Kayne Anderson Rudnick Investment Management Lowers stake in Primerica (PRI)

Primerica (PRI) : Kayne Anderson Rudnick Investment Management reduced its stake in Primerica by 0.1% during the most recent quarter end. The investment management company now holds a total of 3,448,944 shares of Primerica which is valued at $175.7 Million after selling 3,529 shares in Primerica , the firm said in a disclosure report filed with the SEC on May 13, 2016.Primerica makes up approximately 2.87% of Kayne Anderson Rudnick Investment Management’s portfolio.

Other Hedge Funds, Including , I.g. Investment Management Ltd. boosted its stake in PRI in the latest quarter, The investment management firm added 3,674 additional shares and now holds a total of 186,071 shares of Primerica which is valued at $9.5 Million. Primerica makes up approx 0.04% of I.g. Investment Management Ltd.’s portfolio.Bb&t Securities boosted its stake in PRI in the latest quarter, The investment management firm added 576 additional shares and now holds a total of 11,755 shares of Primerica which is valued at $598,682. Primerica makes up approx 0.01% of Bb&t Securities’s portfolio.Manufacturers Life Insurance Company The reduced its stake in PRI by selling 743 shares or 0.78% in the most recent quarter. The Hedge Fund company now holds 94,159 shares of PRI which is valued at $4.8 Million. Primerica makes up approx 0.01% of Manufacturers Life Insurance Company The’s portfolio.Princeton Alpha Management Lp reduced its stake in PRI by selling 3,283 shares or 23.55% in the most recent quarter. The Hedge Fund company now holds 10,659 shares of PRI which is valued at $536,361. Primerica makes up approx 0.09% of Princeton Alpha Management Lp’s portfolio.Bbva Compass Bancshares Inc boosted its stake in PRI in the latest quarter, The investment management firm added 2,706 additional shares and now holds a total of 9,868 shares of Primerica which is valued at $496,558. Primerica makes up approx 0.04% of Bbva Compass Bancshares Inc’s portfolio.

Primerica opened for trading at $54.28 and hit $55.35 on the upside on Wednesday, eventually ending the session at $55.06, with a gain of 1.51% or 0.82 points. The heightened volatility saw the trading volume jump to 5,28,507 shares. Company has a market cap of $2,590 M.

On the company’s financial health, Primerica reported $0.93 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.91. The company had revenue of $363.00 million for the quarter, compared to analysts expectations of $360.50 million. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS.

Primerica Inc. is a distributor of financial products and focuses on term life insurance which it underwrites and mutual funds annuities and other financial products which it distributes primarily on behalf of third parties. The Company operates through the Term Life Insurance Investment and Savings Products as well as Corporate and Other Distributed Products operating segments to organize evaluate and manage its business. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies net of reinsurance which are underwritten by its life insurance company subsidiaries. The Investment and Savings Products segment includes mutual funds managed investments and annuities distributed through licensed broker-dealer subsidiaries and includes segregated funds. The Company also has a Corporate and Other Distributed Products segment which consists primarily of revenues and expenses related to the distribution of non-core products.

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