Cerity Partners LLC Purchases 927 Shares of Primerica, Inc. (NYSE:PRI)

Cerity Partners LLC grew its stake in shares of Primerica, Inc. (NYSE:PRI) by 21.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,201 shares of the financial services provider’s stock after acquiring 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.

Several other large investors also recently modified their holdings of PRI. Colonial Trust Co SC purchased a new stake in Primerica in the 4th quarter worth approximately $25,000. True Wealth Design LLC purchased a new stake in Primerica in the 4th quarter worth approximately $27,000. Bessemer Group Inc. raised its position in shares of Primerica by 182.2% during the 4th 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. Golden State Wealth Management LLC raised its position in shares of Primerica by 105.7% during the 1st quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider’s stock valued at $72,000 after buying an additional 130 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Primerica by 26.9% during the 1st quarter. Parallel Advisors LLC now owns 307 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Stock Down 1.3%

Shares of Primerica stock opened at $263.93 on Tuesday. The firm has a market cap of $8.73 billion, a PE ratio of 17.75 and a beta of 0.98. Primerica, Inc. has a 12-month low of $230.98 and a 12-month high of $307.91. The company’s fifty day simple moving average is $268.34 and its two-hundred day simple moving average is $273.90.

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

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 22nd were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $4.16 dividend on an annualized basis and a yield of 1.58%. Primerica’s dividend payout ratio (DPR) is currently 27.98%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PRI shares. Morgan Stanley increased their target price on shares of Primerica from $274.00 to $296.00 and gave the company 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 on the stock in a report on Wednesday, April 9th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $317.83.

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.