Primerica (NYSE:PRI) Releases Earnings Results, Misses Estimates By $0.21 EPS

Primerica (NYSE:PRI) posted its earnings results on Monday. The financial services provider reported $3.91 EPS for the quarter, missing the consensus estimate 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 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 last year, the business earned $3.49 EPS.

Primerica Stock Performance

Shares of NYSE PRI traded up $4.56 during trading hours on Monday, hitting $222.55. 227,998 shares of the stock were exchanged, compared to its average volume of 163,156. The company’s fifty day simple moving average is $237.59 and its two-hundred day simple moving average is $223.21. The company has a market cap of $7.72 billion, a PE ratio of 13.73 and a beta of 1.10. Primerica has a 1-year low of $176.81 and a 1-year high of $256.56.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Wednesday, February 21st were given a $0.75 dividend. The ex-dividend date was Tuesday, February 20th. This is a boost 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 payout ratio is presently 18.89%.

Insider Activity

In other Primerica news, Director John A. Jr. Addison sold 1,215 shares of Primerica stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $249.00, for a total value 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 SEC, which is accessible through this hyperlink. In related 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 sale, the director now directly owns 16,467 shares of the company’s stock, valued at approximately $4,100,283. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Gregory C. Pitts sold 3,759 shares of the company’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 transaction, the chief operating officer now owns 3,379 shares of the company’s stock, valued at $829,307.97. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,708 shares of company stock worth $1,648,677. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

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

Primerica Company Profile

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.