Wall Street brokerages forecast that Primerica, Inc. (NYSE:PRI) will report $494.24 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Primerica’s earnings, with the lowest sales estimate coming in at $494.12 million and the highest estimate coming in at $494.35 million. Primerica reported sales of $442.94 million in the same quarter last year, which indicates a positive year-over-year growth rate of 11.6%. The business is expected to issue its next earnings report on Wednesday, February 6th.
According to Zacks, analysts expect that Primerica will report full year sales of $1.90 billion for the current fiscal year, with estimates ranging from $1.90 billion to $1.91 billion. For the next year, analysts forecast that the firm will post sales of $2.08 billion, with estimates ranging from $2.07 billion to $2.09 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Primerica.
Primerica (NYSE:PRI) last issued its quarterly earnings data on Tuesday, November 6th. The financial services provider reported $1.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.07. Primerica had a net margin of 21.88% and a return on equity of 21.72%. The company had revenue of $484.78 million for the quarter, compared to analyst estimates of $478.87 million. During the same period in the prior year, the firm earned $1.46 earnings per share. The company’s revenue was up 13.5% on a year-over-year basis.
Several research firms have issued reports on PRI. Zacks Investment Research lowered shares of Primerica from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 10th. ValuEngine downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Finally, Citigroup downgraded shares of Primerica from a “neutral” rating to a “sell” rating and raised their price objective for the stock from $100.00 to $108.00 in a research report on Tuesday, September 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Primerica presently has a consensus rating of “Hold” and an average price target of $114.40.
In related news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $116.21, for a total value of $348,630.00. Following the completion of the sale, the chief executive officer now owns 65,287 shares of the company’s stock, valued at approximately $7,587,002.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider William A. Kelly sold 856 shares of Primerica stock in a transaction on Monday, October 15th. The shares were sold at an average price of $109.93, for a total transaction of $94,100.08. Following the completion of the sale, the insider now directly owns 14,416 shares of the company’s stock, valued at approximately $1,584,750.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,856 shares of company stock valued at $908,390. Insiders own 0.89% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of PRI. Raymond James Financial Services Advisors Inc. acquired a new stake in Primerica in the 2nd quarter valued at $212,000. Canada Pension Plan Investment Board grew its position in Primerica by 129.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 19,300 shares of the financial services provider’s stock valued at $1,922,000 after purchasing an additional 10,900 shares during the period. ING Groep NV acquired a new stake in Primerica in the 2nd quarter valued at $460,000. OppenheimerFunds Inc. grew its position in Primerica by 6.9% in the 2nd quarter. OppenheimerFunds Inc. now owns 240,282 shares of the financial services provider’s stock valued at $23,932,000 after purchasing an additional 15,509 shares during the period. Finally, Laurion Capital Management LP acquired a new stake in Primerica in the 2nd quarter valued at $1,944,000. 89.42% of the stock is owned by institutional investors and hedge funds.
Primerica stock traded down $1.19 during trading hours on Friday, reaching $102.85. 298,396 shares of the stock were exchanged, compared to its average volume of 203,762. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 18.63 and a beta of 1.34. Primerica has a twelve month low of $90.05 and a twelve month high of $128.35.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 14th. Stockholders of record on Tuesday, November 20th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Monday, November 19th. Primerica’s dividend payout ratio (DPR) is 18.12%.
Primerica Company Profile
Primerica, Inc, together with its subsidiaries, distributes financial products to middle income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.
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