Primerica, Inc. (PRI) Expected to Post Quarterly Sales of $438.79 Million
Brokerages predict that Primerica, Inc. (NYSE:PRI) will post $438.79 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made 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 in the same quarter last year, which suggests a positive year over year growth rate of 11.4%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, February 14th.
On average, 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 year, analysts anticipate that the company will report 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 issued its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $1.46 EPS for the quarter, topping the consensus estimate of $1.37 by $0.09. Primerica had a net margin of 14.55% and a return on equity of 18.94%. The firm had revenue of $427.30 million for the quarter, compared to analyst estimates of $425.83 million. During the same period in the prior year, the business posted $1.22 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year.
In other news, VP Gregory C. Pitts sold 5,000 shares of Primerica stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $92.40, for a total value of $462,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.86% of the company’s stock.
Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of Primerica by 1.2% in the second quarter. JPMorgan Chase & Co. now owns 502,000 shares of the financial services provider’s stock valued at $38,026,000 after acquiring an additional 5,981 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Primerica by 0.3% in the second quarter. Vanguard Group Inc. now owns 5,085,927 shares of the financial services provider’s stock valued at $385,260,000 after purchasing an additional 13,941 shares during the period. BB&T Securities LLC lifted its stake in shares of Primerica by 27.3% in the second quarter. BB&T Securities LLC now owns 11,103 shares of the financial services provider’s stock valued at $841,000 after purchasing an additional 2,379 shares during the period. Evanston Investments Inc. dba Evanston Advisors acquired a new stake in shares of Primerica in the third quarter valued at about $3,243,000. Finally, State Street Corp lifted its stake in shares of Primerica by 1.3% in the second quarter. State Street Corp now owns 1,780,565 shares of the financial services provider’s stock valued at $134,879,000 after purchasing an additional 22,430 shares during the period. 95.92% of the stock is currently owned by institutional investors and hedge funds.
Shares of Primerica (NYSE PRI) opened at $103.45 on Friday. The stock has a market cap of $4,601.80, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 1.94 and a beta of 1.23. Primerica has a fifty-two week low of $68.60 and a fifty-two week high of $106.40.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Thursday, November 16th. Primerica’s payout ratio is currently 15.56%.
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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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