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

Pallas Capital Advisors LLC bought a new position in Primerica, Inc. (NYSE:PRI - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 983 shares of the financial services provider's stock, valued at approximately $280,000.

A number of other large investors also recently added to or reduced their stakes in PRI. Colonial Trust Co SC bought a new stake in shares of Primerica during the 4th quarter valued at about $25,000. True Wealth Design LLC bought a new stake in shares of Primerica during the 4th quarter valued at about $27,000. EverSource Wealth Advisors LLC boosted its stake in shares of Primerica by 129.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 71 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Primerica by 116.2% during the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider's stock valued at $58,000 after purchasing an additional 115 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Primerica by 182.2% during the 4th quarter. Bessemer Group Inc. now owns 254 shares of the financial services provider's stock valued at $69,000 after purchasing an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.

Primerica Stock Down 1.3%

Primerica stock traded down $3.41 during trading hours on Friday, hitting $257.75. The stock had a trading volume of 147,469 shares, compared to its average volume of 156,607. The stock has a market capitalization of $8.53 billion, a P/E ratio of 18.75 and a beta of 0.99. Primerica, Inc. has a 12-month low of $219.52 and a 12-month high of $307.91. The stock's 50-day moving average price is $264.27 and its 200-day moving average price is $276.59.

Primerica (NYSE:PRI - Get Free Report) last issued 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. The business had revenue of $803.56 million during the quarter, compared to analysts' expectations of $783.54 million. Primerica had a net margin of 15.14% and a return on equity of 31.11%. The business's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.91 earnings per share. On average, research analysts expect that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Announces Dividend

The company also recently announced 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 of this dividend was Thursday, May 22nd. This represents a $4.16 annualized dividend and a yield of 1.61%. Primerica's dividend payout ratio (DPR) is presently 27.98%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PRI. Morgan Stanley lifted their target price 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 lowered their price target on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research report on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus 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.