New Age Alpha Advisors LLC bought a new position in shares of Primerica, Inc. (NYSE:PRI - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 6,756 shares of the financial services provider's stock, valued at approximately $1,922,000.
A number of other institutional investors have also added to or reduced their stakes in PRI. LPL Financial LLC boosted its stake in shares of Primerica by 69.7% during the fourth quarter. LPL Financial LLC now owns 10,488 shares of the financial services provider's stock valued at $2,847,000 after purchasing an additional 4,307 shares in the last quarter. Norges Bank purchased a new stake in Primerica during the fourth quarter worth $1,906,000. Franklin Resources Inc. boosted its position in Primerica by 100.1% during the 4th quarter. Franklin Resources Inc. now owns 26,680 shares of the financial services provider's stock valued at $7,241,000 after acquiring an additional 13,348 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Primerica by 6.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 104,945 shares of the financial services provider's stock valued at $28,484,000 after acquiring an additional 5,938 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Primerica in the 4th quarter valued at $99,000. Hedge funds and other institutional investors own 90.88% of the company's stock.
Primerica Price Performance
Shares of PRI stock opened at $266.63 on Thursday. The stock's fifty day moving average price is $266.31 and its 200 day moving average price is $272.69. Primerica, Inc. has a 1-year low of $230.98 and a 1-year high of $307.91. The company has a market cap of $8.82 billion, a price-to-earnings ratio of 17.93 and a beta of 0.99.
Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share for the quarter, topping the consensus estimate of $5.18 by $0.28. Primerica had a return on equity of 32.30% and a net margin of 15.82%. The business had revenue of $796.02 million during the quarter, compared to the consensus estimate of $790.99 million. During the same quarter last year, the company earned $4.71 earnings per share. The company's quarterly revenue was up .3% on a year-over-year basis. As a group, equities research analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on PRI shares. Keefe, Bruyette & Woods dropped their price objective on Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley increased their price target on shares of Primerica from $274.00 to $296.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $317.83.
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About Primerica
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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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