Ritholtz Wealth Management Acquires Shares of 2,366 Primerica, Inc. (NYSE:PRI)

Ritholtz Wealth Management bought a new position in shares of Primerica, Inc. (NYSE:PRI) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,366 shares of the financial services provider’s stock, valued at approximately $673,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PRI. Colonial Trust Co SC acquired a new stake in shares of Primerica during the fourth quarter worth $25,000. True Wealth Design LLC acquired a new stake in shares of Primerica in the 4th quarter valued at approximately $27,000. EverSource Wealth Advisors LLC grew its holdings in Primerica by 129.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 71 shares during the period. Venturi Wealth Management LLC lifted its holdings in Primerica by 116.2% in the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 115 shares during the period. Finally, Bessemer Group Inc. increased its holdings in Primerica by 182.2% in the fourth quarter. Bessemer Group Inc. now owns 254 shares of the financial services provider’s stock valued at $69,000 after buying an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Price Performance

Shares of Primerica stock opened at $259.87 on Thursday. Primerica, Inc. has a 1-year low of $230.98 and a 1-year high of $307.91. The business has a 50-day moving average of $264.44 and a 200-day moving average of $275.66. The company has a market capitalization of $8.60 billion, a PE ratio of 17.48 and a beta of 0.99.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.77 by $0.25. The company had revenue of $803.56 million for the quarter, compared to the consensus estimate of $783.54 million. Primerica had a return on equity of 32.30% and a net margin of 15.82%. Primerica’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.91 EPS. On average, equities analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 22nd were issued a $1.04 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $4.16 annualized dividend and a yield of 1.60%. Primerica’s dividend payout ratio is presently 27.98%.

Analyst Upgrades and Downgrades

PRI has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods decreased their price target on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley increased their target price on Primerica from $274.00 to $296.00 and gave the company 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $308.00.

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.