Riverwater Partners LLC Decreases Stock Position in Primerica, Inc. (NYSE:PRI)

Riverwater Partners LLC cut its holdings in Primerica, Inc. (NYSE:PRI) by 4.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,000 shares of the financial services provider’s stock after selling 50 shares during the period. Riverwater Partners LLC’s holdings in Primerica were worth $285,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Burgundy Asset Management Ltd. boosted its position in shares of Primerica by 1.7% in the 4th quarter. Burgundy Asset Management Ltd. now owns 1,288,473 shares of the financial services provider’s stock worth $349,717,000 after buying an additional 21,208 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Primerica by 11.9% in the 4th quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider’s stock valued at $211,691,000 after purchasing an additional 82,921 shares in the last quarter. GAMMA Investing LLC lifted 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 boosted its stake in shares of Primerica by 15.6% during the 4th quarter. Northern Trust Corp now owns 347,040 shares of the financial services provider’s stock worth $94,194,000 after purchasing an additional 46,935 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in shares of Primerica by 1.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 230,736 shares of the financial services provider’s stock worth $62,626,000 after purchasing an additional 2,905 shares during the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PRI. Morgan Stanley upped their price objective on shares of Primerica from $274.00 to $296.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. Keefe, Bruyette & Woods decreased 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 report on Wednesday, April 9th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Primerica presently has a consensus rating of “Hold” and a consensus price target of $308.00.

Primerica Price Performance

Shares of PRI stock opened at $261.08 on Friday. The firm has a market cap of $8.64 billion, a P/E ratio of 17.56 and a beta of 0.99. Primerica, Inc. has a 1-year low of $230.98 and a 1-year high of $307.91. The firm’s 50-day simple moving average is $264.86 and its 200-day simple moving average is $275.12.

Primerica (NYSE:PRI) last announced its quarterly earnings data 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. The business had revenue of $803.56 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm posted $3.91 EPS. Analysts expect 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. Stockholders of record on Thursday, May 22nd were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $4.16 annualized dividend and a dividend yield of 1.59%. Primerica’s payout ratio is currently 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.