Q3 2018 Earnings Forecast for Primerica, Inc. (PRI) Issued By William Blair
Primerica, Inc. (NYSE:PRI) – Research analysts at William Blair upped their Q3 2018 EPS estimates for shares of Primerica in a note issued to investors on Wednesday. William Blair analyst A. Klauber now forecasts that the financial services provider will post earnings of $1.64 per share for the quarter, up from their previous forecast of $1.63. William Blair also issued estimates for Primerica’s Q4 2018 earnings at $1.59 EPS and FY2019 earnings at $6.96 EPS.
PRI has been the subject of several other research reports. BidaskClub upgraded shares of Primerica from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. Wells Fargo & Company restated a “hold” rating on shares of Primerica in a research report on Tuesday, August 8th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $87.00 price objective on shares of Primerica in a research note on Monday, October 16th. Zacks Investment Research upgraded shares of Primerica from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a research note on Wednesday, October 11th. Finally, SunTrust Banks, Inc. lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Thursday, October 19th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $90.50.
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Shares of Primerica (NYSE PRI) traded down $0.10 during trading hours on Monday, hitting $100.00. 190,400 shares of the company traded hands, compared to its average volume of 308,064. The stock has a market cap of $4,429.23, a P/E ratio of 19.55, a PEG ratio of 1.87 and a beta of 1.18. Primerica has a fifty-two week low of $67.40 and a fifty-two week high of $100.65.
Primerica (NYSE:PRI) last issued its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $1.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.09. The business had revenue of $427.30 million during the quarter, compared to the consensus estimate of $425.83 million. Primerica had a net margin of 14.55% and a return on equity of 18.94%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.22 EPS.
The business also recently disclosed 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 is Thursday, November 16th. This represents a $0.80 annualized dividend and a yield of 0.80%. Primerica’s dividend payout ratio is presently 15.56%.
In other Primerica news, VP Alison S. Rand sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $76.50, for a total value of $153,000.00. Following the transaction, the vice president now owns 35,385 shares in the company, valued at approximately $2,706,952.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Peter W. Schneider sold 1,301 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $76.92, for a total transaction of $100,072.92. Following the completion of the transaction, the president now owns 28,138 shares in the company, valued at approximately $2,164,374.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,301 shares of company stock worth $715,073. Company insiders own 0.86% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Primerica by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 5,085,927 shares of the financial services provider’s stock worth $385,260,000 after purchasing an additional 13,941 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Primerica by 2.4% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,508,400 shares of the financial services provider’s stock worth $286,111,000 after purchasing an additional 81,603 shares during the last quarter. State Street Corp increased its stake in shares of Primerica by 1.3% during the 2nd quarter. State Street Corp now owns 1,780,565 shares of the financial services provider’s stock worth $134,879,000 after purchasing an additional 22,430 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Primerica by 0.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,105,499 shares of the financial services provider’s stock worth $83,741,000 after purchasing an additional 9,363 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Primerica by 8.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 927,674 shares of the financial services provider’s stock worth $70,272,000 after purchasing an additional 69,063 shares during the last quarter. Institutional investors own 93.83% 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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