$1.35 Earnings Per Share Expected for Primerica, Inc. (PRI) This Quarter
Analysts expect Primerica, Inc. (NYSE:PRI) to report $1.35 earnings per share for the current quarter, Zacks reports. Two analysts have provided estimates for Primerica’s earnings, with the highest EPS estimate coming in at $1.36 and the lowest estimate coming in at $1.32. Primerica reported earnings per share of $1.19 in the same quarter last year, which suggests a positive year over year growth rate of 13.4%. The business is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, August 8th.
On average, analysts expect that Primerica will report full year earnings of $5.22 per share for the current financial year, with EPS estimates ranging from $5.15 to $5.30. For the next financial year, analysts forecast that the company will report earnings of $5.89 per share, with EPS estimates ranging from $5.70 to $6.15. Zacks’ EPS calculations are an average based on a survey of research firms that follow Primerica.
Primerica (NYSE:PRI) last announced its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $1.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by $0.04. The firm had revenue of $405.20 million for the quarter, compared to analysts’ expectations of $401.58 million. Primerica had a return on equity of 18.22% and a net margin of 14.49%. Primerica’s revenue was up 11.7% compared to the same quarter last year. During the same period last year, the firm earned $0.93 EPS.
A number of analysts recently weighed in on PRI shares. Wells Fargo & Company cut shares of Primerica from an “outperform” rating to a “market perform” rating in a report on Thursday, April 20th. Zacks Investment Research lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, May 12th. William Blair lowered shares of Primerica from an “outperform” rating to a “market perform” rating in a research note on Friday, April 21st. They noted that the move was a valuation call. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $81.00 price objective on shares of Primerica in a research note on Friday, May 12th. Finally, BidaskClub raised shares of Primerica from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Primerica currently has an average rating of “Hold” and a consensus target price of $78.20.
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In other Primerica news, VP Alison S. Rand sold 2,000 shares of the stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $71.55, for a total value of $143,100.00. Following the completion of the sale, the vice president now owns 37,385 shares in the company, valued at approximately $2,674,896.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.24% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in PRI. Prudential Financial Inc. increased its stake in Primerica by 5.0% in the first quarter. Prudential Financial Inc. now owns 32,041 shares of the financial services provider’s stock worth $2,634,000 after buying an additional 1,528 shares during the last quarter. State Treasurer State of Michigan increased its position in Primerica by 1.1% in the first quarter. State Treasurer State of Michigan now owns 18,600 shares of the financial services provider’s stock worth $1,529,000 after buying an additional 200 shares in the last quarter. Bank of New York Mellon Corp increased its position 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 in the last quarter. FMR LLC increased its position 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 in the last quarter. Finally, Thrivent Financial For Lutherans increased its position in Primerica by 0.3% in the first quarter. Thrivent Financial For Lutherans now owns 252,780 shares of the financial services provider’s stock worth $20,778,000 after buying an additional 740 shares in the last quarter. Institutional investors own 97.09% of the company’s stock.
Shares of Primerica (PRI) opened at 78.90 on Friday. The stock’s 50 day moving average price is $75.57 and its 200 day moving average price is $78.14. Primerica has a 52 week low of $49.69 and a 52 week high of $86.45. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 16.49 and a beta of 1.13.
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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