Bamco Inc. NY Has $249.33 Million Holdings in Primerica (PRI)

Bamco Inc. NY lowered its stake in shares of Primerica (NYSE:PRI) by 3.8% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,581,081 shares of the financial services provider’s stock after selling 102,484 shares during the period. Primerica makes up approximately 1.1% of Bamco Inc. NY’s portfolio, making the stock its 21st biggest holding. Bamco Inc. NY owned about 5.83% of Primerica worth $249,332,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Stevens Capital Management LP boosted its stake in Primerica by 54.2% during the 1st quarter. Stevens Capital Management LP now owns 5,576 shares of the financial services provider’s stock valued at $539,000 after purchasing an additional 1,960 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Primerica by 0.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 253,666 shares of the financial services provider’s stock valued at $24,504,000 after purchasing an additional 871 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Primerica by 3.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 344,066 shares of the financial services provider’s stock valued at $33,237,000 after purchasing an additional 12,493 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in Primerica during the 1st quarter valued at about $660,000. Finally, Chicago Equity Partners LLC lifted its position in shares of Primerica by 19.1% during the 1st quarter. Chicago Equity Partners LLC now owns 13,350 shares of the financial services provider’s stock worth $1,290,000 after buying an additional 2,140 shares in the last quarter. Institutional investors and hedge funds own 91.11% of the company’s stock.

Primerica stock opened at $97.45 on Friday. Primerica has a 52 week low of $94.55 and a 52 week high of $95.70. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 1.32 and a beta of 1.14.

Primerica (NYSE:PRI) last posted its earnings results on Tuesday, May 8th. The financial services provider reported $1.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.49 by ($0.02). Primerica had a return on equity of 19.88% and a net margin of 20.87%. The firm had revenue of $459.92 million for the quarter, compared to the consensus estimate of $459.83 million. During the same period in the prior year, the business earned $1.11 EPS. Primerica’s quarterly revenue was up 13.5% compared to the same quarter last year. sell-side analysts forecast that Primerica will post 7.21 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Tuesday, May 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, May 21st. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. Primerica’s dividend payout ratio is currently 18.12%.

Primerica announced that its board has approved a share repurchase program on Wednesday, February 7th that authorizes the company to repurchase $225.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Several research firms have commented on PRI. SunTrust Banks lifted their target price on shares of Primerica to $112.00 and gave the stock a “hold” rating in a research report on Monday, January 22nd. ValuEngine raised shares of Primerica from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research cut shares of Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 27th. Finally, Wells Fargo set a $102.00 target price on shares of Primerica and gave the stock a “hold” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $101.25.

In related news, President Peter W. Schneider sold 991 shares of Primerica stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $100.97, for a total value of $100,061.27. Following the sale, the president now owns 25,881 shares of the company’s stock, valued at approximately $2,613,204.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Alison S. Rand sold 10,000 shares of Primerica stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $102.49, for a total transaction of $1,024,900.00. Following the completion of the sale, the vice president now directly owns 26,861 shares in the company, valued at approximately $2,752,983.89. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,482 shares of company stock worth $1,474,873. Insiders own 0.89% of the company’s stock.

Primerica 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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