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

Primerica (NYSE:PRI) released its earnings results on Wednesday. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.03 by $0.38, Zacks reports. Primerica had a return on equity of 32.79% and a net margin of 23.20%.The firm had revenue of $865.07 million during the quarter, compared to analysts’ expectations of $881.00 million. During the same quarter in the prior year, the company earned $5.46 EPS. The company’s revenue was up 9.0% on a year-over-year basis.

Primerica Trading Up 1.6%

Shares of Primerica stock traded up $5.03 on Thursday, reaching $325.62. 301,350 shares of the company were exchanged, compared to its average volume of 171,757. The company has a market capitalization of $10.15 billion, a price-to-earnings ratio of 13.08 and a beta of 0.87. Primerica has a one year low of $230.09 and a one year high of $327.28. The company has a 50-day moving average of $294.45 and a 200 day moving average of $274.38.

Primerica Dividend Announcement

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

Insider Buying and Selling at Primerica

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

Institutional Investors Weigh In On Primerica

Hedge funds have recently bought and sold shares of the company. Virtu Financial LLC bought a new position in Primerica during the fourth quarter worth $387,000. Invesco Ltd. lifted its stake in shares of Primerica by 200.3% during the 4th quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock worth $92,414,000 after buying an additional 238,571 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Primerica by 413.6% during the 4th quarter. Corient Private Wealth LLC now owns 48,049 shares of the financial services provider’s stock worth $12,414,000 after buying an additional 38,694 shares during the period. SkyView Investment Advisors LLC grew its stake in Primerica by 0.7% in the 4th quarter. SkyView Investment Advisors LLC now owns 6,942 shares of the financial services provider’s stock valued at $1,794,000 after buying an additional 46 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its position in shares of Primerica by 7.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 284,890 shares of the financial services provider’s stock valued at $73,604,000 after purchasing an additional 19,167 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

About Primerica

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.