Cerity Partners LLC Has $1.48 Million Position in Primerica, Inc. (NYSE:PRI)

Cerity Partners LLC lifted its holdings in shares of Primerica, Inc. (NYSE:PRI) by 21.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,201 shares of the financial services provider’s stock after purchasing an additional 927 shares during the period. Cerity Partners LLC’s holdings in Primerica were worth $1,480,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Mariner LLC boosted its position in shares of Primerica by 1.4% during the 4th quarter. Mariner LLC now owns 2,611 shares of the financial services provider’s stock valued at $709,000 after acquiring an additional 36 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Primerica by 1.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 3,095 shares of the financial services provider’s stock worth $881,000 after purchasing an additional 44 shares in the last quarter. TD Private Client Wealth LLC increased its position in shares of Primerica by 15.3% during the 1st quarter. TD Private Client Wealth LLC now owns 421 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 56 shares during the last quarter. Parallel Advisors LLC raised its position in Primerica by 26.9% in the 1st quarter. Parallel Advisors LLC now owns 307 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 65 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in Primerica by 2.8% in 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 acquiring an additional 69 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on PRI. Keefe, Bruyette & Woods cut their target price on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a report on Wednesday, April 9th. Morgan Stanley increased their price target on shares of Primerica from $274.00 to $296.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Primerica has a consensus rating of “Hold” and an average target price of $317.83.

Primerica Stock Down 1.3%

Shares of PRI opened at $263.93 on Tuesday. Primerica, Inc. has a twelve month low of $230.98 and a twelve month high of $307.91. The company has a 50 day moving average of $268.34 and a two-hundred day moving average of $273.90. The company has a market cap of $8.73 billion, a price-to-earnings ratio of 17.75 and a beta of 0.98.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.02 EPS for the quarter, beating the consensus estimate 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%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.91 EPS. On average, sell-side analysts expect 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. Shareholders of record on Thursday, May 22nd were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend 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.