Kayne Anderson Rudnick Investment Management LLC Has $363.97 Million Position in Primerica (PRI)

Kayne Anderson Rudnick Investment Management LLC increased its stake in Primerica (NYSE:PRI) by 4.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,767,799 shares of the financial services provider’s stock after buying an additional 147,816 shares during the period. Primerica accounts for about 2.7% of Kayne Anderson Rudnick Investment Management LLC’s portfolio, making the stock its 5th largest position. Kayne Anderson Rudnick Investment Management LLC owned 0.09% of Primerica worth $363,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Primerica by 0.9% in the 4th quarter. BlackRock Inc. now owns 4,679,499 shares of the financial services provider’s stock worth $475,203,000 after buying an additional 39,870 shares during the period. Bamco Inc. NY increased its stake in Primerica by 0.3% in the 4th quarter. Bamco Inc. NY now owns 2,683,565 shares of the financial services provider’s stock worth $272,516,000 after buying an additional 7,350 shares during the period. Wells Fargo & Company MN increased its stake in Primerica by 2.3% in the 1st quarter. Wells Fargo & Company MN now owns 838,510 shares of the financial services provider’s stock worth $81,000,000 after buying an additional 19,142 shares during the period. AGF Investments Inc. increased its stake in Primerica by 0.9% in the 4th quarter. AGF Investments Inc. now owns 689,082 shares of the financial services provider’s stock worth $69,976,000 after buying an additional 6,126 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in Primerica by 3.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 344,066 shares of the financial services provider’s stock worth $33,237,000 after buying an additional 12,493 shares during the period. 88.50% of the stock is currently owned by institutional investors.

In other news, VP Alison S. Rand sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $102.49, for a total value of $1,024,900.00. Following the sale, the vice president now directly owns 26,861 shares in the company, valued at approximately $2,752,983.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert F. Mccullough sold 500 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $95.90, for a total transaction of $47,950.00. Following the completion of the sale, the director now owns 18,585 shares in the company, valued at $1,782,301.50. The disclosure for this sale can be found here. Insiders sold a total of 14,482 shares of company stock worth $1,474,873 over the last 90 days. Company insiders own 0.89% of the company’s stock.

Several research analysts have issued reports on the stock. ValuEngine cut shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, April 13th. Wells Fargo set a $102.00 target price on shares of Primerica and gave the stock a “hold” rating in a report on Wednesday, February 7th. Zacks Investment Research cut shares of Primerica from a “hold” rating to a “sell” rating in a report on Friday, May 11th. Finally, SunTrust Banks increased their target price on shares of Primerica to $112.00 and gave the stock a “hold” rating in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $101.25.

Shares of Primerica stock opened at $98.60 on Tuesday. Primerica has a 1 year low of $70.00 and a 1 year high of $108.05. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 1.36 and a beta of 1.14.

Primerica (NYSE:PRI) last issued its earnings results on Tuesday, May 8th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.49 by ($0.02). Primerica had a return on equity of 19.88% and a net margin of 20.87%. The business had revenue of $459.92 million for the quarter, compared to the consensus estimate of $459.83 million. During the same quarter in the previous year, the company earned $1.11 earnings per share. The firm’s revenue was up 13.5% on a year-over-year basis. equities analysts anticipate that Primerica will post 7.21 earnings per share for the current year.

Primerica announced that its board has authorized a share repurchase plan on Wednesday, February 7th that permits the company to repurchase $225.00 million in outstanding shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Tuesday, May 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Monday, May 21st. Primerica’s dividend payout ratio is currently 18.12%.

About Primerica

Primerica, Inc, together with its subsidiaries, distributes financial products to middle income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.

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Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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