Primerica, Inc. (NYSE:PRI) – Stock analysts at William Blair increased their Q3 2018 earnings per share estimates for Primerica in a research note issued to investors on Wednesday. William Blair analyst A. Klauber now expects that the financial services provider will post earnings per share of $1.64 for the quarter, up from their previous forecast of $1.63. William Blair also issued estimates for Primerica’s Q4 2018 earnings at $1.59 EPS and FY2019 earnings at $6.96 EPS.
Several other analysts also recently issued reports on PRI. BidaskClub raised shares of Primerica from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. Wells Fargo & Company restated a “hold” rating on shares of Primerica in a report on Tuesday, August 8th. Zacks Investment Research cut shares of Primerica from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Keefe, Bruyette & Woods restated a “hold” rating and set a $87.00 price target on shares of Primerica in a report on Monday, October 16th. Finally, SunTrust Banks, Inc. cut shares of Primerica from a “buy” rating to a “hold” rating in a report on Thursday, October 19th. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Primerica has an average rating of “Hold” and an average price target of $90.50.
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Primerica (NYSE PRI) opened at $99.60 on Monday. The stock has a market capitalization of $4,407.11, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. Primerica has a twelve month low of $67.40 and a twelve month high of $100.65.
Primerica (NYSE:PRI) last announced its earnings results on Tuesday, November 7th. The financial services provider reported $1.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.09. Primerica had a return on equity of 18.94% and a net margin of 14.55%. The firm had revenue of $427.30 million for the quarter, compared to analysts’ expectations of $425.83 million. During the same quarter in the previous year, the company earned $1.22 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. World Asset Management Inc grew its stake in shares of Primerica by 0.6% during the second quarter. World Asset Management Inc now owns 2,856 shares of the financial services provider’s stock valued at $216,000 after purchasing an additional 18 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of Primerica by 1.9% during the second quarter. Teacher Retirement System of Texas now owns 3,669 shares of the financial services provider’s stock valued at $278,000 after purchasing an additional 69 shares during the last quarter. Balyasny Asset Management LLC grew its stake in shares of Primerica by 0.8% during the second quarter. Balyasny Asset Management LLC now owns 12,712 shares of the financial services provider’s stock valued at $963,000 after purchasing an additional 100 shares during the last quarter. Amalgamated Bank grew its stake in shares of Primerica by 1.8% during the second quarter. Amalgamated Bank now owns 6,552 shares of the financial services provider’s stock valued at $496,000 after purchasing an additional 113 shares during the last quarter. Finally, Texas Permanent School Fund grew its stake in shares of Primerica by 0.4% during the second quarter. Texas Permanent School Fund now owns 33,221 shares of the financial services provider’s stock valued at $2,516,000 after purchasing an additional 133 shares during the last quarter. 93.83% of the stock is owned by institutional investors.
In other news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $80.68, for a total transaction of $242,040.00. Following the completion of the sale, the chief executive officer now owns 77,895 shares of the company’s stock, valued at $6,284,568.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Gregory C. Pitts sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $92.40, for a total transaction of $462,000.00. The disclosure for this sale can be found here. Insiders sold 11,301 shares of company stock valued at $957,113 in the last three months. Company insiders own 0.86% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.80%. The ex-dividend date is Thursday, November 16th. Primerica’s dividend payout ratio (DPR) is presently 15.56%.
Primerica Company Profile
Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance company subsidiaries.
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