Primerica, Inc. (NYSE:PRI) Shares Sold by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC reduced its stake in Primerica, Inc. by 1.6% during the first quarter, selling 1,804 shares, while still owning 108,218 shares valued at approximately $30.79 million.
• Primerica's recent quarterly earnings exceeded analyst expectations, reporting $5.02 EPS and an 8.3% increase in revenue year-over-year, amounting to $803.56 million.
• The company declared a quarterly dividend of $1.04 per share, resulting in an annualized yield of 1.6% and a payout ratio of 27.98%.

Natixis Advisors LLC lowered its position in Primerica, Inc. (NYSE:PRI - Free Report) by 1.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 108,218 shares of the financial services provider's stock after selling 1,804 shares during the period. Natixis Advisors LLC owned about 0.33% of Primerica worth $30,791,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PRI. Vestcor Inc raised its holdings in Primerica by 1.7% in the 1st quarter. Vestcor Inc now owns 5,196 shares of the financial services provider's stock worth $1,478,000 after purchasing an additional 87 shares during the period. Banque Cantonale Vaudoise purchased a new stake in shares of Primerica in the first quarter valued at approximately $602,000. Picton Mahoney Asset Management purchased a new stake in shares of Primerica in the first quarter valued at approximately $1,095,000. Maridea Wealth Management LLC acquired a new position in shares of Primerica during the 1st quarter worth approximately $456,000. Finally, Mackenzie Financial Corp acquired a new position in shares of Primerica during the 1st quarter worth approximately $1,330,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Stock Performance

Shares of PRI traded down $6.18 during trading hours on Friday, hitting $259.45. 148,378 shares of the stock were exchanged, compared to its average volume of 152,564. The stock's 50-day moving average price is $266.65 and its two-hundred day moving average price is $273.27. Primerica, Inc. has a 12-month low of $230.98 and a 12-month high of $307.91. The company has a market cap of $8.59 billion, a price-to-earnings ratio of 17.45 and a beta of 0.99.

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, topping the consensus estimate of $4.77 by $0.25. Primerica had a net margin of 15.82% and a return on equity of 32.30%. The company had revenue of $803.56 million for the quarter, compared to analysts' expectations of $783.54 million. During the same quarter in the previous year, the company posted $3.91 EPS. The firm's quarterly revenue was up 8.3% on a year-over-year basis. On average, research analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 22nd were issued a $1.04 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $4.16 dividend on an annualized basis and a yield of 1.6%. Primerica's dividend payout ratio is presently 27.98%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PRI. Morgan Stanley lifted their price target 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 decreased their price objective 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. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $317.83.

Primerica 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.