Harbor Capital Advisors Inc. raised its holdings in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 35.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,242 shares of the financial services provider's stock after acquiring an additional 4,266 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Primerica were worth $4,621,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in PRI. Burgundy Asset Management Ltd. grew its stake in Primerica by 1.7% in the 4th quarter. Burgundy Asset Management Ltd. now owns 1,288,473 shares of the financial services provider's stock worth $349,717,000 after acquiring an additional 21,208 shares during the period. Geode Capital Management LLC grew its stake in Primerica by 11.9% in the 4th quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider's stock worth $211,691,000 after acquiring an additional 82,921 shares during the period. GAMMA Investing LLC grew its stake in Primerica by 39,199.5% in the 1st quarter. GAMMA Investing LLC now owns 443,298 shares of the financial services provider's stock worth $126,132,000 after acquiring an additional 442,170 shares during the period. Northern Trust Corp grew its stake in Primerica by 15.6% in the 4th quarter. Northern Trust Corp now owns 347,040 shares of the financial services provider's stock worth $94,194,000 after acquiring an additional 46,935 shares during the period. Finally, Fuller & Thaler Asset Management Inc. grew its stake in Primerica by 1.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 230,736 shares of the financial services provider's stock worth $62,626,000 after acquiring an additional 2,905 shares during the period. 90.88% of the stock is currently owned by hedge funds and other institutional investors.
Primerica Stock Up 0.4%
Shares of PRI traded up $1.04 during midday trading on Thursday, hitting $260.74. The company had a trading volume of 164,578 shares, compared to its average volume of 156,447. The company's 50 day moving average price is $264.00 and its 200 day moving average price is $276.91. The stock has a market cap of $8.63 billion, a price-to-earnings ratio of 18.96 and a beta of 0.99. Primerica, Inc. has a 52 week low of $219.52 and a 52 week high of $307.91.
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. Primerica had a net margin of 15.14% and a return on equity of 31.11%. The business had revenue of $803.56 million during the quarter, compared to the consensus estimate of $783.54 million. During the same quarter in the prior year, the firm earned $3.91 EPS. The company's revenue for the quarter was up 8.3% compared to the same quarter last year. Equities analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current fiscal year.
Primerica Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 22nd will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Thursday, May 22nd. Primerica's dividend payout ratio (DPR) is 27.98%.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on PRI. Morgan Stanley boosted their price objective on shares of Primerica from $274.00 to $296.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Keefe, Bruyette & Woods lowered their price objective on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research note on Wednesday, April 9th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $308.00.
View Our Latest Research Report on PRI
About Primerica
(
Free Report)
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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