Primerica (NYSE:PRI) Announces Earnings Results, Misses Estimates By $0.21 EPS

Primerica (NYSE:PRI) posted its quarterly earnings data on Monday. The financial services provider reported $3.91 EPS for the quarter, missing the consensus estimate of $4.12 by ($0.21), Briefing.com reports. The business had revenue of $742.83 million for 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%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.49 EPS.

Primerica Trading Up 2.1 %

PRI traded up $4.56 during trading hours on Monday, hitting $222.55. The company’s stock had a trading volume of 227,998 shares, compared to its average volume of 163,156. The stock has a market cap of $7.72 billion, a price-to-earnings ratio of 13.73 and a beta of 1.10. The business’s 50-day moving average price is $237.59 and its 200-day moving average price is $223.21. Primerica has a 12 month low of $176.81 and a 12 month high of $256.56.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Wednesday, February 21st were given a dividend of $0.75 per share. This is an increase from Primerica’s previous quarterly dividend of $0.65. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Tuesday, February 20th. Primerica’s dividend payout ratio is currently 18.89%.

Insider Buying and Selling at Primerica

In other Primerica news, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction that occurred 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 sale, the president now directly owns 13,259 shares in the company, valued at $3,227,373.19. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $243.41, for a total value of $365,115.00. Following the completion of the sale, the president now owns 13,259 shares in the company, valued at approximately $3,227,373.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Gregory C. Pitts sold 3,759 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $245.43, for a total value of $922,571.37. Following the completion of the sale, the chief operating officer now owns 3,379 shares in the company, valued at $829,307.97. The disclosure for this sale can be found here. Insiders sold 6,708 shares of company stock worth $1,648,677 over the last 90 days. 0.61% of the stock is owned by insiders.

Analysts Set New Price Targets

PRI has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their price target on Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Truist Financial upped their target price on shares of Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a report on Thursday, March 7th. Raymond James cut Primerica from a “strong-buy” rating to a “market perform” rating in a research note on Monday, February 12th. Finally, Morgan Stanley increased their price target on Primerica from $245.00 to $250.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $245.50.

Primerica Company Profile

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.