Primerica, Inc. (NYSE:PRI) Shares Bought by Assetmark Inc.

Assetmark Inc. grew its stake in shares of Primerica, Inc. (NYSE:PRI) by 17.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,778 shares of the financial services provider’s stock after purchasing an additional 260 shares during the period. Assetmark Inc.’s holdings in Primerica were worth $506,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in Primerica by 39,199.5% during the first quarter. GAMMA Investing LLC now owns 443,298 shares of the financial services provider’s stock valued at $126,132,000 after buying an additional 442,170 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Primerica during the fourth quarter worth approximately $34,191,000. AQR Capital Management LLC raised its holdings in shares of Primerica by 254.5% during 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 in the last quarter. Geode Capital Management LLC grew its stake in shares of Primerica by 11.9% in the 4th quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider’s stock valued at $211,691,000 after buying an additional 82,921 shares in the last quarter. Finally, FIL Ltd raised its holdings in shares of Primerica by 85.5% during the 4th quarter. FIL Ltd now owns 131,365 shares of the financial services provider’s stock valued at $35,655,000 after purchasing an additional 60,565 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Wall Street Analyst Weigh In

PRI has been the subject of a number of analyst reports. Morgan Stanley boosted their price objective on shares of Primerica from $274.00 to $296.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. Keefe, Bruyette & Woods cut their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research note on Wednesday, April 9th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $317.83.

Primerica Stock Down 2.3%

Primerica stock opened at $259.45 on Friday. The stock has a market capitalization of $8.59 billion, a price-to-earnings ratio of 17.45 and a beta of 0.99. The stock has a 50-day simple moving average of $266.50 and a 200 day simple moving average of $273.12. Primerica, Inc. has a 12-month low of $230.98 and a 12-month high of $307.91.

Primerica (NYSE:PRI) last issued its quarterly 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 company had revenue of $803.56 million during the quarter, compared to analysts’ expectations of $783.54 million. During the same quarter in the previous year, the company earned $3.91 EPS. Primerica’s revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 22nd were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Thursday, May 22nd. Primerica’s payout ratio is presently 27.98%.

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.