Primerica, Inc. (PRI) Posts Earnings Results, Beats Estimates By $0.09 EPS
Primerica, Inc. (NYSE:PRI) announced its quarterly earnings data on Tuesday. 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, Bloomberg Earnings reports. The company 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 18.48% and a net margin of 14.41%. The firm’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.22 EPS.
Shares of Primerica (NYSE:PRI) traded down $0.20 on Tuesday, reaching $88.75. The company’s stock had a trading volume of 362,856 shares, compared to its average volume of 237,326. Primerica has a one year low of $54.00 and a one year high of $89.70. The firm has a market capitalization of $3,980.00, a price-to-earnings ratio of 18.17, a P/E/G ratio of 1.70 and a beta of 1.18.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.90%. Primerica’s payout ratio is 16.26%.
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A number of research analysts recently commented on PRI shares. SunTrust Banks, Inc. 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. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $87.00 price target 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 target on the stock in a report on Wednesday, October 11th. BidaskClub cut Primerica from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Finally, Wells Fargo & Company reissued a “hold” rating on shares of Primerica in a report on Tuesday, August 8th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Primerica has a consensus rating of “Hold” and a consensus target price of $88.50.
In other Primerica news, President Peter W. Schneider sold 1,301 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $76.92, for a total transaction of $100,072.92. Following the completion of the sale, the president now directly owns 28,138 shares of the company’s stock, valued at approximately $2,164,374.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $80.68, for a total value of $242,040.00. Following the sale, the chief executive officer now directly owns 77,895 shares of the company’s stock, valued at $6,284,568.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,301 shares of company stock worth $495,113. Company insiders own 0.86% of the company’s stock.
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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