Primerica, Inc. $PRI is Kayne Anderson Rudnick Investment Management LLC's Largest Position

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 holdings in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 0.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,563,332 shares of the financial services provider's stock after selling 4,249 shares during the quarter. Primerica accounts for approximately 2.5% of Kayne Anderson Rudnick Investment Management LLC's investment portfolio, making the stock its largest position. Kayne Anderson Rudnick Investment Management LLC owned 10.77% of Primerica worth $1,013,875,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Nuveen LLC acquired a new position in shares of Primerica during the first quarter worth approximately $156,019,000. GAMMA Investing LLC raised its position in shares of Primerica by 39,199.5% during the first quarter. GAMMA Investing LLC now owns 443,298 shares of the financial services provider's stock worth $126,132,000 after purchasing an additional 442,170 shares during the period. AQR Capital Management LLC raised its position in shares of Primerica by 254.5% during the fourth quarter. AQR Capital Management LLC now owns 116,271 shares of the financial services provider's stock worth $31,558,000 after purchasing an additional 83,477 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of Primerica by 2,508.8% during the fourth quarter. Cubist Systematic Strategies LLC now owns 57,499 shares of the financial services provider's stock worth $15,606,000 after purchasing an additional 55,295 shares during the period. Finally, Northern Trust Corp raised its position in shares of Primerica by 15.6% during the fourth quarter. Northern Trust Corp now owns 347,040 shares of the financial services provider's stock worth $94,194,000 after purchasing an additional 46,935 shares during the period. Institutional investors and hedge funds own 90.88% of the company's stock.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the business's stock in a transaction on 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 of the company's stock, valued at approximately $9,541,982.40. The trade was a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.61% of the company's stock.

Primerica Price Performance

Primerica stock traded up $1.45 during trading hours on Friday, reaching $269.94. The company had a trading volume of 50,463 shares, compared to its average volume of 168,728. The company has a 50-day moving average price of $266.33 and a 200 day moving average price of $269.55. The firm has a market cap of $8.74 billion, a price-to-earnings ratio of 13.34 and a beta of 0.99. Primerica, Inc. has a 12-month low of $230.98 and a 12-month high of $307.91.

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 for the quarter, topping analysts' consensus estimates of $5.18 by $0.28. The firm had revenue of $796.02 million for the quarter, compared to analyst estimates of $790.99 million. Primerica had a return on equity of 32.42% and a net margin of 21.48%.The business's quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the company earned $4.71 EPS. As a group, research analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 22nd will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 22nd. Primerica's payout ratio is 20.55%.

Analyst Ratings Changes

A number of equities research analysts recently commented on PRI shares. Jefferies Financial Group lowered their price target 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 increased their price target on Primerica from $292.00 to $308.00 and gave the stock an "equal weight" rating in a research note on Monday, August 18th. Finally, Keefe, Bruyette & Woods raised their target price on Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a research note on Monday, August 11th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $315.29.

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.