Primerica, Inc. $PRI is Burgundy Asset Management Ltd.'s 2nd Largest Position

Key Points

• Burgundy Asset Management Ltd. has increased its holdings in Primerica, Inc. by 1.7%, acquiring an additional 21,546 shares, now holding a total of 1,310,019 shares valued at approximately $372.74 million.
• Primerica experienced a slight decrease of 0.6% in its stock price, with shares recently trading around $261.36, while analysts project a 20.6 earnings per share for the current fiscal year.
• The company declared a quarterly dividend of $1.04 per share, yielding 1.6%, which will be paid to shareholders on September 15th.

Burgundy Asset Management Ltd. lifted its position in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 1.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,310,019 shares of the financial services provider's stock after purchasing an additional 21,546 shares during the quarter. Primerica comprises approximately 3.9% of Burgundy Asset Management Ltd.'s holdings, making the stock its 2nd largest holding. Burgundy Asset Management Ltd. owned approximately 3.96% of Primerica worth $372,740,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PRI. Cerity Partners LLC grew its holdings in shares of Primerica by 15.2% during the 4th quarter. Cerity Partners LLC now owns 4,274 shares of the financial services provider's stock worth $1,139,000 after purchasing an additional 565 shares during the period. Barclays PLC grew its holdings in shares of Primerica by 43.4% during the 4th quarter. Barclays PLC now owns 29,347 shares of the financial services provider's stock worth $7,964,000 after purchasing an additional 8,876 shares during the period. Mariner LLC grew its holdings in shares of Primerica by 1.4% during the 4th quarter. Mariner LLC now owns 2,611 shares of the financial services provider's stock worth $709,000 after purchasing an additional 36 shares during the period. Marshall Wace LLP purchased a new stake in shares of Primerica during the 4th quarter worth about $1,230,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Primerica during the 4th quarter worth about $1,981,000. Hedge funds and other institutional investors own 90.88% of the company's stock.

Wall Street Analysts Forecast Growth

PRI has been the subject of a number of research reports. Morgan Stanley boosted their target price on Primerica from $292.00 to $308.00 and gave the stock an "equal weight" rating in a report on Monday. Jefferies Financial Group lowered their price objective on shares of Primerica from $293.00 to $283.00 and set a "hold" rating for the company in a research report on Monday, August 11th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research report on Monday, August 11th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $315.29.

Primerica Trading Down 0.1%

NYSE:PRI traded down $0.2560 during trading hours on Wednesday, hitting $267.3640. The stock had a trading volume of 155,193 shares, compared to its average volume of 170,353. Primerica, Inc. has a 1-year low of $230.98 and a 1-year high of $307.91. The business has a 50 day simple moving average of $265.13 and a two-hundred day simple moving average of $270.65. The company has a market cap of $8.66 billion, a PE ratio of 13.21 and a beta of 0.99.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.18 by $0.28. The company had revenue of $796.02 million during the quarter, compared to the consensus estimate of $790.99 million. Primerica had a net margin of 21.48% and a return on equity of 32.42%. Primerica's revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the company earned $4.71 earnings per share. Research analysts expect that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 22nd will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, August 22nd. Primerica's dividend payout ratio is 20.55%.

Insider Activity at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $262.20, for a total transaction of $655,500.00. Following the completion of the transaction, the chief executive officer directly owned 36,392 shares in the company, valued at approximately $9,541,982.40. This represents a 6.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.61% of the company's stock.

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.