Primerica (NYSE:PRI) Posts Earnings Results, Beats Estimates By $0.38 EPS

Primerica (NYSE:PRI) announced its quarterly earnings results on Wednesday. The financial services provider reported $6.41 EPS for the quarter, beating analysts’ consensus estimates of $6.03 by $0.38, Zacks reports. Primerica had a net margin of 23.20% and a return on equity of 32.79%. The firm had revenue of $865.07 million during the quarter, compared to the consensus estimate of $881.00 million. During the same quarter last year, the firm earned $5.46 EPS. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year.

Primerica Trading Down 1.7%

Shares of PRI traded down $5.58 during midday trading on Friday, reaching $320.83. 101,332 shares of the stock were exchanged, compared to its average volume of 205,464. Primerica has a 52 week low of $230.09 and a 52 week high of $327.28. The company’s 50 day moving average is $294.45 and its two-hundred day moving average is $274.38. The company has a market capitalization of $10.00 billion, a P/E ratio of 12.91 and a beta of 0.87.

Primerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, August 21st will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, August 21st. Primerica’s dividend payout ratio is currently 20.13%.

Analyst Ratings Changes

PRI has been the subject of a number of recent research reports. Morgan Stanley lifted their target price on Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Jefferies Financial Group boosted their price objective on shares of Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a research report on Friday, July 10th. TD Cowen increased their target price on shares of Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Weiss Ratings raised shares of Primerica from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, July 24th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Primerica from $305.00 to $323.00 and gave the stock a “market perform” rating in a report on Monday, July 13th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Primerica presently has an average rating of “Hold” and a consensus price target of $308.67.

Insider Activity

In related news, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $279.64, for a total value of $503,352.00. Following the completion of the sale, the president directly owned 9,811 shares in the company, valued at $2,743,548.04. The trade was a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $280.49, for a total transaction of $420,735.00. Following the completion of the sale, the chief executive officer directly owned 33,696 shares of the company’s stock, valued at approximately $9,451,391.04. This trade represents a 4.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Primerica

Hedge funds and other institutional investors have recently modified their holdings of the business. Orion Porfolio Solutions LLC lifted its holdings in shares of Primerica by 1.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,866 shares of the financial services provider’s stock valued at $1,058,000 after buying an additional 45 shares during the period. SkyView Investment Advisors LLC raised its position in Primerica by 0.7% in the fourth quarter. SkyView Investment Advisors LLC now owns 6,942 shares of the financial services provider’s stock worth $1,794,000 after acquiring an additional 46 shares in the last quarter. Vident Advisory LLC lifted its holdings in Primerica by 3.2% in the second quarter. Vident Advisory LLC now owns 1,776 shares of the financial services provider’s stock valued at $486,000 after acquiring an additional 55 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Primerica by 24.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 327 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 64 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of Primerica by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 10,300 shares of the financial services provider’s stock valued at $2,859,000 after purchasing an additional 64 shares during the period. 90.88% of the stock is currently owned by institutional investors.

Primerica Company Profile

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.