Primerica, Inc. (PRI) Expected to Post Quarterly Sales of $438.79 Million

Equities analysts expect Primerica, Inc. (NYSE:PRI) to post sales of $438.79 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Primerica’s earnings. The lowest sales estimate is $436.74 million and the highest is $440.83 million. Primerica posted sales of $393.86 million during the same quarter last year, which suggests a positive year over year growth rate of 11.4%. The firm is expected to report its next earnings results on Wednesday, February 14th.

According to Zacks, analysts expect that Primerica will report full-year sales of $438.79 million for the current year, with estimates ranging from $1.68 billion to $1.69 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.84 billion per share, with estimates ranging from $1.81 billion to $1.86 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Primerica.

Primerica (NYSE:PRI) last released its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $1.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.09. The firm had revenue of $427.30 million during the quarter, compared to analysts’ expectations of $425.83 million. Primerica had a return on equity of 18.94% and a net margin of 14.55%. Primerica’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.22 EPS.

A number of research firms have weighed in on PRI. Wells Fargo & Company restated a “hold” rating on shares of Primerica in a report on Tuesday, August 8th. BidaskClub cut Primerica from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $95.00 price target on shares of Primerica in a report on Friday, November 10th. Zacks Investment Research cut Primerica from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, SunTrust Banks cut Primerica from a “buy” rating to a “hold” rating in a report on Thursday, October 19th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $90.50.

Primerica (PRI) traded down $1.50 during midday trading on Friday, reaching $102.25. The company’s stock had a trading volume of 338,700 shares, compared to its average volume of 304,657. The stock has a market cap of $4,646.05, a PE ratio of 20.51, a PEG ratio of 1.96 and a beta of 1.24. Primerica has a 52-week low of $68.60 and a 52-week high of $106.40.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Thursday, November 16th. Primerica’s dividend payout ratio (DPR) is currently 15.56%.

In other news, VP Gregory C. Pitts sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $92.40, for a total transaction of $462,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.86% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Burgundy Asset Management Ltd. boosted its stake in shares of Primerica by 2.7% during the 3rd quarter. Burgundy Asset Management Ltd. now owns 1,681,212 shares of the financial services provider’s stock valued at $137,103,000 after buying an additional 43,558 shares during the last quarter. Yellowstone Partners LLC purchased a new position in shares of Primerica during the 3rd quarter valued at approximately $3,223,000. California Public Employees Retirement System boosted its stake in shares of Primerica by 2.4% during the 3rd quarter. California Public Employees Retirement System now owns 92,365 shares of the financial services provider’s stock valued at $7,532,000 after buying an additional 2,165 shares during the last quarter. Crestline Management LP boosted its stake in shares of Primerica by 185.6% during the 3rd quarter. Crestline Management LP now owns 41,188 shares of the financial services provider’s stock valued at $3,359,000 after buying an additional 26,768 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Primerica during the 3rd quarter valued at approximately $215,000. Institutional investors own 95.91% of the company’s stock.

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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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Earnings History and Estimates for Primerica (NYSE:PRI)

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