Ruane Cunniff Goldfarb Inc buys $215,016,485 stake in Primerica (PRI)

Primerica (PRI) : Ruane Cunniff Goldfarb Inc scooped up 898,291 additional shares in Primerica during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 15, 2016. The investment management firm now holds a total of 3,780,842 shares of Primerica which is valued at $215,016,485.Primerica makes up approximately 1.99% of Ruane Cunniff Goldfarb Inc’s portfolio.

Other Hedge Funds, Including , Foundry Partners boosted its stake in PRI in the latest quarter, The investment management firm added 2,025 additional shares and now holds a total of 8,090 shares of Primerica which is valued at $469,139. Primerica makes up approx 0.04% of Foundry Partners’s portfolio.Weaver C. Barksdale Associates reduced its stake in PRI by selling 32 shares or 22.22% in the most recent quarter. The Hedge Fund company now holds 112 shares of PRI which is valued at $6,495. Primerica makes up approx 0.01% of Weaver C. Barksdale Associates’s portfolio.

Primerica closed down -0.56 points or -0.98% at $56.87 with 3,09,318 shares getting traded on Monday. Post opening the session at $57.24, the shares hit an intraday low of $56.84 and an intraday high of $57.58 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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.

Many Wall Street Analysts have commented on Primerica. Primerica was Downgraded by Keefe Bruyette to ” Mkt Perform” on Jul 12, 2016.

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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