Zacks: Analysts Anticipate Primerica, Inc. (PRI) Will Announce Quarterly Sales of $429.76 Million
Wall Street analysts expect that Primerica, Inc. (NYSE:PRI) will report $429.76 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Primerica’s earnings, with the highest sales estimate coming in at $433.85 million and the lowest estimate coming in at $425.66 million. Primerica reported sales of $383.63 million in the same quarter last year, which indicates a positive year over year growth rate of 12%. The business is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, November 7th.
According to Zacks, analysts expect that Primerica will report full-year sales of $429.76 million for the current fiscal year, with estimates ranging from $1.68 billion to $1.69 billion. For the next financial year, analysts forecast that the firm will report sales of $1.82 billion per share, with estimates ranging from $1.80 billion to $1.86 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Primerica.
Primerica (NYSE:PRI) last announced its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $1.36 EPS for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.01. The firm had revenue of $413.70 million during the quarter, compared to the consensus estimate of $410.97 million. Primerica had a net margin of 14.41% and a return on equity of 18.48%. The firm’s revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.23 earnings per share.
A number of research analysts have issued reports on PRI shares. SunTrust Banks, Inc. lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Thursday, October 19th. They noted that the move was a valuation call. BidaskClub lowered shares of Primerica from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 18th. Zacks Investment Research lowered shares of Primerica from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $87.00 target price on shares of Primerica in a research note on Monday, October 16th. Finally, Wells Fargo & Company reissued a “hold” rating on shares of Primerica in a research note on Tuesday, August 8th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Primerica has an average rating of “Hold” and a consensus target price of $88.50.
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Shares of Primerica (PRI) opened at 86.55 on Wednesday. The firm has a market cap of $3.88 billion, a P/E ratio of 17.63 and a beta of 1.17. Primerica has a 12 month low of $52.75 and a 12 month high of $89.60. The company has a 50-day moving average of $81.02 and a 200-day moving average of $79.07.
In other Primerica news, President Peter W. Schneider sold 1,301 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $76.92, for a total transaction of $100,072.92. Following the completion of the transaction, the president now directly owns 28,138 shares of the company’s stock, valued at approximately $2,164,374.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $80.68, for a total transaction of $242,040.00. Following the transaction, the chief executive officer now directly owns 77,895 shares of the company’s stock, valued at $6,284,568.60. The disclosure for this sale can be found here. Insiders have sold a total of 6,301 shares of company stock valued at $495,113 over the last three months. 0.86% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. Prudential Financial Inc. lifted its stake in shares of Primerica by 5.0% in the 1st quarter. Prudential Financial Inc. now owns 32,041 shares of the financial services provider’s stock worth $2,634,000 after acquiring an additional 1,528 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Primerica by 1.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 502,000 shares of the financial services provider’s stock worth $38,026,000 after acquiring an additional 5,981 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Primerica by 142.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 858,611 shares of the financial services provider’s stock worth $70,578,000 after acquiring an additional 503,786 shares during the period. United Services Automobile Association acquired a new stake in shares of Primerica in the 1st quarter worth approximately $510,000. Finally, BB&T Securities LLC lifted its stake in shares of Primerica by 27.3% in the 2nd quarter. BB&T Securities LLC now owns 11,103 shares of the financial services provider’s stock worth $841,000 after acquiring an additional 2,379 shares during the period. 94.71% of the stock is owned by institutional investors.
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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