Victory Capital Management Inc. Increases Stock Position in Primerica, Inc. (NYSE:PRI)

Victory Capital Management Inc. boosted its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 19.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,216 shares of the financial services provider's stock after purchasing an additional 8,913 shares during the quarter. Victory Capital Management Inc. owned about 0.17% of Primerica worth $15,711,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PRI. California Public Employees Retirement System lifted its stake in Primerica by 59.4% during the 4th quarter. California Public Employees Retirement System now owns 111,720 shares of the financial services provider's stock valued at $30,323,000 after acquiring an additional 41,612 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Primerica by 11.4% during the 4th quarter. JPMorgan Chase & Co. now owns 117,308 shares of the financial services provider's stock valued at $31,840,000 after acquiring an additional 11,996 shares in the last quarter. World Investment Advisors bought a new position in Primerica during the 4th quarter valued at $1,343,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Primerica by 14.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 17,901 shares of the financial services provider's stock valued at $4,859,000 after acquiring an additional 2,262 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in Primerica by 21.7% during the 1st quarter. Cerity Partners LLC now owns 5,201 shares of the financial services provider's stock valued at $1,480,000 after acquiring an additional 927 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company's stock.

Wall Street Analysts Forecast Growth

PRI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods dropped 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 lifted their target price on Primerica from $274.00 to $296.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $317.83.

Primerica Stock Performance

NYSE PRI traded up $1.48 during trading on Friday, hitting $265.61. 100,681 shares of the company's stock traded hands, compared to its average volume of 178,194. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 17.86 and a beta of 0.98. Primerica, Inc. has a 12-month low of $230.98 and a 12-month high of $307.91. The business has a 50 day moving average of $267.47 and a 200-day moving average of $273.54.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings data 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 business had revenue of $803.56 million for the quarter, compared to the consensus estimate of $783.54 million. Primerica had a net margin of 15.82% and a return on equity of 32.30%. The company's revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.91 earnings per share. On average, analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 22nd were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Thursday, May 22nd. Primerica's dividend payout ratio is presently 27.98%.

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.