Meeder Advisory Services Inc. Cuts Position in Primerica, Inc. (NYSE:PRI)

Meeder Advisory Services Inc. lessened its holdings in Primerica, Inc. (NYSE:PRI) by 1.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,438 shares of the financial services provider’s stock after selling 67 shares during the period. Meeder Advisory Services Inc.’s holdings in Primerica were worth $978,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Colonial Trust Co SC bought a new stake in Primerica during the 4th quarter valued at $25,000. True Wealth Design LLC bought a new stake in Primerica during the 4th quarter valued at $27,000. Golden State Wealth Management LLC raised its holdings in 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 acquiring an additional 130 shares during the period. Bessemer Group Inc. raised its holdings in 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 acquiring an additional 164 shares during the period. Finally, Parallel Advisors LLC raised its holdings in Primerica by 26.9% during the 1st quarter. Parallel Advisors LLC now owns 307 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Price Performance

PRI opened at $261.79 on Thursday. Primerica, Inc. has a one year low of $230.98 and a one year high of $307.91. The company has a fifty day moving average price of $266.70 and a 200-day moving average price of $273.33. The firm has a market capitalization of $8.66 billion, a P/E ratio of 17.61 and a beta of 0.98.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share (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 company had revenue of $803.56 million during the quarter, compared to analyst estimates of $783.54 million. During the same period in the previous year, the business earned $3.91 earnings per share. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 22nd were given a $1.04 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $4.16 annualized dividend and a yield of 1.59%. Primerica’s dividend payout ratio (DPR) is presently 27.98%.

Wall Street Analysts Forecast Growth

PRI has been the topic of a number of analyst reports. Morgan Stanley boosted 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 lowered 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 research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $317.83.

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.