Cantillon Capital Management adds Primerica (PRI) to its portfolio

Primerica (PRI) : Cantillon Capital Management added new position in Primerica during the most recent quarter end. The investment management firm now holds 1,110,739 shares of Primerica which is valued at $55,936,816 , the company said in a statement filed on Aug 3, 2016 with the SEC.Primerica makes up approximately 0.89% of Cantillon Capital Management’s portfolio.

Other Hedge Funds, Including , Great West Life Assurance Co Can boosted its stake in PRI in the latest quarter, The investment management firm added 22,352 additional shares and now holds a total of 28,087 shares of Primerica which is valued at $1,414,461.American Century Companies Inc reduced its stake in PRI by selling 41,487 shares or 21.95% in the most recent quarter. The Hedge Fund company now holds 147,529 shares of PRI which is valued at $7,696,588. Primerica makes up approx 0.01% of American Century Companies Inc’s portfolio. Washington Trust Bank added PRI to its portfolio by purchasing 60 company shares during the most recent quarter which is valued at $3,471.

Primerica opened for trading at $52.39 and hit $52.58 on the upside on Monday, eventually ending the session at $52.34, with a gain of 0.06% or 0.03 points. The heightened volatility saw the trading volume jump to 5,30,436 shares. Company has a market cap of $2,462 M.

On the company’s financial health, Primerica reported $1.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.17 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $1.06. The company had revenue of $379.24 million for the quarter, compared to analysts expectations of $370.76 million. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 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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