$739.00 Million in Sales Expected for Primerica, Inc. (NYSE:PRI) This Quarter

Brokerages predict that Primerica, Inc. (NYSE:PRI – Get Rating) will report $739.00 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for Primerica’s earnings, with the highest sales estimate coming in at $761.04 million and the lowest estimate coming in at $724.92 million. Primerica posted sales of $654.16 million during the same quarter last year, which suggests a positive year over year growth rate of 13%. The firm is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Primerica will report full year sales of $2.92 billion for the current fiscal year, with estimates ranging from $2.81 billion to $3.01 billion. For the next year, analysts anticipate that the company will report sales of $3.09 billion, with estimates ranging from $2.89 billion to $3.26 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Primerica.

Primerica (NYSE:PRI – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The financial services provider reported $2.11 EPS for the quarter, missing analysts’ consensus estimates of $2.73 by ($0.62). The company had revenue of $691.30 million for the quarter, compared to analyst estimates of $731.25 million. Primerica had a net margin of 12.92% and a return on equity of 21.70%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.44 EPS.

Several research analysts have commented on PRI shares. Morgan Stanley dropped their price objective on shares of Primerica from $159.00 to $157.00 and set an “overweight” rating for the company in a report on Friday, April 8th. Zacks Investment Research upgraded Primerica from a “sell” rating to a “hold” rating in a research report on Tuesday, April 12th. Truist Financial dropped their price target on shares of Primerica from $197.00 to $187.00 in a research note on Wednesday, February 16th. Jefferies Financial Group initiated coverage on shares of Primerica in a report on Tuesday, January 25th. They set a “hold” rating and a $160.00 target price for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of Primerica in a report on Tuesday, February 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $167.29.

Shares of NYSE PRI opened at $119.26 on Wednesday. Primerica has a twelve month low of $113.99 and a twelve month high of $179.51. The company has a market capitalization of $4.64 billion, a PE ratio of 13.30 and a beta of 1.35. The stock’s 50 day moving average price is $131.59 and its 200-day moving average price is $145.41.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 14th. Shareholders of record on Friday, May 20th will be issued a $0.55 dividend. The ex-dividend date is Thursday, May 19th. This represents a $2.20 dividend on an annualized basis and a yield of 1.84%. Primerica’s dividend payout ratio (DPR) is 24.53%.

Primerica announced that its Board of Directors has authorized a share repurchase program on Monday, February 14th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

In other Primerica news, President Peter W. Schneider sold 3,500 shares of the stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $130.49, for a total transaction of $456,715.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.85% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. First Horizon Advisors Inc. lifted its stake in shares of Primerica by 1,204.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 561 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 518 shares during the period. National Bank of Canada FI bought a new position in Primerica in the 4th quarter worth $43,000. City State Bank bought a new position in Primerica during the fourth quarter valued at approximately $43,000. Kings Point Capital Management bought a new stake in Primerica during the 3rd quarter worth approximately $50,000. Finally, Signaturefd LLC boosted its position in shares of Primerica by 84.2% during the 1st quarter. Signaturefd LLC now owns 420 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 192 shares during the last quarter. Institutional investors own 90.90% of the company’s stock.

About Primerica (Get Rating)

Primerica, Inc, together with its subsidiaries, provides financial products to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products. The Term Life Insurance segment underwrites individual term life insurance products.

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