Kayne Anderson Rudnick Investment Management LLC Cuts Holdings in Primerica, Inc. $PRI

Key Points

• Kayne Anderson Rudnick Investment Management LLC has reduced its stake in Primerica, Inc. by 0.1%, now holding 3,563,332 shares, marking it as the firm's most significant investment at approximately $1 billion.
• Primerica's stock performance shows a 1-year low of $230.98 and a high of $307.91, with a current market cap of $8.74 billion and a PE ratio of 13.34.
• The company has declared a quarterly dividend of $1.04 per share, resulting in a 1.5% dividend yield, with a payout ratio currently at 20.55%.

Kayne Anderson Rudnick Investment Management LLC decreased its position in Primerica, Inc. (NYSE:PRI - Free Report) by 0.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,563,332 shares of the financial services provider's stock after selling 4,249 shares during the quarter. Primerica comprises approximately 2.5% of Kayne Anderson Rudnick Investment Management LLC's holdings, making the stock its largest position. Kayne Anderson Rudnick Investment Management LLC owned approximately 10.77% of Primerica worth $1,013,875,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PRI. Mariner LLC increased its position in Primerica by 1.4% in 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 last quarter. HB Wealth Management LLC increased its holdings in shares of Primerica by 1.9% during the 1st quarter. HB Wealth Management LLC now owns 2,088 shares of the financial services provider's stock valued at $594,000 after acquiring an additional 38 shares during the last quarter. Applied Finance Capital Management LLC boosted its stake in Primerica by 5.3% during the 1st quarter. Applied Finance Capital Management LLC now owns 839 shares of the financial services provider's stock valued at $239,000 after purchasing an additional 42 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in Primerica by 1.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,095 shares of the financial services provider's stock valued at $881,000 after purchasing an additional 44 shares during the period. Finally, Xponance Inc. lifted its position in shares of Primerica by 1.2% in the 1st quarter. Xponance Inc. now owns 3,945 shares of the financial services provider's stock worth $1,122,000 after acquiring an additional 47 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PRI shares. Jefferies Financial Group reduced their price objective on Primerica from $293.00 to $283.00 and set a "hold" rating for the company in a research report on Monday, August 11th. Morgan Stanley raised their price target on Primerica from $292.00 to $308.00 and gave the company an "equal weight" rating in a report on Monday, August 18th. Finally, Keefe, Bruyette & Woods lifted their target price on Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research note on Monday, August 11th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $315.29.

Insider Activity at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $262.20, for a total value of $655,500.00. Following the sale, the chief executive officer directly owned 36,392 shares in the company, valued at $9,541,982.40. The trade was a 6.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.61% of the stock is currently owned by company insiders.

Primerica Stock Performance

NYSE:PRI traded down $1.43 on Thursday, reaching $268.17. The company's stock had a trading volume of 148,464 shares, compared to its average volume of 169,469. Primerica, Inc. has a 1-year low of $230.98 and a 1-year high of $307.91. The firm has a market cap of $8.69 billion, a PE ratio of 13.25 and a beta of 0.99. The business's 50-day moving average price is $266.16 and its two-hundred day moving average price is $269.73.

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

Primerica Announces Dividend

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

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.