Brokerages Anticipate Primerica, Inc. (PRI) to Announce $1.37 EPS
Equities research analysts predict that Primerica, Inc. (NYSE:PRI) will report $1.37 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Primerica’s earnings, with the lowest EPS estimate coming in at $1.34 and the highest estimate coming in at $1.41. Primerica posted earnings per share of $1.22 during the same quarter last year, which indicates a positive year over year growth rate of 12.3%. The business is expected to issue its next earnings results on Wednesday, November 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 $5.18 to $5.30. For the next financial year, analysts anticipate that the company will post earnings of $5.89 per share, with EPS estimates ranging from $5.70 to $6.15. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that cover 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, beating the Zacks’ consensus estimate of $1.35 by $0.01. The firm had revenue of $413.70 million for the quarter, compared to analyst estimates of $410.97 million. Primerica had a return on equity of 18.48% and a net margin of 14.41%. The company’s revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.23 EPS.
Several research firms have issued reports on PRI. BidaskClub upgraded Primerica from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Wells Fargo & Company restated a “hold” rating on shares of Primerica in a research note on Tuesday, August 8th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $83.00 price objective on shares of Primerica in a research note on Friday, June 23rd. Finally, Zacks Investment Research lowered Primerica from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $83.75.
Shares of Primerica (PRI) opened at 76.15 on Friday. Primerica has a 12-month low of $52.50 and a 12-month high of $86.45. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 15.51 and a beta of 1.14. The firm has a 50-day moving average price of $77.76 and a 200-day moving average price of $78.75.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 18th were given a $0.20 dividend. This is an increase from Primerica’s previous quarterly dividend of $0.19. The ex-dividend date was Wednesday, August 16th. This represents a $0.80 annualized dividend and a dividend yield of 1.05%. Primerica’s dividend payout ratio is presently 16.33%.
In other news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $80.68, for a total value of $242,040.00. Following the transaction, the chief executive officer now owns 77,895 shares of the company’s stock, valued at $6,284,568.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Alison S. Rand sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $76.50, for a total value of $153,000.00. Following the completion of the transaction, the vice president now directly 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 6,301 shares of company stock worth $495,113 in the last ninety days. 0.86% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of PRI. Mountain Capital Investment Advisors Inc acquired a new stake in Primerica during the second quarter worth approximately $125,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Primerica by 13.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,081 shares of the financial services provider’s stock worth $158,000 after buying an additional 242 shares in the last quarter. Flinton Capital Management LLC grew its position in Primerica by 69.5% during the second quarter. Flinton Capital Management LLC now owns 2,224 shares of the financial services provider’s stock worth $169,000 after buying an additional 912 shares in the last quarter. Riverhead Capital Management LLC grew its position in Primerica by 68.7% during the second quarter. Riverhead Capital Management LLC now owns 2,530 shares of the financial services provider’s stock worth $192,000 after buying an additional 1,030 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. acquired a new stake in Primerica during the second quarter worth approximately $211,000. 94.89% of the stock is currently owned by institutional investors and hedge funds.
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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