Inspire Advisors LLC Invests $435,000 in Primerica, Inc. (NYSE:PRI)

Key Points

• Inspire Advisors LLC has acquired 1,527 shares of Primerica, Inc. valued at approximately $435,000 during the first quarter, marking a new investment in the financial services sector.
• Primerica reported a quarterly earnings per share of $5.02, exceeding estimates and indicating a year-over-year revenue growth of 8.3%.
• The company announced a quarterly dividend of $1.04 per share, with an annualized yield of 1.56% and a payout ratio of 27.98%.

Inspire Advisors LLC purchased a new position in Primerica, Inc. (NYSE:PRI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,527 shares of the financial services provider's stock, valued at approximately $435,000.

Several other institutional investors have also added to or reduced their stakes in the business. Colonial Trust Co SC purchased a new stake in Primerica in the fourth quarter valued at approximately $25,000. True Wealth Design LLC purchased a new stake in Primerica in the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC boosted its position in Primerica by 105.7% in the first quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider's stock valued at $72,000 after buying an additional 130 shares during the last quarter. Bessemer Group Inc. boosted its position in Primerica by 182.2% in the fourth quarter. Bessemer Group Inc. now owns 254 shares of the financial services provider's stock valued at $69,000 after buying an additional 164 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Primerica by 26.9% in the first quarter. Parallel Advisors LLC now owns 307 shares of the financial services provider's stock valued at $87,000 after acquiring an additional 65 shares during the period. Institutional investors and hedge funds own 90.88% of the company's stock.

Primerica Stock Down 2.2%

Shares of PRI stock traded down $5.90 during trading hours on Friday, hitting $259.74. 46,389 shares of the company's stock were exchanged, compared to its average volume of 170,235. The firm has a market cap of $8.59 billion, a P/E ratio of 17.47 and a beta of 0.98. The firm has a 50 day moving average of $266.65 and a two-hundred day moving average of $273.27. Primerica, Inc. has a fifty-two week low of $230.98 and a fifty-two week high of $307.91.

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 for the quarter, topping 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 32.30% and a net margin of 15.82%. The business's quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the company posted $3.91 EPS. On average, equities analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Announces Dividend

The company 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 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Thursday, May 22nd. Primerica's payout ratio is presently 27.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PRI shares. Keefe, Bruyette & Woods decreased their price target on Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a report on Wednesday, April 9th. Morgan Stanley boosted their price target on Primerica from $274.00 to $296.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $317.83.

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.