Kayne Anderson Rudnick Investment Management LLC Sells 55,327 Shares of Primerica, Inc. (NYSE:PRI)

Kayne Anderson Rudnick Investment Management LLC trimmed its holdings in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,567,581 shares of the financial services provider's stock after selling 55,327 shares during the quarter. Primerica makes up approximately 2.2% of Kayne Anderson Rudnick Investment Management LLC's investment portfolio, making the stock its 2nd largest position. Kayne Anderson Rudnick Investment Management LLC owned approximately 10.69% of Primerica worth $968,313,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Barclays PLC raised its stake in Primerica by 108.1% in the 3rd quarter. Barclays PLC now owns 20,471 shares of the financial services provider's stock valued at $5,428,000 after purchasing an additional 10,635 shares during the last quarter. Sylvest Advisors LLC purchased a new stake in Primerica in the 4th quarter valued at $543,000. California Public Employees Retirement System grew its holdings in Primerica by 59.4% in the 4th quarter. California Public Employees Retirement System now owns 111,720 shares of the financial services provider's stock valued at $30,323,000 after buying an additional 41,612 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in Primerica by 10.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider's stock valued at $32,573,000 after buying an additional 11,612 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Primerica by 4,150.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,123 shares of the financial services provider's stock valued at $1,120,000 after buying an additional 4,026 shares in the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Stock Performance

Shares of NYSE PRI traded up $1.31 during mid-day trading on Thursday, reaching $269.64. 96,371 shares of the company's stock were exchanged, compared to its average volume of 156,936. The company's 50-day moving average is $266.52 and its 200-day moving average is $279.21. Primerica, Inc. has a 52-week low of $219.52 and a 52-week high of $307.91. The firm has a market capitalization of $8.92 billion, a price-to-earnings ratio of 19.61 and a beta of 1.02.

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

Primerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 22nd will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Thursday, May 22nd. Primerica's payout ratio is 27.98%.

Analysts Set New Price Targets

Several brokerages have issued reports on PRI. Keefe, Bruyette & Woods dropped 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 increased their price target on Primerica from $274.00 to $296.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Finally, Wall Street Zen cut Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $308.00.

Insider Buying and Selling

In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the sale, the insider now owns 200 shares of the company's stock, valued at $56,030. This trade represents a 53.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Peter W. Schneider sold 2,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the completion of the sale, the president now directly owns 13,301 shares in the company, valued at $3,762,852.90. This represents a 13.07% decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

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.