Q3 2018 Earnings Estimate for Primerica, Inc. Issued By SunTrust Banks (PRI)
Primerica, Inc. (NYSE:PRI) – Investment analysts at SunTrust Banks raised their Q3 2018 EPS estimates for Primerica in a report released on Thursday. SunTrust Banks analyst M. Hughes now expects that the financial services provider will earn $1.92 per share for the quarter, up from their prior estimate of $1.87. SunTrust Banks currently has a “Hold” rating and a $112.00 price target on the stock. SunTrust Banks also issued estimates for Primerica’s Q4 2018 earnings at $1.95 EPS, Q1 2019 earnings at $1.69 EPS, Q2 2019 earnings at $2.09 EPS, Q3 2019 earnings at $2.17 EPS, Q4 2019 earnings at $2.19 EPS and FY2019 earnings at $8.15 EPS.
Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $1.60 EPS for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.17. Primerica had a return on equity of 19.47% and a net margin of 20.74%. The company had revenue of $442.94 million during the quarter, compared to the consensus estimate of $435.87 million. During the same quarter last year, the company earned $1.19 EPS. The company’s quarterly revenue was up 12.5% on a year-over-year basis.
Shares of Primerica (NYSE:PRI) traded up $0.95 during mid-day trading on Monday, hitting $96.10. The company’s stock had a trading volume of 27,207 shares, compared to its average volume of 203,590. Primerica has a 52 week low of $70.00 and a 52 week high of $108.05. The company has a market cap of $4,261.09, a P/E ratio of 12.44, a P/E/G ratio of 1.40 and a beta of 1.14.
Primerica declared that its Board of Directors has initiated a share buyback program on Wednesday, February 7th that authorizes the company to repurchase $225.00 million in shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Thursday, February 15th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, February 14th. This is a boost from Primerica’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.04%. Primerica’s dividend payout ratio is presently 10.46%.
Several institutional investors and hedge funds have recently modified their holdings of the company. Bbva Compass Bancshares Inc. raised its holdings in shares of Primerica by 7.2% in the 4th quarter. Bbva Compass Bancshares Inc. now owns 14,434 shares of the financial services provider’s stock worth $1,466,000 after buying an additional 974 shares in the last quarter. Logan Capital Management Inc. raised its holdings in shares of Primerica by 1.5% in the 4th quarter. Logan Capital Management Inc. now owns 60,859 shares of the financial services provider’s stock worth $6,180,000 after buying an additional 884 shares in the last quarter. OppenheimerFunds Inc. raised its holdings in shares of Primerica by 19.7% in the 4th quarter. OppenheimerFunds Inc. now owns 207,196 shares of the financial services provider’s stock worth $21,041,000 after buying an additional 34,153 shares in the last quarter. First Republic Investment Management Inc. raised its holdings in shares of Primerica by 13.1% in the 4th quarter. First Republic Investment Management Inc. now owns 6,940 shares of the financial services provider’s stock worth $704,000 after buying an additional 804 shares in the last quarter. Finally, Suntrust Banks Inc. raised its holdings in shares of Primerica by 17.1% in the 4th quarter. Suntrust Banks Inc. now owns 4,574 shares of the financial services provider’s stock worth $463,000 after buying an additional 667 shares in the last quarter. 94.36% of the stock is owned by institutional investors and hedge funds.
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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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