Primerica, Inc. (NYSE:PRI) – Equities researchers at SunTrust Banks boosted their Q2 2018 earnings per share (EPS) estimates for Primerica in a research report issued on Wednesday. SunTrust Banks analyst M. Hughes now expects that the financial services provider will post earnings of $1.56 per share for the quarter, up from their previous forecast of $1.46. SunTrust Banks has a “Hold” rating on the stock.
Primerica (NYSE:PRI) last released its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.09. Primerica had a return on equity of 18.94% and a net margin of 14.55%. The business had revenue of $427.30 million during the quarter, compared to analyst estimates of $425.83 million. During the same quarter in the prior year, the company posted $1.22 EPS. Primerica’s quarterly revenue was up 11.4% compared to the same quarter last year.
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A number of other research analysts also recently weighed in on the company. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $95.00 target price on shares of Primerica in a report on Friday. Zacks Investment Research upgraded Primerica from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a report on Wednesday, October 11th. BidaskClub downgraded Primerica from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Finally, Wells Fargo & Company reiterated a “hold” rating on shares of Primerica in a report on Tuesday, August 8th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $90.50.
Primerica (PRI) traded up $0.50 during mid-day trading on Monday, hitting $100.10. The company’s stock had a trading volume of 484,500 shares, compared to its average volume of 308,601. Primerica has a 1 year low of $67.40 and a 1 year high of $100.65. The stock has a market cap of $4,407.11, a P/E ratio of 19.45, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18.
Several institutional investors have recently bought and sold shares of PRI. Koch Industries Inc. purchased a new stake in shares of Primerica in the 2nd quarter worth approximately $237,000. Macquarie Group Ltd. grew its stake in shares of Primerica by 25.2% in the 2nd quarter. Macquarie Group Ltd. now owns 585,073 shares of the financial services provider’s stock worth $44,319,000 after buying an additional 117,739 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Primerica by 19.2% in the 2nd quarter. Voya Investment Management LLC now owns 548,220 shares of the financial services provider’s stock worth $41,528,000 after buying an additional 88,376 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Primerica by 2.4% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,508,400 shares of the financial services provider’s stock worth $286,111,000 after buying an additional 81,603 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Primerica by 8.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 927,674 shares of the financial services provider’s stock worth $70,272,000 after buying an additional 69,063 shares during the last quarter. Institutional investors own 93.83% of the company’s stock.
In related news, President Peter W. Schneider sold 1,301 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $76.92, for a total value of $100,072.92. Following the sale, the president now owns 28,138 shares in the company, valued at approximately $2,164,374.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Alison S. Rand sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $76.50, for a total value of $153,000.00. Following the completion of the sale, the vice president now owns 35,385 shares in the company, valued at approximately $2,706,952.50. The disclosure for this sale can be found here. Insiders sold a total of 8,301 shares of company stock worth $715,073 in the last 90 days. 0.86% of the stock is currently owned by company insiders.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, November 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.80%. Primerica’s dividend payout ratio (DPR) is 15.56%.
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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