Primerica (PRI) Announces Quarterly Earnings Results

Primerica (NYSE:PRI) posted its earnings results on Wednesday. The financial services provider reported $1.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.17, Briefing.com reports. Primerica had a return on equity of 18.94% and a net margin of 14.55%. The company had revenue of $442.94 million for the quarter, compared to analyst estimates of $435.87 million. During the same period last year, the company earned $1.19 earnings per share. The business’s revenue was up 12.5% compared to the same quarter last year.

Primerica (NYSE:PRI) traded down $1.30 during trading on Thursday, hitting $95.45. The stock had a trading volume of 210,488 shares, compared to its average volume of 195,893. The company has a market capitalization of $4,280.00, a price-to-earnings ratio of 18.65, a PEG ratio of 1.40 and a beta of 1.14. Primerica has a twelve month low of $70.00 and a twelve month high of $108.05.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Thursday, February 15th will be paid a $0.25 dividend. This is a positive change from Primerica’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.05%. Primerica’s payout ratio is presently 15.53%.

Primerica declared that its board has approved a share repurchase program on Wednesday, February 7th that allows the company to repurchase $225.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Several equities analysts have weighed in on the company. ValuEngine upgraded Primerica from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Wells Fargo & Co restated a “market perform” rating and set a $100.00 target price (up from $95.00) on shares of Primerica in a report on Tuesday, January 9th. Zacks Investment Research lowered Primerica from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Keefe, Bruyette & Woods restated a “hold” rating and set a $87.00 target price on shares of Primerica in a report on Monday, October 16th. Finally, SunTrust Banks raised their target price on Primerica to $112.00 and gave the company a “hold” rating in a report on Monday, January 22nd. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $101.25.

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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.

Earnings History for Primerica (NYSE:PRI)

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