Envestnet Portfolio Solutions Inc. Sells 3,543 Shares of Primerica, Inc. (NYSE:PRI)

Envestnet Portfolio Solutions Inc. decreased its holdings in Primerica, Inc. (NYSE:PRI) by 48.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,743 shares of the financial services provider’s stock after selling 3,543 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Primerica were worth $1,065,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allworth Financial LP increased its holdings in shares of Primerica by 27.3% during the 4th quarter. Allworth Financial LP now owns 331 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 71 shares during the last quarter. Sanctuary Advisors LLC increased its holdings 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 last quarter. CIBC Asset Management Inc increased its holdings in shares of Primerica by 5.1% in the fourth 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 during the last quarter. Venturi Wealth Management LLC raised its position in shares of 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 purchasing an additional 115 shares during the period. Finally, Atria Wealth Solutions Inc. lifted its stake in shares of 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 last quarter. Institutional investors own 90.88% of the company’s stock.

Wall Street Analysts Forecast Growth

PRI has been the subject of several research reports. Keefe, Bruyette & Woods dropped their price target on Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a report on Wednesday, April 9th. Morgan Stanley increased their price objective on Primerica from $274.00 to $296.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $308.00.

Primerica Trading Up 0.6%

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

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. The firm had revenue of $803.56 million during the quarter, compared to analysts’ expectations of $783.54 million. Primerica had a return on equity of 32.30% and a net margin of 15.82%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.91 EPS. Analysts forecast that Primerica, Inc. will post 20.6 EPS for the current 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 paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Thursday, May 22nd. Primerica’s dividend payout ratio (DPR) is presently 27.98%.

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.