Primerica (NYSE:PRI) Issues Earnings Results

Primerica (NYSE:PRI) released its earnings results on Monday. The financial services provider reported $3.91 earnings per share for the quarter, missing analysts’ consensus estimates of $4.12 by ($0.21), Briefing.com reports. The company had revenue of $742.83 million for the quarter, compared to the consensus estimate of $740.57 million. Primerica had a net margin of 20.37% and a return on equity of 27.83%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.49 earnings per share.

Primerica Stock Performance

NYSE:PRI traded up $4.56 during mid-day trading on Monday, reaching $222.55. The stock had a trading volume of 227,985 shares, compared to its average volume of 163,156. The stock has a market capitalization of $7.72 billion, a P/E ratio of 13.73 and a beta of 1.10. The firm has a 50 day moving average price of $237.59 and a two-hundred day moving average price of $223.21. Primerica has a one year low of $176.81 and a one year high of $256.56.

Primerica Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, February 20th. This is a positive change from Primerica’s previous quarterly dividend of $0.65. This represents a $3.00 annualized dividend and a dividend yield of 1.35%. Primerica’s dividend payout ratio is 18.89%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Primerica

In other Primerica news, Director John A. Jr. Addison sold 1,215 shares of Primerica stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $249.00, for a total transaction of $302,535.00. Following the transaction, the director now directly owns 16,467 shares of the company’s stock, valued at $4,100,283. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director John A. Jr. Addison sold 1,215 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $249.00, for a total transaction of $302,535.00. Following the completion of the sale, the director now directly owns 16,467 shares in the company, valued at approximately $4,100,283. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total value of $58,455.54. Following the completion of the transaction, the insider now directly owns 100 shares in the company, valued at $24,981. The disclosure for this sale can be found here. Insiders have sold 6,708 shares of company stock worth $1,648,677 over the last ninety days. Insiders own 0.61% of the company’s stock.

About Primerica

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.