Lecap Asset Management Ltd. Takes $1.03 Million Position in Primerica, Inc. (NYSE:PRI)

Lecap Asset Management Ltd. acquired a new stake in Primerica, Inc. (NYSE:PRI - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 3,614 shares of the financial services provider's stock, valued at approximately $1,028,000.

Other hedge funds have also bought and sold shares of the company. California Public Employees Retirement System boosted its holdings in shares of 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 worth $30,323,000 after acquiring an additional 41,612 shares during the period. Los Angeles Capital Management LLC raised its stake in shares of Primerica by 10.7% during 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 holdings in Primerica by 11.4% during the 4th quarter. JPMorgan Chase & Co. now owns 117,308 shares of the financial services provider's stock worth $31,840,000 after purchasing an additional 11,996 shares in the last quarter. Callan Family Office LLC boosted its stake in Primerica by 273.8% in the 4th 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 in the 4th quarter worth about $1,343,000. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Primerica Trading Up 1.0%

Shares of NYSE PRI traded up $2.74 during midday trading on Friday, hitting $268.30. 265,777 shares of the company's stock were exchanged, compared to its average volume of 155,995. The business's fifty day moving average price is $265.66 and its two-hundred day moving average price is $274.35. The company has a market cap of $8.88 billion, a price-to-earnings ratio of 18.04 and a beta of 0.99. Primerica, Inc. has a 12-month low of $230.98 and a 12-month 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 (EPS) 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 analyst estimates of $783.54 million. Primerica had a net margin of 15.82% and a return on equity of 32.30%. Primerica's revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the business posted $3.91 earnings per share. Equities analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 22nd were given a $1.04 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $4.16 annualized dividend and a yield of 1.55%. Primerica's dividend payout ratio (DPR) is presently 27.98%.

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.