Smith Asset Management Group LP Acquires 1,190 Shares of Primerica, Inc. (PRI)

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Smith Asset Management Group LP raised its holdings in shares of Primerica, Inc. (NYSE:PRI) by 5.3% in the 3rd quarter, Holdings Channel reports. The fund owned 23,770 shares of the financial services provider’s stock after purchasing an additional 1,190 shares during the quarter. Smith Asset Management Group LP’s holdings in Primerica were worth $2,865,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PRI. Prana Capital Management LP acquired a new position in shares of Primerica in the 2nd quarter valued at $12,256,000. Cantillon Capital Management LLC grew its holdings in shares of Primerica by 10.3% in the 2nd quarter. Cantillon Capital Management LLC now owns 1,006,041 shares of the financial services provider’s stock valued at $100,202,000 after buying an additional 94,295 shares during the period. Voya Investment Management LLC grew its holdings in shares of Primerica by 12.8% in the 2nd quarter. Voya Investment Management LLC now owns 637,383 shares of the financial services provider’s stock valued at $63,483,000 after buying an additional 72,436 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Primerica by 7.0% in the 2nd quarter. Victory Capital Management Inc. now owns 836,026 shares of the financial services provider’s stock valued at $83,268,000 after buying an additional 54,363 shares during the period. Finally, Macquarie Group Ltd. grew its holdings in shares of Primerica by 8.5% in the 2nd quarter. Macquarie Group Ltd. now owns 532,975 shares of the financial services provider’s stock valued at $53,084,000 after buying an additional 41,870 shares during the period. Institutional investors own 88.53% of the company’s stock.

PRI has been the subject of several research analyst reports. Citigroup lowered shares of Primerica from a “neutral” rating to a “sell” rating and boosted their price target for the company from $100.00 to $108.00 in a report on Tuesday, September 18th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $112.00 price target on shares of Primerica in a report on Thursday, July 19th. ValuEngine lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, October 12th. SunTrust Banks boosted their price target on shares of Primerica to $118.00 and gave the company a “hold” rating in a report on Monday, July 30th. Finally, Zacks Investment Research raised shares of Primerica from a “sell” rating to a “hold” rating in a report on Wednesday, July 11th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $114.40.

Shares of PRI stock opened at $115.93 on Wednesday. Primerica, Inc. has a 12-month low of $87.80 and a 12-month high of $128.35. The firm has a market capitalization of $4.89 billion, a PE ratio of 21.00 and a beta of 1.16.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Tuesday, November 6th. The financial services provider reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.07. The company had revenue of $484.78 million during the quarter, compared to analyst estimates of $478.87 million. Primerica had a net margin of 21.55% and a return on equity of 21.07%. The firm’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.46 EPS. Sell-side analysts expect that Primerica, Inc. will post 7.18 earnings per share for the current fiscal year.

In related news, VP Gregory C. Pitts sold 2,449 shares of the company’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $122.28, for a total value of $299,463.72. Following the completion of the transaction, the vice president now directly owns 12,609 shares of the company’s stock, valued at approximately $1,541,828.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider William A. Kelly sold 856 shares of the company’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $109.93, for a total transaction of $94,100.08. Following the completion of the transaction, the insider now directly owns 14,416 shares of the company’s stock, valued at $1,584,750.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,962 shares of company stock valued at $1,937,964. Company insiders own 0.89% of the company’s stock.

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Primerica Company Profile

Primerica, Inc, together with its subsidiaries, distributes financial products to middle income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.

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Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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