Primerica, Inc. (NYSE:PRI) Stake Boosted by Quantum Capital Management LLC NJ

Quantum Capital Management LLC NJ lifted its stake in Primerica, Inc. (NYSE:PRI) by 1.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 409,936 shares of the financial services provider’s stock after buying an additional 4,158 shares during the quarter. Primerica accounts for approximately 7.6% of Quantum Capital Management LLC NJ’s holdings, making the stock its 5th largest position. Quantum Capital Management LLC NJ’s holdings in Primerica were worth $62,778,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PRI. Kayne Anderson Rudnick Investment Management LLC raised its stake in Primerica by 4.3% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,010,533 shares of the financial services provider’s stock valued at $592,841,000 after purchasing an additional 166,973 shares in the last quarter. BlackRock Inc. increased its position in Primerica by 3.0% during the first quarter. BlackRock Inc. now owns 3,503,909 shares of the financial services provider’s stock valued at $517,947,000 after acquiring an additional 100,932 shares during the last quarter. Brave Warrior Advisors LLC increased its position in Primerica by 13.1% during the first quarter. Brave Warrior Advisors LLC now owns 1,888,591 shares of the financial services provider’s stock valued at $279,171,000 after acquiring an additional 218,581 shares during the last quarter. Burgundy Asset Management Ltd. increased its position in Primerica by 0.3% during the first quarter. Burgundy Asset Management Ltd. now owns 1,210,294 shares of the financial services provider’s stock valued at $178,906,000 after acquiring an additional 4,178 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Primerica by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 766,120 shares of the financial services provider’s stock valued at $113,252,000 after acquiring an additional 7,222 shares during the last quarter. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have weighed in on PRI. William Blair reiterated an “outperform” rating on shares of Primerica in a research report on Monday. upped their price target on shares of Primerica from $140.00 to $144.00 and gave the stock a “sell” rating in a report on Monday, June 21st. Finally, Zacks Investment Research cut shares of Primerica from a “buy” rating to a “hold” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $166.00.

In related news, CFO Alison S. Rand sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 31st. The shares were sold at an average price of $152.20, for a total value of $228,300.00. Following the transaction, the chief financial officer now owns 13,347 shares in the company, valued at approximately $2,031,413.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Peter W. Schneider sold 3,500 shares of the stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $152.54, for a total transaction of $533,890.00. Following the completion of the transaction, the president now owns 22,672 shares in the company, valued at approximately $3,458,386.88. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Shares of NYSE PRI traded up $1.65 during mid-day trading on Tuesday, reaching $144.44. The company had a trading volume of 2,008 shares, compared to its average volume of 135,314. The business’s 50-day moving average is $148.56 and its 200-day moving average is $152.89. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.06. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 12.97 and a beta of 1.48. Primerica, Inc. has a 52 week low of $107.63 and a 52 week high of $165.35.

Primerica (NYSE:PRI) last released its quarterly earnings data on Thursday, August 5th. The financial services provider reported $3.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.88 by $0.37. Primerica had a net margin of 17.82% and a return on equity of 23.32%. The company had revenue of $654.16 million during the quarter, compared to analyst estimates of $617.60 million. As a group, equities research analysts forecast that Primerica, Inc. will post 11.63 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 14th. Shareholders of record on Friday, August 20th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Thursday, August 19th. Primerica’s payout ratio is 19.38%.

Primerica Profile

Primerica, Inc engages in the provision of financial products to middle-income households. It operates through the following segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits in the in-force book of term life insurance policies.

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Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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