BlueCrest Capital Management Ltd Acquires Shares of 3,718 Primerica, Inc. (PRI)

BlueCrest Capital Management Ltd acquired a new stake in Primerica, Inc. (NYSE:PRI) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,718 shares of the financial services provider’s stock, valued at approximately $282,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of PRI. UBS Asset Management Americas Inc. boosted its stake in Primerica by 5.6% during the 1st quarter. UBS Asset Management Americas Inc. now owns 45,681 shares of the financial services provider’s stock worth $3,755,000 after purchasing an additional 2,424 shares during the period. Prudential Financial Inc. boosted its stake in Primerica by 5.0% during the 1st quarter. Prudential Financial Inc. now owns 32,041 shares of the financial services provider’s stock worth $2,634,000 after purchasing an additional 1,528 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Primerica by 19.1% in the 1st quarter. Alliancebernstein L.P. now owns 98,597 shares of the financial services provider’s stock worth $8,105,000 after acquiring an additional 15,810 shares during the period. United Services Automobile Association acquired a new stake in shares of Primerica in the 1st quarter worth $510,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Primerica by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 220,108 shares of the financial services provider’s stock worth $18,093,000 after acquiring an additional 5,135 shares during the period. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

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PRI has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $87.00 price objective on shares of Primerica in a research note on Monday. SunTrust Banks, Inc. downgraded shares of Primerica from a “buy” rating to a “hold” rating in a report on Thursday. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Primerica from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a report on Wednesday, October 11th. Wells Fargo & Company restated a “hold” rating on shares of Primerica in a report on Tuesday, August 8th. Finally, BidaskClub upgraded shares of Primerica from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $88.50.

In other Primerica news, President Peter W. Schneider sold 1,301 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $76.92, for a total transaction of $100,072.92. Following the completion of the sale, the president now directly owns 28,138 shares of the company’s stock, valued at $2,164,374.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $80.68, for a total transaction of $242,040.00. Following the sale, the chief executive officer now directly owns 77,895 shares of the company’s stock, valued at $6,284,568.60. The disclosure for this sale can be found here. Insiders have sold 6,301 shares of company stock valued at $495,113 over the last ninety days. Insiders own 0.86% of the company’s stock.

Shares of Primerica, Inc. (NYSE:PRI) opened at 88.70 on Thursday. Primerica, Inc. has a one year low of $52.75 and a one year high of $88.75. The stock has a market capitalization of $3.98 billion, a P/E ratio of 18.07 and a beta of 1.17. The stock’s 50 day moving average is $80.05 and its 200-day moving average is $78.97.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.01. Primerica had a net margin of 14.41% and a return on equity of 18.48%. The company had revenue of $413.70 million during the quarter, compared to analyst estimates of $410.97 million. During the same period in the prior year, the firm earned $1.23 earnings per share. The business’s quarterly revenue was up 9.2% on a year-over-year basis. On average, equities research analysts expect that Primerica, Inc. will post $5.22 EPS for the current year.

Primerica Company Profile

Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. 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.

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Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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