Primerica Inc. (PRI) Forecasted to Earn FY2016 Earnings of $4.55 Per Share
Primerica Inc. (NYSE:PRI) – Stock analysts at SunTrust Banks lifted their FY2016 earnings per share estimates for shares of Primerica in a research note issued on Thursday. SunTrust Banks analyst M. Hughes now forecasts that the brokerage will earn $4.55 per share for the year, up from their prior estimate of $4.45. SunTrust Banks has a “Buy” rating and a $83.00 price target on the stock. SunTrust Banks also issued estimates for Primerica’s Q1 2017 earnings at $1.19 EPS, Q2 2017 earnings at $1.26 EPS and FY2017 earnings at $5.00 EPS.
Primerica (NYSE:PRI) last released its earnings results on Wednesday, November 9th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.09. Primerica had a return on equity of 17.78% and a net margin of 14.22%. The firm had revenue of $383.60 million for the quarter, compared to the consensus estimate of $378.67 million. During the same period in the prior year, the firm earned $0.98 EPS. The firm’s revenue was up 7.8% on a year-over-year basis.
Several other brokerages have also recently commented on PRI. Zacks Investment Research raised shares of Primerica from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research report on Saturday. Wells Fargo & Co. began coverage on shares of Primerica in a research report on Thursday, September 22nd. They issued a “market perform” rating for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $73.33.
Primerica (NYSE:PRI) opened at 68.80 on Friday. Primerica has a 52-week low of $37.09 and a 52-week high of $70.10. The company has a 50 day moving average price of $55.57 and a 200 day moving average price of $54.97. The firm has a market capitalization of $3.16 billion, a P/E ratio of 15.87 and a beta of 1.02.
Several large investors have recently added to or reduced their stakes in the company. British Airways Pensions Investment Management Ltd purchased a new stake in Primerica during the second quarter valued at about $15,575,000. RS Investment Management Co. LLC boosted its stake in Primerica by 23.5% in the second quarter. RS Investment Management Co. LLC now owns 1,247,548 shares of the company’s stock valued at $71,410,000 after buying an additional 237,260 shares during the period. BlackRock Group LTD boosted its stake in Primerica by 68.3% in the first quarter. BlackRock Group LTD now owns 48,512 shares of the company’s stock valued at $2,161,000 after buying an additional 19,683 shares during the period. Huntington National Bank boosted its stake in 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 period. Finally, M&T Bank Corp boosted its stake in Primerica by 5.7% in the first quarter. M&T Bank Corp now owns 4,613 shares of the company’s stock valued at $205,000 after buying an additional 247 shares during the period.
In other news, insider William A. Kelly sold 1,500 shares of Primerica stock in a transaction 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 completion of the sale, the insider now directly owns 25,130 shares of the company’s stock, valued at approximately $1,414,316.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joel M. Babbit sold 1,406 shares of Primerica stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $57.31, for a total transaction of $80,577.86. Following the sale, the director now directly owns 1,915 shares of the company’s stock, valued at $109,748.65. The disclosure for this sale can be found here. Insiders own 1.24% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, November 18th will be given a dividend of $0.18 per share. The ex-dividend date is Wednesday, November 16th. This represents a $0.72 annualized dividend and a dividend yield of 1.05%. Primerica’s dividend payout ratio (DPR) is currently 16.59%.
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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