Primerica (PRI) to Release Earnings on Monday

Posted by Defense World Staff on May 6th, 2023

Primerica (NYSE:PRI – Get Rating) is set to issue its quarterly earnings data after the market closes on Monday, May 8th. Analysts expect the company to announce earnings of $3.45 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Primerica (NYSE:PRI – Get Rating) last announced its quarterly earnings results on Friday, February 24th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $2.93 by $0.56. Primerica had a net margin of 13.71% and a return on equity of 24.87%. The business had revenue of $686.94 million for the quarter, compared to analyst estimates of $694.90 million. During the same quarter in the prior year, the business earned $2.94 EPS. Primerica’s quarterly revenue was down 5.1% on a year-over-year basis. On average, analysts expect Primerica to post $15 EPS for the current fiscal year and $17 EPS for the next fiscal year.

Primerica Stock Performance

Shares of PRI opened at $182.12 on Friday. Primerica has a 52 week low of $110.22 and a 52 week high of $195.69. The firm has a market cap of $6.65 billion, a P/E ratio of 18.66 and a beta of 1.18. The firm’s 50-day simple moving average is $174.17 and its 200 day simple moving average is $157.41.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 14th. Investors of record on Tuesday, February 21st were paid a $0.65 dividend. The ex-dividend date was Friday, February 17th. This represents a $2.60 dividend on an annualized basis and a yield of 1.43%. This is a positive change from Primerica’s previous quarterly dividend of $0.55. Primerica’s dividend payout ratio is 26.64%.

Insider Transactions at Primerica

In other news, CFO Alison S. Rand sold 9,800 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $185.66, for a total transaction of $1,819,468.00. Following the completion of the sale, the chief financial officer now owns 13,944 shares of the company’s stock, valued at approximately $2,588,843.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, COO Gregory C. Pitts sold 12,903 shares of the stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $186.71, for a total value of $2,409,119.13. Following the completion of the transaction, the chief operating officer now owns 8,180 shares of the company’s stock, valued at approximately $1,527,287.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Alison S. Rand sold 9,800 shares of the stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $185.66, for a total transaction of $1,819,468.00. Following the completion of the transaction, the chief financial officer now directly owns 13,944 shares of the company’s stock, valued at approximately $2,588,843.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,168 shares of company stock valued at $7,238,391. Company insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Primerica

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. bought a new position in Primerica in the 3rd quarter valued at approximately $285,000. US Bancorp DE lifted its stake in Primerica by 1,844.1% in the 1st quarter. US Bancorp DE now owns 1,983 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 1,881 shares during the last quarter. Cetera Advisor Networks LLC bought a new position in Primerica in the 4th quarter valued at approximately $269,000. Mariner LLC acquired a new position in Primerica in the 4th quarter valued at approximately $245,000. Finally, Kingsview Wealth Management LLC acquired a new position in Primerica in the 2nd quarter valued at approximately $241,000. Institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

PRI has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their price target on shares of Primerica from $167.00 to $195.00 and gave the company a “market perform” rating in a research note on Wednesday, March 1st. Truist Financial boosted their price objective on shares of Primerica from $160.00 to $210.00 and gave the company a “buy” rating in a report on Monday, February 27th. Morgan Stanley boosted their price objective on shares of Primerica from $150.00 to $162.00 and gave the company an “equal weight” rating in a report on Friday, February 24th. Raymond James began coverage on shares of Primerica in a report on Wednesday, April 12th. They issued a “strong-buy” rating and a $244.00 price objective for the company. Finally, StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $202.75.

About Primerica

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Primerica, Inc engages in the provision of financial products to middle-income households. It operates through the following segments: Term Life Insurance, Investment and Savings Products, Senior Health, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits in the in-force book of term life insurance policies.