M&T Bank Corp Has $820,000 Position in Primerica, Inc. (NYSE:PRI)

M&T Bank Corp lifted its stake in shares of Primerica, Inc. (NYSE:PRIFree Report) by 4.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,881 shares of the financial services provider’s stock after buying an additional 113 shares during the quarter. M&T Bank Corp’s holdings in Primerica were worth $820,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. California Public Employees Retirement System boosted its stake in Primerica by 59.4% in the 4th quarter. California Public Employees Retirement System now owns 111,720 shares of the financial services provider’s stock valued at $30,323,000 after purchasing an additional 41,612 shares during the period. JPMorgan Chase & Co. raised its stake in Primerica by 11.4% in the 4th quarter. JPMorgan Chase & Co. now owns 117,308 shares of the financial services provider’s stock worth $31,840,000 after purchasing an additional 11,996 shares in the last quarter. World Investment Advisors bought a new stake in Primerica in the 4th quarter valued at about $1,343,000. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Primerica by 14.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 17,901 shares of the financial services provider’s stock valued at $4,859,000 after purchasing an additional 2,262 shares during the period. Finally, Prudential Financial Inc. grew its position in shares of Primerica by 35.3% during the 4th quarter. Prudential Financial Inc. now owns 26,354 shares of the financial services provider’s stock worth $7,857,000 after purchasing an additional 6,874 shares in the last quarter. Institutional investors own 90.88% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PRI shares. Keefe, Bruyette & Woods dropped their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research report on Wednesday, April 9th. Morgan Stanley lifted their price objective on Primerica from $274.00 to $296.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $308.00.

Get Our Latest Stock Report on Primerica

Primerica Price Performance

Shares of PRI opened at $265.68 on Tuesday. The firm has a 50 day simple moving average of $268.59 and a two-hundred day simple moving average of $274.08. Primerica, Inc. has a one year low of $230.98 and a one year high of $307.91. The company has a market cap of $8.79 billion, a P/E ratio of 17.87 and a beta of 0.98.

Primerica (NYSE:PRIGet Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.02 EPS for the quarter, topping analysts’ consensus estimates of $4.77 by $0.25. The company 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%. Primerica’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.91 EPS. On average, analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.57%. Primerica’s dividend payout ratio (DPR) is currently 27.98%.

Primerica Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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