Teacher Retirement System of Texas Sells 6,232 Shares of Primerica, Inc. (NYSE:PRI)

Teacher Retirement System of Texas lowered its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 19.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,538 shares of the financial services provider's stock after selling 6,232 shares during the quarter. Teacher Retirement System of Texas owned about 0.08% of Primerica worth $7,551,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Mariner LLC boosted its stake in Primerica by 1.4% in the fourth quarter. Mariner LLC now owns 2,611 shares of the financial services provider's stock worth $709,000 after purchasing an additional 36 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Primerica by 1.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 3,095 shares of the financial services provider's stock worth $881,000 after purchasing an additional 44 shares in the last quarter. Dana Investment Advisors Inc. boosted its stake in Primerica by 1.2% in the fourth quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider's stock worth $1,012,000 after purchasing an additional 45 shares in the last quarter. Assetmark Inc. boosted its stake in Primerica by 3.9% in the fourth quarter. Assetmark Inc. now owns 1,518 shares of the financial services provider's stock worth $412,000 after purchasing an additional 57 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in Primerica by 26.9% in the first quarter. Parallel Advisors LLC now owns 307 shares of the financial services provider's stock worth $87,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company's stock.

Primerica Price Performance

PRI stock traded up $2.56 during mid-day trading on Friday, reaching $277.24. The company had a trading volume of 164,980 shares, compared to its average volume of 155,309. The stock has a 50 day simple moving average of $267.89 and a two-hundred day simple moving average of $274.14. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of 18.64 and a beta of 0.98. Primerica, Inc. has a 52 week low of $230.98 and a 52 week high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share for the quarter, beating analysts' consensus estimates 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 32.30% and a net margin of 15.82%. The business's revenue was up 8.3% compared to the same quarter last year. During the same period last year, the company earned $3.91 earnings per share. On average, equities analysts predict that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 22nd were paid a $1.04 dividend. 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 1.50%. Primerica's dividend payout ratio is 27.98%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PRI shares. Keefe, Bruyette & Woods reduced their price objective on 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 increased their price objective on Primerica from $274.00 to $296.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Primerica currently has a consensus rating of "Hold" and an average target price of $308.00.

Primerica Company 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.