William Blair Comments on Primerica, Inc.’s Q1 2018 Earnings (PRI)
Primerica, Inc. (NYSE:PRI) – Equities research analysts at William Blair cut their Q1 2018 EPS estimates for shares of Primerica in a research report issued to clients and investors on Wednesday. William Blair analyst A. Klauber now forecasts that the financial services provider will post earnings per share of $1.31 for the quarter, down from their prior estimate of $1.34. William Blair has a “Market Perform” rating on the stock. William Blair also issued estimates for Primerica’s Q3 2018 earnings at $1.63 EPS.
Primerica (NYSE:PRI) last announced its earnings results on Tuesday, August 8th. The financial services provider reported $1.36 EPS for the quarter, beating the consensus estimate of $1.35 by $0.01. The business had revenue of $413.70 million for the quarter, compared to the consensus estimate of $410.97 million. Primerica had a return on equity of 18.48% and a net margin of 14.41%. The company’s revenue was up 9.2% on a year-over-year basis. During the same period last year, the business posted $1.23 EPS.
Other analysts have also recently issued research reports about the company. BidaskClub raised Primerica from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Wells Fargo & Company reaffirmed a “hold” rating on shares of Primerica in a research report on Tuesday. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $83.00 price target on shares of Primerica in a research report on Friday, June 23rd. Finally, Zacks Investment Research cut Primerica from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. One 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 company. Primerica currently has a consensus rating of “Hold” and a consensus target price of $83.75.
Shares of Primerica (PRI) traded down 0.12% during midday trading on Friday, hitting $80.75. The company had a trading volume of 106,657 shares. Primerica has a one year low of $52.50 and a one year high of $86.45. The company’s 50 day moving average is $78.53 and its 200 day moving average is $79.03. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 16.45 and a beta of 1.14.
Several institutional investors have recently bought and sold shares of the company. World Asset Management Inc boosted its position in Primerica by 0.6% in the second quarter. World Asset Management Inc now owns 2,856 shares of the financial services provider’s stock valued at $216,000 after buying an additional 18 shares in the last quarter. TD Asset Management Inc. boosted its position in Primerica by 1.7% in the first quarter. TD Asset Management Inc. now owns 3,030 shares of the financial services provider’s stock valued at $249,000 after buying an additional 52 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Primerica by 1.9% in the second quarter. Teacher Retirement System of Texas now owns 3,669 shares of the financial services provider’s stock valued at $278,000 after buying an additional 69 shares in the last quarter. Amalgamated Bank boosted its position in Primerica by 1.8% in the second quarter. Amalgamated Bank now owns 6,552 shares of the financial services provider’s stock valued at $496,000 after buying an additional 113 shares in the last quarter. Finally, Profund Advisors LLC boosted its position in Primerica by 1.4% in the first quarter. Profund Advisors LLC now owns 8,669 shares of the financial services provider’s stock valued at $713,000 after buying an additional 121 shares in the last quarter. 97.09% of the stock is owned by institutional investors and hedge funds.
In related news, VP Alison S. Rand sold 2,000 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $71.55, for a total transaction of $143,100.00. Following the completion of the transaction, the vice president now owns 37,385 shares of the company’s stock, valued at approximately $2,674,896.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.24% of the stock is currently owned by insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 18th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Wednesday, August 16th. This is a boost from Primerica’s previous quarterly dividend of $0.19. Primerica’s payout ratio is currently 15.51%.
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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