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

Riverwater Partners LLC decreased its holdings in Primerica, Inc. (NYSE:PRI) by 4.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,000 shares of the financial services provider’s stock after selling 50 shares during the quarter. Riverwater Partners LLC’s holdings in Primerica were worth $285,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PRI. Colonial Trust Co SC purchased a new position in Primerica in the fourth quarter valued at approximately $25,000. True Wealth Design LLC purchased a new stake in shares of Primerica during the fourth quarter valued at approximately $27,000. EverSource Wealth Advisors LLC raised its stake in shares of Primerica by 129.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 71 shares during the period. Venturi Wealth Management LLC raised its stake in shares of Primerica by 116.2% during the fourth 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 during the period. Finally, Bessemer Group Inc. raised its stake in shares of Primerica by 182.2% during the fourth quarter. Bessemer Group Inc. now owns 254 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 164 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Trading Up 0.3%

Shares of NYSE:PRI opened at $261.08 on Friday. The company has a fifty day simple moving average of $264.86 and a 200 day simple moving average of $275.12. The firm has a market cap of $8.64 billion, a PE ratio of 17.56 and a beta of 0.99. Primerica, Inc. has a 12-month low of $230.98 and a 12-month high of $307.91.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.77 by $0.25. The business had revenue of $803.56 million during 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 business’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.91 earnings per share. As a group, equities research analysts forecast that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 22nd were paid 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 dividend yield of 1.59%. Primerica’s dividend payout ratio (DPR) is presently 27.98%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Morgan Stanley lifted 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 dropped their price objective on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Primerica presently has an average rating of “Hold” and an average target price of $308.00.

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.