William Blair Weighs in on Primerica, Inc.’s Q3 2018 Earnings (PRI)
Primerica, Inc. (NYSE:PRI) – Equities researchers at William Blair issued their Q3 2018 earnings estimates for Primerica in a report released on Wednesday, August 8th. William Blair analyst A. Klauber expects that the financial services provider will post earnings per share of $1.85 for the quarter. William Blair also issued estimates for Primerica’s Q4 2018 earnings at $1.87 EPS, FY2018 earnings at $7.15 EPS, Q1 2019 earnings at $1.80 EPS, Q2 2019 earnings at $2.15 EPS, Q3 2019 earnings at $2.09 EPS, Q4 2019 earnings at $2.07 EPS and FY2019 earnings at $8.10 EPS.
PRI has been the topic of several other research reports. ValuEngine upgraded Primerica from a “hold” rating to a “buy” rating in a research report on Saturday, July 28th. Zacks Investment Research upgraded Primerica from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a report on Saturday. Wells Fargo & Co set a $102.00 price target on Primerica and gave the stock a “hold” rating in a report on Tuesday, May 8th. SunTrust Banks increased their price target on Primerica to $118.00 and gave the stock a “hold” rating in a report on Monday, July 30th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $112.00 price target on shares of Primerica in a report on Thursday, July 19th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $116.00.
Primerica (NYSE:PRI) last announced its earnings results on Tuesday, August 7th. The financial services provider reported $1.93 EPS for the quarter, beating the consensus estimate of $1.81 by $0.12. Primerica had a return on equity of 21.07% and a net margin of 21.55%. The company had revenue of $467.82 million for the quarter, compared to analyst estimates of $466.82 million. During the same quarter in the prior year, the company earned $1.36 EPS.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Tuesday, August 21st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 20th. This represents a $1.00 annualized dividend and a yield of 0.86%. Primerica’s payout ratio is currently 18.12%.
In other news, VP Gregory C. Pitts sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 9th. The stock was sold at an average price of $105.04, for a total value of $315,120.00. Following the transaction, the vice president now owns 15,058 shares in the company, valued at $1,581,692.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William A. Kelly sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $104.38, for a total value of $130,475.00. Following the completion of the transaction, the insider now owns 17,772 shares in the company, valued at approximately $1,855,041.36. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in shares of Primerica by 11.3% in the first quarter. Royal Bank of Canada now owns 32,996 shares of the financial services provider’s stock valued at $3,186,000 after purchasing an additional 3,349 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Primerica by 2.3% in the first quarter. Millennium Management LLC now owns 82,283 shares of the financial services provider’s stock valued at $7,949,000 after purchasing an additional 1,825 shares in the last quarter. Federated Investors Inc. PA lifted its holdings in shares of Primerica by 79.5% in the first quarter. Federated Investors Inc. PA now owns 102,307 shares of the financial services provider’s stock valued at $9,883,000 after purchasing an additional 45,302 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Primerica by 24.3% in the first quarter. JPMorgan Chase & Co. now owns 547,358 shares of the financial services provider’s stock valued at $52,875,000 after purchasing an additional 106,866 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Primerica by 26.2% in the first quarter. Hsbc Holdings PLC now owns 11,422 shares of the financial services provider’s stock valued at $1,104,000 after purchasing an additional 2,371 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.
Primerica, Inc, together with its subsidiaries, distributes financial products to middle income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.
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