Primerica, Inc. (NYSE:PRI) Position Increased by Vanguard Group Inc.

Vanguard Group Inc. raised its holdings in shares of Primerica, Inc. (NYSE:PRI) by 1.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,493,650 shares of the financial services provider’s stock after buying an additional 37,994 shares during the period. Vanguard Group Inc. owned about 0.11% of Primerica worth $994,048,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Assetmark Inc. boosted its holdings in Primerica by 17.1% during the first quarter. Assetmark Inc. now owns 1,778 shares of the financial services provider’s stock worth $506,000 after buying an additional 260 shares in the last quarter. Cerity Partners LLC boosted its holdings in Primerica by 21.7% during the first quarter. Cerity Partners LLC now owns 5,201 shares of the financial services provider’s stock worth $1,480,000 after buying an additional 927 shares in the last quarter. Two Sigma Securities LLC bought a new stake in Primerica during the fourth quarter worth approximately $391,000. Deutsche Bank AG boosted its holdings in Primerica by 224.3% during the fourth quarter. Deutsche Bank AG now owns 13,367 shares of the financial services provider’s stock worth $3,628,000 after buying an additional 9,245 shares in the last quarter. Finally, Allianz Asset Management GmbH bought a new stake in Primerica during the first quarter worth approximately $2,683,000. 90.88% of the stock is currently owned by institutional investors.

Primerica Stock Performance

PRI stock opened at $257.96 on Tuesday. The stock has a market cap of $8.36 billion, a P/E ratio of 12.75 and a beta of 0.99. The firm has a 50 day simple moving average of $265.48 and a 200 day simple moving average of $271.65. Primerica, Inc. has a 52 week low of $230.98 and a 52 week high of $307.91.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.46 EPS for the quarter, topping the consensus estimate of $5.18 by $0.28. The business had revenue of $796.02 million during the quarter, compared to analysts’ expectations of $790.99 million. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the company posted $4.71 earnings per share. Sell-side analysts predict that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 22nd will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, August 22nd. Primerica’s dividend payout ratio (DPR) is currently 20.55%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Morgan Stanley raised their target price on shares of Primerica from $274.00 to $296.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. Jefferies Financial Group decreased their target price on shares of Primerica from $293.00 to $283.00 and set a “hold” rating for the company in a report on Monday. Finally, Keefe, Bruyette & Woods raised their target price on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a report on Monday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Primerica currently has an average rating of “Hold” and a consensus price target of $313.57.

About Primerica

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.