Primerica, Inc. (NYSE:PRI) Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its stake in shares of Primerica, Inc. (NYSE:PRI) by 1.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,323 shares of the financial services provider’s stock after buying an additional 125 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Primerica were worth $2,937,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allworth Financial LP grew its position in Primerica by 27.3% in the fourth quarter. Allworth Financial LP now owns 331 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 71 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Primerica by 3.0% in the fourth quarter. Sanctuary Advisors LLC now owns 5,803 shares of the financial services provider’s stock valued at $1,690,000 after purchasing an additional 171 shares during the period. CIBC Asset Management Inc grew its holdings in Primerica by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 1,108 shares of the financial services provider’s stock valued at $301,000 after purchasing an additional 54 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in Primerica by 116.2% during the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 115 shares in the last quarter. Finally, Atria Wealth Solutions Inc. increased its stake in Primerica by 41.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 1,148 shares of the financial services provider’s stock worth $312,000 after buying an additional 338 shares during the period. 90.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PRI shares. 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 report on Wednesday, April 9th. Morgan Stanley boosted 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 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.com, the stock has an average rating of “Hold” and a consensus target price of $308.00.

Primerica Stock Performance

PRI opened at $268.47 on Wednesday. The company has a market capitalization of $8.88 billion, a P/E ratio of 18.05 and a beta of 0.99. The company has a 50-day moving average of $265.26 and a 200-day moving average of $274.57. Primerica, Inc. has a 1-year low of $230.98 and a 1-year high of $307.91.

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, beating the consensus estimate of $4.77 by $0.25. Primerica had a return on equity of 32.30% and a net margin of 15.82%. The firm had revenue of $803.56 million during the quarter, compared to analyst estimates of $783.54 million. During the same period in the previous year, the company earned $3.91 earnings per share. Primerica’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors 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 1.55%. The ex-dividend date of this dividend was Thursday, May 22nd. Primerica’s dividend 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.