Primerica Inc. (PRI) Issues Quarterly Earnings Results, Beats Estimates By $0.09 EPS
Primerica Inc. (NYSE:PRI) released its quarterly earnings data on Wednesday. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.09. The business had revenue of $383.60 million for the quarter, compared to analysts’ expectations of $378.67 million. Primerica had a return on equity of 17.32% and a net margin of 13.90%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 EPS.
Primerica (NYSE:PRI) opened at 68.00 on Friday. The stock’s 50 day moving average price is $55.26 and its 200 day moving average price is $54.84. The company has a market capitalization of $3.16 billion, a PE ratio of 16.60 and a beta of 1.02. Primerica has a 12-month low of $37.09 and a 12-month high of $70.10.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, November 18th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $0.72 annualized dividend and a dividend yield of 1.06%. Primerica’s payout ratio is 17.56%.
In related news, insider William A. Kelly sold 1,500 shares of Primerica stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $56.28, for a total transaction of $84,420.00. Following the transaction, the insider now directly owns 25,130 shares of the company’s stock, valued at $1,414,316.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joel M. Babbit sold 1,406 shares of Primerica stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $57.31, for a total transaction of $80,577.86. Following the transaction, the director now directly owns 1,915 shares in the company, valued at $109,748.65. The disclosure for this sale can be found here. Corporate insiders own 1.24% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. BB&T Securities LLC raised its position in shares of Primerica by 0.7% in the second quarter. BB&T Securities LLC now owns 11,832 shares of the company’s stock valued at $677,000 after buying an additional 77 shares during the last quarter. M&T Bank Corp raised its position in shares of Primerica by 2.0% in the second quarter. M&T Bank Corp now owns 4,704 shares of the company’s stock valued at $269,000 after buying an additional 91 shares during the last quarter. Huntington National Bank raised its position in shares of Primerica by 4.2% in the second quarter. Huntington National Bank now owns 2,969 shares of the company’s stock valued at $170,000 after buying an additional 119 shares during the last quarter. BOKF NA raised its position in shares of Primerica by 1.6% in the second quarter. BOKF NA now owns 9,827 shares of the company’s stock valued at $563,000 after buying an additional 155 shares during the last quarter. Finally, LS Investment Advisors LLC raised its position in shares of Primerica by 5.6% in the third quarter. LS Investment Advisors LLC now owns 3,014 shares of the company’s stock valued at $160,000 after buying an additional 161 shares during the last quarter.
Several research firms have recently weighed in on PRI. Zacks Investment Research raised Primerica from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Friday, August 12th. Wells Fargo & Co. began coverage on Primerica in a report on Thursday, September 22nd. They set a “market perform” rating on the stock.
Primerica Inc (Primerica) distributes financial products to middle-income households. The Company operates through three segments. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance company subsidiaries.
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