AE Wealth Management LLC Purchases Shares of 797 Primerica, Inc. (NYSE:PRI)

AE Wealth Management LLC acquired a new position in Primerica, Inc. (NYSE:PRI) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 797 shares of the financial services provider’s stock, valued at approximately $227,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PRI. GAMMA Investing LLC increased its stake in Primerica by 39,199.5% in the 1st quarter. GAMMA Investing LLC now owns 443,298 shares of the financial services provider’s stock worth $126,132,000 after buying an additional 442,170 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Primerica in the fourth quarter valued at about $34,191,000. AQR Capital Management LLC boosted its stake in shares of Primerica by 254.5% in the fourth quarter. AQR Capital Management LLC now owns 116,271 shares of the financial services provider’s stock worth $31,558,000 after acquiring an additional 83,477 shares during the period. Geode Capital Management LLC grew its position in shares of Primerica by 11.9% during the fourth quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider’s stock worth $211,691,000 after purchasing an additional 82,921 shares in the last quarter. Finally, FIL Ltd grew its position in shares of Primerica by 85.5% during the fourth quarter. FIL Ltd now owns 131,365 shares of the financial services provider’s stock worth $35,655,000 after purchasing an additional 60,565 shares in the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Price Performance

NYSE PRI opened at $265.77 on Friday. Primerica, Inc. has a 1-year low of $230.98 and a 1-year high of $307.91. The business has a 50 day simple moving average of $266.65 and a two-hundred day simple moving average of $273.27. The stock has a market capitalization of $8.79 billion, a PE ratio of 17.87 and a beta of 0.98.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $783.54 million. During the same period last year, the firm posted $3.91 earnings per share. Primerica’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Announces Dividend

The firm 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 1.6%. Primerica’s payout ratio is 27.98%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods lowered their price target 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 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. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.