Y Intercept Hong Kong Ltd Sells 1,308 Shares of Primerica, Inc. (NYSE:PRI)

Key Points

• Y Intercept Hong Kong Ltd decreased its stake in Primerica, Inc. by 29.8%, selling 1,308 shares in the first quarter, leaving them with a total of 3,075 shares valued at approximately $875,000.
• Primerica's recent earnings report exceeded expectations with $5.02 earnings per share, surpassing the consensus estimate by $0.25, alongside an 8.3% year-over-year revenue growth to $803.56 million.
• The company is currently paying a dividend of $1.04 per share, resulting in an annualized payout of $4.16, with a dividend yield of 1.57% and a payout ratio of 27.98%.

Y Intercept Hong Kong Ltd trimmed its position in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 29.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,075 shares of the financial services provider's stock after selling 1,308 shares during the period. Y Intercept Hong Kong Ltd's holdings in Primerica were worth $875,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PRI. Colonial Trust Co SC bought a new position in Primerica in the 4th quarter worth about $25,000. True Wealth Design LLC bought a new position in Primerica in the 4th quarter worth about $27,000. Bessemer Group Inc. grew its stake in Primerica by 182.2% in the 4th quarter. Bessemer Group Inc. now owns 254 shares of the financial services provider's stock worth $69,000 after acquiring an additional 164 shares in the last quarter. Golden State Wealth Management LLC grew its stake in Primerica by 105.7% in the 1st quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider's stock worth $72,000 after acquiring an additional 130 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in Primerica by 26.9% in the 1st quarter. Parallel Advisors LLC now owns 307 shares of the financial services provider's stock worth $87,000 after acquiring an additional 65 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors.

Primerica Stock Performance

Shares of PRI opened at $265.61 on Friday. The company has a 50 day moving average price of $267.47 and a 200-day moving average price of $273.57. Primerica, Inc. has a fifty-two week low of $230.98 and a fifty-two week high of $307.91. The stock has a market capitalization of $8.79 billion, a PE ratio of 17.86 and a beta of 0.98.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share for the quarter, topping the consensus estimate of $4.77 by $0.25. Primerica had a net margin of 15.82% and a return on equity of 32.30%. The firm had revenue of $803.56 million during the quarter, compared to analysts' expectations of $783.54 million. During the same quarter in the prior year, the company earned $3.91 EPS. The company's revenue was up 8.3% compared to the same quarter last year. Equities research analysts forecast that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have commented on PRI shares. Morgan Stanley upped their target price on shares of Primerica from $274.00 to $296.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Keefe, Bruyette & Woods dropped their target price on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 9th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Primerica has an average rating of "Hold" and a consensus price target of $317.83.

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.

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