SG Americas Securities LLC Acquires New Position in Primerica, Inc. (NYSE:PRI)

SG Americas Securities LLC purchased a new stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,366 shares of the financial services provider's stock, valued at approximately $389,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Burgundy Asset Management Ltd. increased its position in shares of Primerica by 1.7% in the fourth quarter. Burgundy Asset Management Ltd. now owns 1,288,473 shares of the financial services provider's stock worth $349,717,000 after acquiring an additional 21,208 shares in the last quarter. Geode Capital Management LLC boosted its position in Primerica by 11.9% during the 4th quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider's stock worth $211,691,000 after purchasing an additional 82,921 shares during the period. GAMMA Investing LLC increased its holdings in Primerica by 39,199.5% in the 1st quarter. GAMMA Investing LLC now owns 443,298 shares of the financial services provider's stock valued at $126,132,000 after purchasing an additional 442,170 shares in the last quarter. Northern Trust Corp raised its position in Primerica by 15.6% in the fourth quarter. Northern Trust Corp now owns 347,040 shares of the financial services provider's stock valued at $94,194,000 after purchasing an additional 46,935 shares during the period. Finally, Fuller & Thaler Asset Management Inc. raised its position in Primerica by 1.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 230,736 shares of the financial services provider's stock valued at $62,626,000 after purchasing an additional 2,905 shares during the period. 90.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PRI. Keefe, Bruyette & Woods lowered their target price on Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research note on Wednesday, April 9th. Morgan Stanley upped their price target on Primerica from $274.00 to $296.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $308.00.

Primerica Price Performance

PRI traded up $2.74 on Friday, reaching $268.30. The company's stock had a trading volume of 265,777 shares, compared to its average volume of 153,766. Primerica, Inc. has a 1 year low of $230.98 and a 1 year high of $307.91. The business's 50 day moving average is $265.95 and its 200 day moving average is $274.20. The stock has a market cap of $8.88 billion, a price-to-earnings ratio of 18.04 and a beta of 0.99.

Primerica (NYSE:PRI - Get Free Report) last released 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 company had revenue of $803.56 million during the quarter, compared to analysts' expectations of $783.54 million. Primerica had a return on equity of 32.30% and a net margin of 15.82%. The business's revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $3.91 EPS. As a group, research analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current fiscal 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 paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $4.16 dividend on an annualized basis and a yield of 1.55%. Primerica's dividend payout ratio (DPR) is 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.