Burgundy Asset Management Ltd. Grows Position in Primerica, Inc. (PRI)

Burgundy Asset Management Ltd. increased its position in shares of Primerica, Inc. (NYSE:PRI) by 2.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,681,212 shares of the financial services provider’s stock after buying an additional 43,558 shares during the quarter. Burgundy Asset Management Ltd. owned about 3.80% of Primerica worth $137,103,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. World Asset Management Inc grew its stake in Primerica by 0.6% during the 2nd quarter. World Asset Management Inc now owns 2,856 shares of the financial services provider’s stock worth $216,000 after buying an additional 18 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of Primerica by 1.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,669 shares of the financial services provider’s stock valued at $278,000 after purchasing an additional 69 shares during the last quarter. Balyasny Asset Management LLC grew its stake in shares of Primerica by 0.8% in the 2nd quarter. Balyasny Asset Management LLC now owns 12,712 shares of the financial services provider’s stock valued at $963,000 after purchasing an additional 100 shares during the last quarter. Amalgamated Bank grew its stake in shares of Primerica by 1.8% in the 2nd quarter. Amalgamated Bank now owns 6,552 shares of the financial services provider’s stock valued at $496,000 after purchasing an additional 113 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Primerica by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 19,200 shares of the financial services provider’s stock valued at $1,454,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Shares of Primerica, Inc. (NYSE:PRI) traded down $2.15 during mid-day trading on Friday, hitting $101.65. The company’s stock had a trading volume of 179,900 shares, compared to its average volume of 301,544. Primerica, Inc. has a one year low of $68.60 and a one year high of $106.40. The stock has a market cap of $4,592.95, a P/E ratio of 20.27, a P/E/G ratio of 1.94 and a beta of 1.24.

Primerica (NYSE:PRI) last announced its earnings results on Tuesday, November 7th. The financial services provider reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.09. Primerica had a return on equity of 18.94% and a net margin of 14.55%. The company had revenue of $427.30 million for the quarter, compared to the consensus estimate of $425.83 million. During the same period last year, the business posted $1.22 EPS. The company’s revenue was up 11.4% on a year-over-year basis. research analysts expect that Primerica, Inc. will post 5.36 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be paid a $0.20 dividend. The ex-dividend date is Thursday, November 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.79%. Primerica’s dividend payout ratio (DPR) is presently 15.56%.

In related news, VP Gregory C. Pitts sold 5,000 shares of Primerica stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $92.40, for a total value of $462,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.86% of the stock is owned by insiders.

Several research analysts have weighed in on PRI shares. SunTrust Banks downgraded Primerica from a “buy” rating to a “hold” rating in a research note on Thursday, October 19th. They noted that the move was a valuation call. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $95.00 target price on shares of Primerica in a research note on Friday, November 10th. BidaskClub downgraded Primerica from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 18th. Finally, Zacks Investment Research upgraded Primerica from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research note on Wednesday, October 11th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $90.50.

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Primerica Profile

Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance company subsidiaries.

Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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