Banque Cantonale Vaudoise Purchases New Shares in Primerica, Inc. (NYSE:PRI)

Banque Cantonale Vaudoise purchased a new position in shares of Primerica, Inc. (NYSE:PRI) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,115 shares of the financial services provider’s stock, valued at approximately $602,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of PRI. Colonial Trust Co SC purchased a new position in Primerica during the 4th quarter worth $25,000. True Wealth Design LLC purchased a new stake in shares of Primerica in the fourth quarter valued at about $27,000. Golden State Wealth Management LLC increased its stake in shares of Primerica by 105.7% during the first quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 130 shares during the period. Bessemer Group Inc. raised its holdings in Primerica by 182.2% during the fourth quarter. Bessemer Group Inc. now owns 254 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 164 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in Primerica by 26.9% in the first 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 during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Trading Down 2.3%

Shares of Primerica stock opened at $259.45 on Friday. The company has a 50-day moving average of $266.50 and a two-hundred day moving average of $273.12. Primerica, Inc. has a 12-month low of $230.98 and a 12-month high of $307.91. The stock has a market cap of $8.59 billion, a PE ratio of 17.45 and a beta of 0.99.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share for the quarter, topping analysts’ consensus estimates of $4.77 by $0.25. The business had revenue of $803.56 million for 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 company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.91 EPS. On average, sell-side analysts forecast that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 22nd were given 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 dividend payout ratio (DPR) is currently 27.98%.

Analyst Ratings Changes

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