Primerica Inc. (NYSE: PRI) is a financial services company based in Duluth, Georgia. The company's primary mission is to offer products and advisory services, including life insurance, investment and saving products, to middle-income Americans. For the fiscal year ending Dec. 31, 2015, the company posted $1.41 billion in revenues and $189.9 million in net income. As of close of trading on Aug. 2, 2016, the company had a market capitalization of $2.37 billion. Primerica shareholders include large financial institutions.
Fidelity Management and Research LLC
Fidelity Management and Research LLC held 4.04 million shares of Primerica stock, which is 8.59% of the shares outstanding, as of March 30, 2016. Fidelity's stake in Primerica was valued at $202.1 million as of Aug. 2, 2016. Fidelity was founded in 1946 and is one of the largest asset management businesses in the world. The firm held total assets under management (AUM) of about $5.2 trillion as of Dec. 31, 2015, and actively manages $2 trillion in client assets. The firm provides a wide range of investment services, including research, clearing, custodian, investment products, brokerage and trading services. The Fidelity Advisor Small Cap Fund ("FSCIX") holds 1.21 million shares of the firm's overall holdings in Primerica.
Ruane, Cunniff & Goldfarb Inc.
Ruane, Cunniff & Goldfarb Inc. holds a stake in Primerica that is valued at $189.2 million as of Aug. 2, 2016. The firm held 3.78 million shares, or 8.04% of the shares outstanding, as of its latest 13F filing on June 29, 2016. Ruane, Cunniff & Goldfarb Inc. is the investment advisory entity that runs Sequoia Funds Inc. The group, which is based in New York City, seeks long-term appreciation of capital and invests in equities that are undervalued and have the potential for above-average growth. The firm carefully analyzes the balance sheets, income statements and cash flow statements of prospective companies and avoids technical analysis when making investment decisions.
Vanguard Group Inc.
Vanguard Group Inc. held 3.65 million shares of stock in Primerica as of March 30, 2016, which represents 7.75% of the shares outstanding. Vanguard's stake was valued at $182.5 million as of Aug. 2, 2016. Vanguard operates one of the largest investment companies in the world. The firm has 14,000 employees in 16 offices across the globe. Founded in 1975, Vanguard had more than $3 trillion in AUM, as of Dec. 31, 2015. The firm offers about 175 U.S. funds, including annuity portfolios and 145 funds in markets outside the United States.
Baron Capital Management Inc. New York
Baron Capital Management Inc. New York (Bamco) holds 7.61% of the shares outstanding in Primerica as of March 30, 2016. The firm's stake of 3.58 million shares is valued at $179.2 million as of Aug. 2, 2016. Bamco operates as a registered investment advisor and is based in New York, New York. The firm has an estimated $18.62 billion in client AUM and provides investment advisory services to 25 clients, and it employs 115 people and manages 20 accounts with an average account balance of $931 million.
Kayne Anderson Rudnick Investment Management LLC
Kayne Anderson Rudnick Investment Management LLC holds 3.45 million shares of Primerica as of March 30, 2016. The firm's stake represents 7.33% of the shares outstanding and is valued at $172.6 million as of Aug. 2, 2016. Kayne Anderson Rudnick is a registered investment advisor with $8.9 billion in AUM as of Sept. 30, 2014. The Los Angeles, California, firm's clients include high net worth individuals, endowments, foundations, corporations, public funds and pension plans. The firm focuses on generating high-quality long-term investments and uses fundamental analysis to choose its investments. It looks to invest in companies that control their markets and have excellent management, low debt, high free cash flow and a high return on capital.