Zacks: Analysts Anticipate Primerica, Inc. (PRI) Will Announce Earnings of $1.44 Per Share
Analysts predict that Primerica, Inc. (NYSE:PRI) will report $1.44 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for Primerica’s earnings. The lowest EPS estimate is $1.42 and the highest is $1.47. Primerica reported earnings of $1.19 per share in the same quarter last year, which suggests a positive year over year growth rate of 21%. The firm is expected to issue its next quarterly earnings report on Wednesday, February 14th.
According to Zacks, analysts expect that Primerica will report full-year earnings of $5.36 per share for the current year, with EPS estimates ranging from $5.34 to $5.40. For the next fiscal year, analysts expect that the firm will report earnings of $6.07 per share, with EPS estimates ranging from $5.95 to $6.15. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Primerica.
Primerica (NYSE:PRI) last issued its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.09. The firm had revenue of $427.30 million during the quarter, compared to the consensus estimate of $425.83 million. Primerica had a return on equity of 18.94% and a net margin of 14.55%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the company posted $1.22 EPS.
A number of equities analysts recently weighed in on the company. Wells Fargo & Company reissued a “hold” rating on shares of Primerica in a report on Tuesday, August 8th. BidaskClub cut Primerica from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $87.00 price objective on shares of Primerica in a report on Monday, October 16th. Zacks Investment Research raised Primerica from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a report on Wednesday, October 11th. Finally, SunTrust Banks cut Primerica from a “buy” rating to a “hold” rating in a report on Thursday, October 19th. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $90.50.
Shares of Primerica (NYSE PRI) traded down $1.50 during midday trading on Friday, hitting $102.25. The company had a trading volume of 338,700 shares, compared to its average volume of 304,657. The stock has a market cap of $4,646.05, a PE ratio of 20.51, a price-to-earnings-growth ratio of 1.96 and a beta of 1.24. Primerica has a 52 week low of $68.60 and a 52 week high of $106.40.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $0.80 dividend on an annualized basis and a yield of 0.78%. Primerica’s dividend payout ratio (DPR) is currently 15.56%.
In other Primerica news, VP Gregory C. Pitts sold 5,000 shares of Primerica stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $92.40, for a total value of $462,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.86% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the business. Mountain Capital Investment Advisors Inc purchased a new position in Primerica in the 2nd quarter worth approximately $125,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Primerica by 13.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,081 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 242 shares during the period. Flinton Capital Management LLC increased its stake in Primerica by 69.5% in the 2nd quarter. Flinton Capital Management LLC now owns 2,224 shares of the financial services provider’s stock worth $169,000 after purchasing an additional 912 shares during the period. Riverhead Capital Management LLC increased its stake in Primerica by 68.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,530 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 1,030 shares during the period. Finally, Magnetar Financial LLC purchased a new position in Primerica in the 3rd quarter worth approximately $204,000. 95.91% of the stock is currently owned by institutional investors and hedge funds.
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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.
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