Primerica (PRI) to Release Earnings on Tuesday

Primerica (NYSE:PRI) will be issuing its quarterly earnings data after the market closes on Tuesday, November 7th. Analysts expect the company to announce earnings of $4.04 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Monday, August 7th. The financial services provider reported $3.99 EPS for the quarter, beating analysts’ consensus estimates of $3.81 by $0.18. Primerica had a net margin of 16.55% and a return on equity of 28.48%. The company had revenue of $688.40 million during the quarter, compared to the consensus estimate of $704.91 million. During the same quarter in the prior year, the company posted $2.86 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, analysts expect Primerica to post $16 EPS for the current fiscal year and $17 EPS for the next fiscal year.

Primerica Stock Performance

PRI opened at $204.76 on Friday. Primerica has a 1 year low of $135.00 and a 1 year high of $220.00. The company’s 50 day simple moving average is $199.88 and its 200 day simple moving average is $196.72. The stock has a market capitalization of $7.32 billion, a PE ratio of 16.70 and a beta of 1.16.

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Monday, August 21st were issued a $0.65 dividend. The ex-dividend date of this dividend was Friday, August 18th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.27%. Primerica’s dividend payout ratio (DPR) is presently 21.21%.

Analysts Set New Price Targets

Several research analysts recently weighed in on PRI shares. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Morgan Stanley raised their price objective on Primerica from $171.00 to $185.00 and gave the stock an “equal weight” rating in a report on Friday, August 18th. Truist Financial boosted their target price on Primerica from $240.00 to $260.00 in a report on Wednesday, August 9th. Finally, Jefferies Financial Group cut their price target on shares of Primerica from $198.00 to $197.00 and set a “hold” rating on the stock in a report on Thursday, September 14th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $216.20.

Insider Activity

In related news, CFO Alison S. Rand sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $202.26, for a total transaction of $606,780.00. Following the transaction, the chief financial officer now directly owns 9,444 shares of the company’s stock, valued at approximately $1,910,143.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, President Peter W. Schneider sold 3,500 shares of Primerica stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $201.43, for a total transaction of $705,005.00. Following the sale, the president now directly owns 9,524 shares of the company’s stock, valued at $1,918,419.32. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Alison S. Rand sold 3,000 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $202.26, for a total value of $606,780.00. Following the completion of the transaction, the chief financial officer now directly owns 9,444 shares of the company’s stock, valued at approximately $1,910,143.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,500 shares of company stock worth $2,165,665. 0.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Primerica

A number of institutional investors have recently made changes to their positions in the business. Covestor Ltd grew its position in shares of Primerica by 74.7% during the first quarter. Covestor Ltd now owns 255 shares of the financial services provider’s stock worth $35,000 after buying an additional 109 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Primerica during the 4th quarter worth $38,000. First Capital Advisors Group LLC. bought a new stake in shares of Primerica in the 2nd quarter worth about $67,000. Compass Wealth Management LLC acquired a new stake in shares of Primerica in the 4th quarter valued at about $50,000. Finally, Castleview Partners LLC bought a new position in shares of Primerica during the first quarter worth about $65,000. 90.56% of the stock is owned by institutional investors and hedge funds.

Primerica Company Profile

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.