Primerica (NYSE:PRI) Announces Quarterly Earnings Results

Primerica (NYSE:PRI) issued its quarterly earnings data on Monday. The financial services provider reported $3.91 earnings per share for the quarter, missing analysts’ consensus estimates of $4.12 by ($0.21), Briefing.com reports. The business had revenue of $742.83 million during the quarter, compared to the consensus estimate of $740.57 million. Primerica had a return on equity of 27.83% and a net margin of 20.37%. Primerica’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.49 earnings per share.

Primerica Stock Performance

PRI stock opened at $219.34 on Wednesday. The firm has a 50 day moving average price of $236.60 and a 200-day moving average price of $223.48. Primerica has a 52-week low of $176.81 and a 52-week high of $256.56. The firm has a market capitalization of $7.61 billion, a price-to-earnings ratio of 13.81 and a beta of 1.10.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Monday, May 20th. Primerica’s dividend payout ratio is 18.89%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PRI shares. Keefe, Bruyette & Woods lifted their price target on shares of Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research report on Tuesday. Raymond James lowered shares of Primerica from a “strong-buy” rating to a “market perform” rating in a report on Monday, February 12th. Morgan Stanley lifted their price objective on Primerica from $245.00 to $250.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Finally, Truist Financial increased their target price on Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $245.50.

Insider Buying and Selling

In other Primerica news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction on Friday, March 15th. The stock was sold at an average price of $243.41, for a total transaction of $365,115.00. Following the completion of the transaction, the president now owns 13,259 shares in the company, valued at $3,227,373.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Nicholas Adam Jendusa sold 234 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total value of $58,455.54. Following the transaction, the insider now directly owns 100 shares in the company, valued at approximately $24,981. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $243.41, for a total value of $365,115.00. Following the sale, the president now owns 13,259 shares of the company’s stock, valued at approximately $3,227,373.19. The disclosure for this sale can be found here. Insiders have sold 6,708 shares of company stock worth $1,648,677 in the last 90 days. Insiders own 0.61% of the company’s stock.

About Primerica

Primerica, Inc, together with its subsidiaries, provides financial products and services 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.