Brinker Capital Inc. boosted its position in shares of Primerica, Inc. (NYSE:PRI) by 12.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,958 shares of the financial services provider’s stock after purchasing an additional 1,087 shares during the period. Brinker Capital Inc.’s holdings in Primerica were worth $962,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in shares of Primerica by 0.9% in the 4th quarter. BlackRock Inc. now owns 4,679,499 shares of the financial services provider’s stock valued at $475,203,000 after acquiring an additional 39,870 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Primerica by 4.1% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,767,799 shares of the financial services provider’s stock valued at $363,971,000 after acquiring an additional 147,816 shares in the last quarter. Bamco Inc. NY lifted its stake in Primerica by 0.3% in the 4th quarter. Bamco Inc. NY now owns 2,683,565 shares of the financial services provider’s stock valued at $272,516,000 after purchasing an additional 7,350 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Primerica by 2.3% in the 1st quarter. Wells Fargo & Company MN now owns 838,510 shares of the financial services provider’s stock valued at $81,000,000 after purchasing an additional 19,142 shares during the last quarter. Finally, AGF Investments Inc. lifted its stake in Primerica by 0.9% in the 4th quarter. AGF Investments Inc. now owns 689,082 shares of the financial services provider’s stock valued at $69,976,000 after purchasing an additional 6,126 shares during the last quarter. Hedge funds and other institutional investors own 88.41% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Primerica from a “hold” rating to a “sell” rating in a research note on Friday, May 11th. Wells Fargo & Co set a $102.00 target price on shares of Primerica and gave the company a “hold” rating in a research note on Tuesday, May 8th. Finally, ValuEngine downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, April 13th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $101.25.
Primerica (NYSE:PRI) last posted its earnings results on Tuesday, May 8th. The financial services provider reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.02). The company had revenue of $459.92 million for the quarter, compared to the consensus estimate of $459.83 million. Primerica had a return on equity of 19.88% and a net margin of 20.87%. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.11 EPS. sell-side analysts predict that Primerica, Inc. will post 7.16 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Tuesday, May 22nd will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, May 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.99%. Primerica’s dividend payout ratio (DPR) is presently 18.12%.
Primerica, Inc, together with its subsidiaries, distributes financial products to middle income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.
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