Primerica (NYSE:PRI) Announces Quarterly Earnings Results

Primerica (NYSE:PRI) announced its quarterly earnings results 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 firm had revenue of $742.83 million during the quarter, compared to analysts’ expectations of $740.57 million. Primerica had a net margin of 20.37% and a return on equity of 27.83%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.49 EPS.

Primerica Stock Performance

Shares of NYSE:PRI opened at $218.10 on Thursday. The company has a market cap of $7.57 billion, a P/E ratio of 13.27 and a beta of 1.10. Primerica has a one year low of $176.81 and a one year high of $256.56. The business’s 50-day simple moving average is $236.05 and its 200 day simple moving average is $223.44.

Primerica Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 21st will be issued a dividend of $0.75 per share. The ex-dividend date is Monday, May 20th. This represents a $3.00 annualized dividend and a dividend yield of 1.38%. Primerica’s payout ratio is currently 18.26%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PRI shares. Keefe, Bruyette & Woods lifted their price objective on Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Truist Financial raised their price target on Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research note on Tuesday. Raymond James lowered Primerica from a “strong-buy” rating to a “market perform” rating in a research note on Monday, February 12th. Finally, 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 note on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $245.50.

Insider Activity at Primerica

In related news, Director John A. Jr. Addison sold 1,215 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $249.00, for a total transaction of $302,535.00. Following the sale, the director now directly owns 16,467 shares in the company, valued at approximately $4,100,283. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Primerica news, Director John A. Jr. Addison sold 1,215 shares of Primerica stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $249.00, for a total transaction of $302,535.00. Following the sale, the director now directly owns 16,467 shares in the company, valued at approximately $4,100,283. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Gregory C. Pitts sold 3,759 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $245.43, for a total value of $922,571.37. Following the transaction, the chief operating officer now owns 3,379 shares of the company’s stock, valued at approximately $829,307.97. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,708 shares of company stock worth $1,648,677. 0.61% of the stock is currently owned by company insiders.

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.