Primerica (NYSE:PRI) Announces Earnings Results

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

Primerica Stock Up 2.2 %

Shares of NYSE:PRI opened at $222.75 on Tuesday. Primerica has a fifty-two week low of $176.81 and a fifty-two week high of $256.56. The company has a market cap of $7.73 billion, a PE ratio of 14.03 and a beta of 1.10. The company’s 50-day moving average price is $237.10 and its 200 day moving average price is $223.33.

Primerica Increases Dividend

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

Analyst Ratings Changes

A number of research analysts have commented on PRI shares. Truist Financial increased their target price on Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Raymond James downgraded shares of Primerica from a “strong-buy” rating to a “market perform” rating in a report on Monday, February 12th. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a report on Thursday, March 7th. Keefe, Bruyette & Woods lifted their price target on shares of Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Finally, Morgan Stanley increased their price objective on shares of Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $245.50.

Insider Buying and Selling at Primerica

In other news, COO Gregory C. Pitts sold 3,759 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $245.43, for a total transaction of $922,571.37. Following the completion of the transaction, the chief operating officer now directly owns 3,379 shares in the company, valued at $829,307.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director John A. Jr. Addison sold 1,215 shares of the firm’s 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 owns 16,467 shares in the company, valued at $4,100,283. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Gregory C. Pitts sold 3,759 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $245.43, for a total value of $922,571.37. Following the sale, the chief operating officer now directly owns 3,379 shares in the company, valued at approximately $829,307.97. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,708 shares of company stock worth $1,648,677. 0.61% of the stock is owned by company insiders.

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.