Rhumbline Advisers Sells 2,187 Shares of Primerica, Inc. (NYSE:PRI)

Rhumbline Advisers trimmed its stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 2.3% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 92,500 shares of the financial services provider's stock after selling 2,187 shares during the quarter. Rhumbline Advisers owned about 0.28% of Primerica worth $26,319,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PRI. Colonial Trust Co SC bought a new stake in Primerica during the fourth quarter worth about $25,000. True Wealth Design LLC bought a new stake in shares of Primerica during the 4th quarter worth approximately $27,000. Golden State Wealth Management LLC bought a new stake in shares of Primerica during the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC lifted its holdings 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 worth $34,000 after acquiring an additional 71 shares during the period. Finally, Venturi Wealth Management LLC lifted its holdings 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 worth $58,000 after acquiring an additional 115 shares during the period. 90.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on PRI. Wall Street Zen cut Primerica from a "buy" rating to a "hold" rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods dropped their price objective on Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research report on Wednesday, April 9th. Finally, Morgan Stanley upped their price objective on Primerica from $274.00 to $296.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Primerica currently has a consensus rating of "Hold" and an average price target of $308.00.

Primerica Stock Performance

Shares of PRI opened at $264.87 on Friday. Primerica, Inc. has a 52 week low of $219.52 and a 52 week high of $307.91. The stock has a market capitalization of $8.77 billion, a price-to-earnings ratio of 19.26 and a beta of 1.02. The stock has a fifty day moving average of $264.69 and a 200-day moving average of $278.17.

Primerica (NYSE:PRI - Get Free Report) last posted its earnings results on Wednesday, May 7th. The financial services provider reported $5.02 EPS for the quarter, beating the consensus estimate of $4.77 by $0.25. The firm had revenue of $803.56 million during the quarter, compared to the consensus estimate of $783.54 million. Primerica had a return on equity of 31.11% and a net margin of 15.14%. The business's quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the company earned $3.91 earnings per share. As a group, equities analysts forecast that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 22nd will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.16 dividend on an annualized basis and a yield of 1.57%. Primerica's dividend payout ratio (DPR) is presently 27.98%.

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.

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