Primerica, Inc. (NYSE:PRI) – SunTrust Banks issued their Q1 2019 earnings per share (EPS) estimates for Primerica in a research note issued on Monday. SunTrust Banks analyst M. Hughes anticipates that the financial services provider will earn $1.83 per share for the quarter. SunTrust Banks has a “Hold” rating and a $112.00 price objective on the stock. SunTrust Banks also issued estimates for Primerica’s Q2 2019 earnings at $2.04 EPS, Q3 2019 earnings at $2.07 EPS, Q4 2019 earnings at $2.06 EPS and FY2019 earnings at $8.00 EPS.
Several other equities analysts also recently issued reports on the company. Zacks Investment Research downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Wells Fargo & Co reissued a “market perform” rating and issued a $100.00 target price (up from $95.00) on shares of Primerica in a research report on Tuesday, January 9th. ValuEngine raised Primerica from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $95.00 target price on shares of Primerica in a research report on Friday, November 10th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $95.80.
Primerica (NYSE:PRI) last issued its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $1.46 EPS for the quarter, beating the consensus estimate of $1.37 by $0.09. Primerica had a return on equity of 18.94% and a net margin of 14.55%. The firm had revenue of $427.30 million during the quarter, compared to analyst estimates of $425.83 million. During the same quarter 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.
A number of institutional investors and hedge funds have recently made changes to their positions in PRI. Koch Industries Inc. acquired a new stake in Primerica during the 2nd quarter worth about $237,000. Macquarie Group Ltd. grew its position in Primerica by 25.2% during the 2nd quarter. Macquarie Group Ltd. now owns 585,073 shares of the financial services provider’s stock worth $44,319,000 after purchasing an additional 117,739 shares during the period. Voya Investment Management LLC grew its position in Primerica by 19.2% during the 2nd quarter. Voya Investment Management LLC now owns 548,220 shares of the financial services provider’s stock worth $41,528,000 after purchasing an additional 88,376 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its position in Primerica by 2.4% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,508,400 shares of the financial services provider’s stock worth $286,111,000 after purchasing an additional 81,603 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Primerica by 8.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 927,674 shares of the financial services provider’s stock worth $70,272,000 after purchasing an additional 69,063 shares during the period. 95.99% of the stock is currently owned by institutional investors.
In other Primerica news, VP Gregory C. Pitts sold 5,000 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $92.40, for a total transaction of $462,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. 0.86% of the stock is currently owned by company insiders.
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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