WCM Investment Management LLC Cuts Holdings in Primerica, Inc. (NYSE:PRI)

WCM Investment Management LLC lowered its holdings in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 23.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,936 shares of the financial services provider's stock after selling 18,181 shares during the period. WCM Investment Management LLC owned approximately 0.18% of Primerica worth $16,415,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Primerica by 39,199.5% during the 1st quarter. GAMMA Investing LLC now owns 443,298 shares of the financial services provider's stock worth $126,132,000 after buying an additional 442,170 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Primerica during the 4th quarter valued at $34,191,000. AQR Capital Management LLC boosted its stake in Primerica by 254.5% during the fourth quarter. AQR Capital Management LLC now owns 116,271 shares of the financial services provider's stock worth $31,558,000 after acquiring an additional 83,477 shares in the last quarter. Geode Capital Management LLC grew its holdings in Primerica by 11.9% in the fourth 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. Finally, FIL Ltd increased its stake in Primerica by 85.5% in the fourth quarter. FIL Ltd now owns 131,365 shares of the financial services provider's stock valued at $35,655,000 after purchasing an additional 60,565 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors.

Primerica Price Performance

Shares of NYSE PRI traded down $3.83 during mid-day trading on Wednesday, reaching $274.24. 258,934 shares of the company's stock traded hands, compared to its average volume of 155,694. The business has a 50-day simple moving average of $266.95 and a 200 day simple moving average of $274.10. The stock has a market cap of $9.07 billion, a P/E ratio of 18.44 and a beta of 0.98. Primerica, Inc. has a 1-year low of $230.98 and a 1-year high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.77 by $0.25. The business 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 company's quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.91 EPS. Equities research analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 22nd were issued a dividend of $1.04 per share. The ex-dividend date was Thursday, May 22nd. This represents a $4.16 annualized dividend and a yield of 1.52%. Primerica's dividend payout ratio (DPR) is currently 27.98%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PRI. Keefe, Bruyette & Woods cut their price objective on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a research report 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 research note 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. According to data from MarketBeat, Primerica currently has an average rating of "Hold" and an average price target of $308.00.

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.