Primerica, Inc. (NYSE:PRI) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. cut its holdings in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 22.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,121 shares of the financial services provider's stock after selling 1,208 shares during the period. First Citizens Bank & Trust Co.'s holdings in Primerica were worth $1,173,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Mariner LLC increased its stake in Primerica by 1.4% during the fourth quarter. Mariner LLC now owns 2,611 shares of the financial services provider's stock worth $709,000 after purchasing an additional 36 shares during the period. Dana Investment Advisors Inc. increased its stake in shares of Primerica by 1.2% during the fourth quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider's stock worth $1,012,000 after buying an additional 45 shares during the period. CIBC Asset Management Inc increased its stake in shares of Primerica by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 1,108 shares of the financial services provider's stock worth $301,000 after buying an additional 54 shares during the period. Assetmark Inc. increased its stake in shares of Primerica by 3.9% during the fourth quarter. Assetmark Inc. now owns 1,518 shares of the financial services provider's stock worth $412,000 after buying an additional 57 shares during the period. Finally, Everhart Financial Group Inc. increased its stake in shares of Primerica by 2.5% during the fourth quarter. Everhart Financial Group Inc. now owns 2,676 shares of the financial services provider's stock worth $726,000 after buying an additional 65 shares during the period. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Primerica Stock Down 1.3%

Primerica stock traded down $3.41 during mid-day trading on Friday, hitting $257.75. The company had a trading volume of 147,469 shares, compared to its average volume of 156,607. The stock has a market cap of $8.53 billion, a price-to-earnings ratio of 18.75 and a beta of 0.99. Primerica, Inc. has a 1 year low of $219.52 and a 1 year high of $307.91. The business has a fifty day moving average of $264.00 and a 200 day moving average of $276.91.

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, beating the consensus estimate 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 return on equity of 31.11% and a net margin of 15.14%. The company's revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.91 earnings per share. Equities analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 22nd will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Thursday, May 22nd. Primerica's payout ratio is currently 27.98%.

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.