Westfield Capital Management Co. LP Increases Holdings in Primerica, Inc. (NYSE:PRI)

Key Points

• Westfield Capital Management Co. LP increased its stake in Primerica, Inc. by 15.0%, now owning 276,225 shares valued at approximately $78.6 million.
• Primerica's latest quarterly earnings exceeded analysts' expectations, reporting $5.02 EPS compared to a consensus estimate of $4.77 and a revenue of $803.56 million.
• The company recently announced a quarterly dividend of $1.04, providing a 1.6% dividend yield and maintaining a payout ratio of 27.98%.

Westfield Capital Management Co. LP grew its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 15.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 276,225 shares of the financial services provider's stock after purchasing an additional 36,095 shares during the quarter. Westfield Capital Management Co. LP owned about 0.83% of Primerica worth $78,594,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Colonial Trust Co SC bought a new stake in Primerica in the fourth quarter valued at $25,000. True Wealth Design LLC bought a new stake in shares of Primerica in the 4th quarter worth about $27,000. Bessemer Group Inc. grew its holdings in shares of Primerica by 182.2% in the 4th quarter. Bessemer Group Inc. now owns 254 shares of the financial services provider's stock worth $69,000 after purchasing an additional 164 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Primerica by 105.7% in the 1st quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider's stock worth $72,000 after purchasing an additional 130 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in Primerica by 26.9% during the 1st quarter. Parallel Advisors LLC now owns 307 shares of the financial services provider's stock worth $87,000 after acquiring an additional 65 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company's stock.

Primerica Stock Down 0.3%

NYSE:PRI traded down $0.89 during trading hours on Tuesday, hitting $264.51. 151,994 shares of the company traded hands, compared to its average volume of 162,710. Primerica, Inc. has a one year low of $230.98 and a one year high of $307.91. The company has a market cap of $8.75 billion, a PE ratio of 17.79 and a beta of 0.99. The firm's 50-day simple moving average is $266.47 and its 200-day simple moving average is $272.75.

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 for the quarter, topping analysts' consensus estimates of $4.77 by $0.25. The business had revenue of $803.56 million for the quarter, compared to analyst estimates of $783.54 million. Primerica had a return on equity of 32.30% and a net margin of 15.82%. The company's quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.91 EPS. As a group, equities research analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 22nd were paid 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 payout ratio is 27.98%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PRI shares. Morgan Stanley raised their price target on Primerica from $274.00 to $296.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Keefe, Bruyette & Woods reduced their price target on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a report on Wednesday, April 9th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $317.83.

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.