stock had a trading volume of 265,777 shares, compared to its average volume of 153,766. Primerica, Inc. has a 12 month low of $230.98 and a 12 month high of $307.91. The company has a market capitalization of $8.88 billion, a PE ratio of 18.04 and a beta of 0.99. The firm's fifty day moving average is $265.95 and its 200 day moving average is $274.20.

Primerica (NYSE:PRI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $783.54 million. During the same quarter in the prior year, the company earned $3.91 EPS. The business's revenue was up 8.3% compared to the same quarter last year. Equities research analysts expect 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 dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Thursday, May 22nd. Primerica's dividend payout ratio (DPR) is presently 27.98%.

Analysts Set New Price Targets

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

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.