Pallas Capital Advisors LLC Takes $280,000 Position in Primerica, Inc. (NYSE:PRI)

Pallas Capital Advisors LLC purchased a new stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 983 shares of the financial services provider's stock, valued at approximately $280,000.

Other institutional investors have also added to or reduced their stakes in the company. Mariner LLC lifted its stake in shares of Primerica by 1.4% in the 4th quarter. Mariner LLC now owns 2,611 shares of the financial services provider's stock valued at $709,000 after purchasing an additional 36 shares during the period. Dana Investment Advisors Inc. lifted its stake in Primerica by 1.2% in the fourth quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider's stock valued at $1,012,000 after buying an additional 45 shares during the period. CIBC Asset Management Inc lifted its stake in Primerica by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 1,108 shares of the financial services provider's stock valued at $301,000 after buying an additional 54 shares during the period. Assetmark Inc. boosted its holdings in shares of Primerica by 3.9% during the 4th quarter. Assetmark Inc. now owns 1,518 shares of the financial services provider's stock worth $412,000 after buying an additional 57 shares in the last quarter. Finally, Everhart Financial Group Inc. grew its position in shares of Primerica by 2.5% during the 4th quarter. Everhart Financial Group Inc. now owns 2,676 shares of the financial services provider's stock worth $726,000 after buying an additional 65 shares during the period. 90.88% of the stock is currently owned by institutional investors.

Primerica Trading Down 1.3%

NYSE PRI traded down $3.48 during mid-day trading on Tuesday, hitting $257.18. The company's stock had a trading volume of 171,303 shares, compared to its average volume of 156,726. The firm has a market capitalization of $8.51 billion, a price-to-earnings ratio of 17.30 and a beta of 0.99. The company's 50 day simple moving average is $264.49 and its 200 day simple moving average is $275.77. Primerica, Inc. has a twelve month low of $227.54 and a twelve month high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.77 by $0.25. Primerica had a net margin of 15.82% and a return on equity of 32.30%. The firm had revenue of $803.56 million during the quarter, compared to analysts' expectations of $783.54 million. During the same period last year, the company earned $3.91 earnings per share. The business's revenue was up 8.3% on a year-over-year basis. As a group, research analysts forecast that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 22nd were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Thursday, May 22nd. Primerica's dividend payout ratio is currently 27.98%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PRI. Morgan Stanley boosted their target price 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. Keefe, Bruyette & Woods dropped 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. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $308.00.

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.