Everhart Financial Group Inc. Increases Holdings in Primerica, Inc. (NYSE:PRI)

Everhart Financial Group Inc. lifted its position in shares of Primerica, Inc. (NYSE:PRI) by 5.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 2,826 shares of the financial services provider’s stock after acquiring an additional 150 shares during the quarter. Everhart Financial Group Inc.’s holdings in Primerica were worth $804,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Colonial Trust Co SC bought a new position in Primerica during the 4th quarter worth about $25,000. True Wealth Design LLC bought a new stake in shares of Primerica in the 4th quarter valued at about $27,000. EverSource Wealth Advisors LLC lifted its position in shares of Primerica by 129.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 71 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of Primerica by 116.2% during the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 115 shares in the last quarter. Finally, Bessemer Group Inc. increased 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 valued at $69,000 after buying an additional 164 shares during the period. 90.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PRI has been the subject of a number of analyst reports. Keefe, Bruyette & Woods lowered their target price on 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 boosted their price target on Primerica from $274.00 to $296.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Six 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 company currently has a consensus rating of “Hold” and an average price target of $308.00.

Primerica Stock Down 1.3%

NYSE PRI opened at $257.75 on Friday. Primerica, Inc. has a 52 week low of $219.52 and a 52 week high of $307.91. The company has a 50 day moving average price of $264.27 and a 200 day moving average price of $276.59. The firm has a market cap of $8.53 billion, a PE ratio of 18.75 and a beta of 0.99.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.77 by $0.25. Primerica had a return on equity of 31.11% and a net margin of 15.14%. The business had revenue of $803.56 million for the quarter, compared to the consensus estimate of $783.54 million. During the same period in the prior year, the firm posted $3.91 earnings per share. The business’s quarterly revenue was up 8.3% on a year-over-year basis. On average, equities research analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 22nd were paid a dividend of $1.04 per share. The ex-dividend date was Thursday, May 22nd. This represents a $4.16 annualized dividend and a yield of 1.61%. Primerica’s dividend payout ratio (DPR) is 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.