$427.76 Million in Sales Expected for Primerica, Inc. (NYSE:PRI) This Quarter
Analysts expect Primerica, Inc. (NYSE:PRI) to report sales of $427.76 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Primerica’s earnings. The highest sales estimate is $433.85 million and the lowest is $421.67 million. Primerica reported sales of $383.63 million during the same quarter last year, which indicates a positive year-over-year growth rate of 11.5%. The company is scheduled to issue its next quarterly earnings results on Wednesday, November 8th.
On average, analysts expect that Primerica will report full year sales of $427.76 million for the current year, with estimates ranging from $1.66 billion to $1.69 billion. For the next fiscal year, analysts expect that the company will report sales of $1.80 billion per share, with estimates ranging from $1.75 billion to $1.86 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Primerica.
Primerica (NYSE:PRI) last posted its earnings results on Tuesday, August 8th. The financial services provider reported $1.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.01. Primerica had a net margin of 14.41% and a return on equity of 18.48%. The company had revenue of $413.70 million for the quarter, compared to analyst estimates of $410.97 million. During the same quarter in the prior year, the business posted $1.23 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year.
Several research firms recently commented on PRI. BidaskClub raised shares of Primerica from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. Wells Fargo & Company reaffirmed a “hold” rating on shares of Primerica in a report on Tuesday. William Blair cut shares of Primerica from an “outperform” rating to a “market perform” rating in a report on Friday, April 21st. They noted that the move was a valuation call. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $83.00 target price on shares of Primerica in a report on Friday, June 23rd. Finally, Zacks Investment Research cut shares of Primerica from a “hold” rating to a “sell” rating in a report on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $83.75.
Shares of Primerica (NYSE:PRI) opened at 80.60 on Friday. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of 16.42 and a beta of 1.14. The company has a 50 day moving average of $78.71 and a 200-day moving average of $79.09. Primerica has a 12-month low of $52.50 and a 12-month high of $86.45.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 18th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.99%. This is a boost from Primerica’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Wednesday, August 16th. Primerica’s payout ratio is presently 15.51%.
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In other Primerica news, VP Alison S. Rand sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $71.55, for a total transaction of $143,100.00. Following the completion of the sale, the vice president now directly owns 37,385 shares of the company’s stock, valued at $2,674,896.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.24% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. OxFORD Asset Management LLP acquired a new stake in shares of Primerica during the second quarter worth approximately $567,000. Advisor Group Inc. boosted its stake in shares of Primerica by 15.3% in the second quarter. Advisor Group Inc. now owns 4,489 shares of the financial services provider’s stock worth $340,000 after buying an additional 596 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Primerica by 21.5% in the second quarter. Nordea Investment Management AB now owns 26,582 shares of the financial services provider’s stock worth $2,014,000 after buying an additional 4,707 shares in the last quarter. Suntrust Banks Inc. acquired a new stake in shares of Primerica during the second quarter worth approximately $293,000. Finally, Vanguard Group Inc. boosted its stake in shares of Primerica by 0.3% in the second quarter. Vanguard Group Inc. now owns 5,085,927 shares of the financial services provider’s stock worth $385,260,000 after buying an additional 13,941 shares in the last quarter. 97.09% of the stock is owned by institutional investors and hedge funds.
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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