Primerica, Inc. (NYSE:PRI) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in Primerica, Inc. (NYSE:PRI) by 3.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,716 shares of the financial services provider’s stock after selling 347 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Primerica were worth $2,480,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PRI. GAMMA Investing LLC lifted its holdings in Primerica by 39,199.5% in the first quarter. GAMMA Investing LLC now owns 443,298 shares of the financial services provider’s stock valued at $126,132,000 after acquiring an additional 442,170 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Primerica during the 4th quarter valued at approximately $34,191,000. AQR Capital Management LLC increased its holdings in shares of Primerica by 254.5% during the 4th quarter. AQR Capital Management LLC now owns 116,271 shares of the financial services provider’s stock valued at $31,558,000 after purchasing an additional 83,477 shares in the last quarter. Geode Capital Management LLC lifted 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 purchasing an additional 82,921 shares during the period. Finally, FIL Ltd boosted its holdings in 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 buying an additional 60,565 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Stock Performance

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

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

Primerica Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods cut their price objective on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a report on Wednesday, April 9th. Morgan Stanley raised their target price on Primerica from $274.00 to $296.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $317.83.

Primerica 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.