Meeder Advisory Services Inc. Cuts Stock Holdings in Primerica, Inc. (NYSE:PRI)

Meeder Advisory Services Inc. trimmed its holdings in shares of Primerica, Inc. (NYSE:PRI) by 1.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,438 shares of the financial services provider’s stock after selling 67 shares during the period. Meeder Advisory Services Inc.’s holdings in Primerica were worth $978,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PRI. Commonwealth Equity Services LLC raised its stake in Primerica by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 3,554 shares of the financial services provider’s stock worth $965,000 after buying an additional 76 shares in the last quarter. LPL Financial LLC increased its stake in shares of Primerica by 69.7% during the fourth quarter. LPL Financial LLC now owns 10,488 shares of the financial services provider’s stock valued at $2,847,000 after purchasing an additional 4,307 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Primerica by 11.4% during the fourth quarter. JPMorgan Chase & Co. now owns 117,308 shares of the financial services provider’s stock valued at $31,840,000 after purchasing an additional 11,996 shares in the last quarter. Norges Bank bought a new position in shares of Primerica during the fourth quarter valued at approximately $1,906,000. Finally, Pictet Asset Management Holding SA increased its stake in shares of Primerica by 6.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 4,863 shares of the financial services provider’s stock valued at $1,320,000 after purchasing an additional 312 shares in the last quarter. 90.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PRI has been the subject of a number of analyst reports. Keefe, Bruyette & Woods decreased their target price on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research note on Wednesday, April 9th. Morgan Stanley increased their price target on shares of Primerica from $274.00 to $296.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $317.83.

Primerica Trading Down 1.9%

Shares of PRI stock opened at $261.79 on Thursday. Primerica, Inc. has a 12-month low of $230.98 and a 12-month high of $307.91. The firm’s 50 day moving average is $266.70 and its 200 day moving average is $273.33. The stock has a market capitalization of $8.66 billion, a P/E ratio of 17.61 and a beta of 0.98.

Primerica (NYSE:PRI) last released 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. The business had revenue of $803.56 million for the quarter, compared to the consensus estimate of $783.54 million. Primerica had a net margin of 15.82% and a return on equity of 32.30%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm earned $3.91 earnings per share. As a group, equities analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 22nd were issued a $1.04 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $4.16 dividend on an annualized basis and a yield of 1.59%. 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.