Maridea Wealth Management LLC Invests $456,000 in Primerica, Inc. (NYSE:PRI)

Key Points

• Maridea Wealth Management LLC has acquired a new stake in Primerica, Inc., purchasing 1,601 shares valued at approximately $456,000 during the first quarter.
• Primerica's recent earnings report showed an EPS of $5.02, surpassing analysts' expectations, with a revenue of approximately $803.56 million for the quarter.
• The company declared a quarterly dividend of $1.04 per share, resulting in an annualized dividend yield of 1.57%.

Maridea Wealth Management LLC acquired a new stake in Primerica, Inc. (NYSE:PRI - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,601 shares of the financial services provider's stock, valued at approximately $456,000.

A number of other large investors also recently made changes to their positions in PRI. GAMMA Investing LLC lifted its position in shares of Primerica by 39,199.5% during the first quarter. GAMMA Investing LLC now owns 443,298 shares of the financial services provider's stock valued at $126,132,000 after purchasing an additional 442,170 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Primerica during the fourth quarter valued at about $34,191,000. AQR Capital Management LLC lifted its position in shares of Primerica by 254.5% during the fourth quarter. AQR Capital Management LLC now owns 116,271 shares of the financial services provider's stock valued at $31,558,000 after purchasing an additional 83,477 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Primerica by 11.9% during the fourth quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider's stock valued at $211,691,000 after purchasing an additional 82,921 shares in the last quarter. Finally, FIL Ltd increased its holdings in Primerica by 85.5% during the fourth quarter. FIL Ltd now owns 131,365 shares of the financial services provider's stock worth $35,655,000 after buying an additional 60,565 shares during the last quarter. 90.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PRI has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods decreased their price objective on shares of 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 raised their price objective on shares of Primerica from $274.00 to $296.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Five research 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, Primerica presently has an average rating of "Hold" and an average price target of $317.83.

Primerica Price Performance

Shares of PRI traded up $5.41 during trading hours on Thursday, hitting $267.28. The company's stock had a trading volume of 63,863 shares, compared to its average volume of 170,083. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 17.96 and a beta of 0.98. The business has a 50 day simple moving average of $266.70 and a two-hundred day simple moving average of $273.33. Primerica, Inc. has a 52-week low of $230.98 and a 52-week high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last posted 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 firm had revenue of $803.56 million during the quarter, compared to the consensus estimate of $783.54 million. Primerica had a net margin of 15.82% and a return on equity of 32.30%. The company's revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company earned $3.91 earnings per share. Research analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 22nd were paid a $1.04 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $4.16 annualized dividend and a dividend yield of 1.56%. Primerica's payout ratio is 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.