Primerica (NYSE:PRI) Releases Quarterly Earnings Results, Beats Estimates By $0.22 EPS

Primerica (NYSE:PRI) announced its quarterly earnings results on Tuesday. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.81 by $0.22, Zacks reports. Primerica had a return on equity of 30.93% and a net margin of 14.95%.

Primerica Trading Down 0.8 %

NYSE:PRI opened at $290.74 on Wednesday. The stock has a 50 day moving average of $283.22 and a two-hundred day moving average of $275.15. Primerica has a 12 month low of $184.76 and a 12 month high of $307.91. The firm has a market cap of $9.70 billion, a P/E ratio of 22.21 and a beta of 1.11.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PRI shares. BMO Capital Markets began coverage on shares of Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 target price for the company. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Truist Financial raised their target price on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. TD Cowen upped their price target on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods dropped their price objective on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $304.14.

Primerica announced that its board has initiated a stock buyback program on Thursday, November 14th that permits the company to repurchase $450.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

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.