Pacer Advisors Inc. Trims Stock Holdings in Primerica, Inc. (NYSE:PRI)

Pacer Advisors Inc. lowered its position in shares of Primerica, Inc. (NYSE:PRI) by 70.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,480 shares of the financial services provider’s stock after selling 3,495 shares during the quarter. Pacer Advisors Inc.’s holdings in Primerica were worth $421,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Burgundy Asset Management Ltd. raised its holdings in Primerica by 1.7% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,288,473 shares of the financial services provider’s stock worth $349,717,000 after purchasing an additional 21,208 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Primerica by 11.9% in the fourth quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider’s stock valued at $211,691,000 after purchasing an additional 82,921 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Primerica by 39,199.5% in the first quarter. GAMMA Investing LLC now owns 443,298 shares of the financial services provider’s stock worth $126,132,000 after purchasing an additional 442,170 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Primerica by 15.6% during the 4th quarter. Northern Trust Corp now owns 347,040 shares of the financial services provider’s stock valued at $94,194,000 after acquiring an additional 46,935 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Primerica by 1.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 230,736 shares of the financial services provider’s stock valued at $62,626,000 after buying an additional 2,905 shares during the last quarter. Institutional investors own 90.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PRI. Morgan Stanley increased their price target on 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 research note on Wednesday, April 9th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Primerica currently has an average rating of “Hold” and a consensus price target of $317.83.

Primerica Trading Down 2.3%

PRI opened at $259.45 on Friday. The company has a market cap of $8.59 billion, a P/E ratio of 17.45 and a beta of 0.99. Primerica, Inc. has a 1-year low of $230.98 and a 1-year high of $307.91. The company’s 50 day moving average is $266.50 and its 200-day moving average is $273.12.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share for the quarter, beating the consensus estimate of $4.77 by $0.25. The firm had revenue of $803.56 million for the quarter, compared to analyst estimates of $783.54 million. Primerica had a net margin of 15.82% and a return on equity of 32.30%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.91 earnings per share. On average, equities analysts forecast that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Dividend Announcement

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 dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Thursday, May 22nd. Primerica’s dividend payout ratio is currently 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.