Kayne Anderson Rudnick Investment Management LLC Has $968.31 Million Stock Position in Primerica, Inc. (NYSE:PRI)

Kayne Anderson Rudnick Investment Management LLC trimmed its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 1.5% during the fourth quarter, according to its most recent disclosure 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 period. Primerica comprises about 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 10.69% of Primerica worth $968,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in shares of Primerica in the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC grew its holdings in shares of Primerica by 129.1% during the fourth 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 last quarter. Venturi Wealth Management LLC increased its stake in shares of Primerica by 116.2% in the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider's stock valued at $58,000 after buying an additional 115 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Primerica by 65.5% in the fourth quarter. UMB Bank n.a. now owns 240 shares of the financial services provider's stock valued at $65,000 after buying an additional 95 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Primerica by 182.2% in 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 last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wall Street Zen lowered shares of Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. Keefe, Bruyette & Woods decreased their price target on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 9th. Finally, Morgan Stanley raised their price target on shares of Primerica from $274.00 to $296.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Primerica has a consensus rating of "Hold" and a consensus price target of $308.00.

Primerica Price Performance

Shares of NYSE PRI traded up $5.96 during mid-day trading on Tuesday, hitting $272.53. The company's stock had a trading volume of 161,448 shares, compared to its average volume of 157,546. Primerica, Inc. has a one year low of $219.52 and a one year high of $307.91. The company's fifty day simple moving average is $267.62 and its 200-day simple moving average is $279.55. The stock has a market cap of $9.02 billion, a price-to-earnings ratio of 19.82 and a beta of 1.02.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.77 by $0.25. The firm had revenue of $803.56 million for the quarter, compared to analysts' expectations of $783.54 million. Primerica had a net margin of 15.14% and a return on equity of 31.11%. The business's revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the firm earned $3.91 earnings per share. On average, sell-side analysts predict that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.53%. Primerica's dividend payout ratio (DPR) is presently 27.98%.

Insider Activity at Primerica

In related news, insider Nicholas Adam Jendusa sold 234 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total transaction of $65,555.10. Following the sale, the insider now owns 200 shares of the company's stock, valued at approximately $56,030. This trade represents a 53.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the transaction, the president now owns 13,301 shares in the company, valued at approximately $3,762,852.90. This represents a 13.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is currently 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.