Quantum Capital Management Nj Lowers stake in Primerica (PRI)

Primerica (PRI) : Quantum Capital Management Nj reduced its stake in Primerica by 20.06% during the most recent quarter end. The investment management company now holds a total of 400,214 shares of Primerica which is valued at $22,151,845 after selling 100,444 shares in Primerica , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Primerica makes up approximately 7.34% of Quantum Capital Management Nj’s portfolio.

Other Hedge Funds, Including , Lebenthal Asset Management added PRI to its portfolio by purchasing 45,581 company shares during the most recent quarter which is valued at $2,522,908. Primerica makes up approx 0.32% of Lebenthal Asset Management’s portfolio.Denver Investment Advisors reduced its stake in PRI by selling 116,212 shares or 36.22% in the most recent quarter. The Hedge Fund company now holds 204,678 shares of PRI which is valued at $11,554,073. Primerica makes up approx 0.50% of Denver Investment Advisors’s portfolio.Agf Investments reduced its stake in PRI by selling 22,511 shares or 2.17% in the most recent quarter. The Hedge Fund company now holds 1,017,043 shares of PRI which is valued at $51,218,285. Primerica makes up approx 0.56% of Agf Investments’s portfolio. Pitcairn Co added PRI to its portfolio by purchasing 4,023 company shares during the most recent quarter which is valued at $209,880. Primerica makes up approx 0.03% of Pitcairn Co’s portfolio. Fox Run Management L.l.c. added PRI to its portfolio by purchasing 8,700 company shares during the most recent quarter which is valued at $457,011. Primerica makes up approx 0.21% of Fox Run Management L.l.c.’s portfolio.

Primerica opened for trading at $55.81 and hit $56.21 on the upside on Tuesday, eventually ending the session at $55.79, with a gain of 0.74% or 0.41 points. The heightened volatility saw the trading volume jump to 1,96,655 shares. Company has a market cap of $2,593 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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