3,844 Shares in Primerica, Inc. (NYSE:PRI) Purchased by Picton Mahoney Asset Management

Key Points

• Picton Mahoney Asset Management invested approximately $1.10 million in Primerica, Inc., acquiring 3,844 shares during the first quarter.
• Multiple institutional investors increased their stakes in Primerica, leading to institutional ownership of 90.88% of the company's stock.
• Primerica recently announced a quarterly dividend of $1.04 per share, with an annualized yield of 1.59%.

Picton Mahoney Asset Management acquired a new position in shares of Primerica, Inc. (NYSE:PRI - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,844 shares of the financial services provider's stock, valued at approximately $1,095,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Mariner LLC raised its holdings in shares of Primerica by 1.4% during the fourth quarter. Mariner LLC now owns 2,611 shares of the financial services provider's stock worth $709,000 after acquiring an additional 36 shares during the period. HB Wealth Management LLC increased its stake in Primerica by 1.9% in the 1st quarter. HB Wealth Management LLC now owns 2,088 shares of the financial services provider's stock valued at $594,000 after buying an additional 38 shares during the last quarter. Applied Finance Capital Management LLC increased its stake in Primerica by 5.3% in the 1st quarter. Applied Finance Capital Management LLC now owns 839 shares of the financial services provider's stock valued at $239,000 after buying an additional 42 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in Primerica by 1.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,095 shares of the financial services provider's stock valued at $881,000 after buying an additional 44 shares during the last quarter. Finally, Xponance Inc. increased its stake in Primerica by 1.2% in the 1st quarter. Xponance Inc. now owns 3,945 shares of the financial services provider's stock valued at $1,122,000 after buying an additional 47 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PRI has been the topic of several recent research reports. Keefe, Bruyette & Woods lowered their price target on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 9th. 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. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $317.83.

Primerica Trading Down 2.3%

Shares of PRI traded down $6.18 during midday trading on Friday, reaching $259.45. The stock had a trading volume of 148,378 shares, compared to its average volume of 170,958. The firm has a 50 day simple moving average of $266.65 and a 200-day simple moving average of $273.27. Primerica, Inc. has a one year low of $230.98 and a one year high of $307.91. The firm has a market cap of $8.59 billion, a PE ratio of 17.45 and a beta of 0.98.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.02 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 company had revenue of $803.56 million during the quarter, compared to the consensus estimate of $783.54 million. During the same quarter last year, the firm posted $3.91 EPS. The company's quarterly 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 fiscal year.

Primerica Dividend Announcement

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

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.