Cambridge Investment Research Advisors Inc. Trims Holdings in Primerica, Inc. (NYSE:PRI)

Cambridge Investment Research Advisors Inc. decreased its holdings in Primerica, Inc. (NYSE:PRI) by 3.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,885 shares of the financial services provider’s stock after selling 62 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Primerica were worth $536,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Mariner LLC increased its stake in shares of Primerica by 1.4% during the fourth quarter. Mariner LLC now owns 2,611 shares of the financial services provider’s stock valued at $709,000 after buying an additional 36 shares during the period. Assetmark Inc. increased its stake in shares of Primerica by 3.9% during the fourth quarter. Assetmark Inc. now owns 1,518 shares of the financial services provider’s stock valued at $412,000 after buying an additional 57 shares during the period. Parallel Advisors LLC increased its stake in shares of Primerica by 26.9% during the first quarter. Parallel Advisors LLC now owns 307 shares of the financial services provider’s stock valued at $87,000 after buying an additional 65 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Primerica by 2.8% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,507 shares of the financial services provider’s stock valued at $681,000 after buying an additional 69 shares during the period. Finally, NDVR Inc. increased its stake in shares of Primerica by 6.6% during the fourth quarter. NDVR Inc. now owns 1,135 shares of the financial services provider’s stock valued at $308,000 after buying an additional 70 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Wall Street Analyst Weigh In

PRI has been the subject of a number of recent research reports. Morgan Stanley boosted 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. Keefe, Bruyette & Woods reduced their target price on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a report on Wednesday, April 9th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $308.00.

Primerica Price Performance

Shares of NYSE:PRI opened at $269.62 on Thursday. Primerica, Inc. has a 1 year low of $230.98 and a 1 year high of $307.91. The firm has a market capitalization of $8.92 billion, a price-to-earnings ratio of 18.13 and a beta of 0.98. The business’s 50 day moving average price is $268.39 and its 200-day moving average price is $274.16.

Primerica (NYSE:PRI) last issued its 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. Primerica had a return on equity of 32.30% and a net margin of 15.82%. The business had revenue of $803.56 million during the quarter, compared to the consensus estimate of $783.54 million. During the same period last year, the company earned $3.91 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, sell-side analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 22nd were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Thursday, May 22nd. Primerica’s dividend payout ratio is presently 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.