Equities research analysts expect Primerica, Inc. (NYSE:PRI) to announce earnings of $1.37 per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Primerica’s earnings. The lowest EPS estimate is $1.35 and the highest is $1.41. Primerica posted earnings per share of $1.22 in the same quarter last year, which indicates a positive year-over-year growth rate of 12.3%. The business is expected to announce its next quarterly earnings report on Wednesday, November 8th.
On average, analysts expect that Primerica will report full-year earnings of $5.21 per share for the current year, with EPS estimates ranging from $5.15 to $5.30. For the next financial year, analysts forecast that the business will report earnings of $5.89 per share, with EPS estimates ranging from $5.70 to $6.15. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Primerica.
Primerica (NYSE:PRI) last released its earnings results on Tuesday, August 8th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.01. Primerica had a net margin of 14.41% and a return on equity of 18.62%. The business had revenue of $413.70 million during the quarter, compared to analyst estimates of $410.97 million. During the same quarter in the prior year, the firm earned $1.23 earnings per share. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year.
Several research firms have commented on PRI. Wells Fargo & Company restated a “hold” rating on shares of Primerica in a report on Tuesday. BidaskClub upgraded Primerica from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Keefe, Bruyette & Woods restated a “hold” rating and issued a $81.00 price target on shares of Primerica in a report on Friday, May 12th. William Blair cut Primerica from an “outperform” rating to a “market perform” rating in a report on Friday, April 21st. They noted that the move was a valuation call. Finally, Zacks Investment Research cut Primerica from a “buy” rating to a “hold” rating in a report on Friday, May 12th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $83.75.
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In other news, VP Alison S. Rand sold 2,000 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $71.55, for a total value of $143,100.00. Following the completion of the transaction, the vice president now owns 37,385 shares of the company’s stock, valued at $2,674,896.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.24% of the company’s stock.
Large investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Primerica by 22,346.4% in the first quarter. BlackRock Inc. now owns 4,448,197 shares of the financial services provider’s stock worth $365,642,000 after buying an additional 4,428,380 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Primerica by 142.0% in the first quarter. Goldman Sachs Group Inc. now owns 858,611 shares of the financial services provider’s stock worth $70,578,000 after buying an additional 503,786 shares during the period. Vanguard Group Inc. raised its stake in Primerica by 6.5% in the first quarter. Vanguard Group Inc. now owns 5,071,986 shares of the financial services provider’s stock worth $416,917,000 after buying an additional 307,797 shares during the period. Bank of New York Mellon Corp raised its stake in Primerica by 21.7% in the first quarter. Bank of New York Mellon Corp now owns 1,096,136 shares of the financial services provider’s stock worth $90,104,000 after buying an additional 195,245 shares during the period. Finally, FMR LLC raised its stake in Primerica by 10.7% in the first quarter. FMR LLC now owns 1,752,471 shares of the financial services provider’s stock worth $144,053,000 after buying an additional 169,689 shares during the period. 97.09% of the stock is owned by institutional investors.
Primerica (PRI) traded up 0.50% during midday trading on Thursday, hitting $80.65. 23,011 shares of the stock were exchanged. Primerica has a one year low of $52.50 and a one year high of $86.45. The stock has a market cap of $3.71 billion, a P/E ratio of 16.43 and a beta of 1.14. The firm has a 50-day moving average price of $78.35 and a 200-day moving average price of $79.02.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 18th will be given a dividend of $0.20 per share. This is a positive change from Primerica’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Wednesday, August 16th. Primerica’s dividend payout ratio is currently 15.51%.
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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