Primerica, Inc. (NYSE:PRI) issued its quarterly earnings data on Tuesday. The financial services provider reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.01, Briefing.com reports. Primerica had a net margin of 14.49% and a return on equity of 18.22%. The business had revenue of $413.70 million during the quarter, compared to analysts’ expectations of $410.97 million. During the same period last year, the company posted $1.23 EPS. The business’s revenue was up 9.2% on a year-over-year basis.
Primerica (NYSE PRI) traded down 1.83% during midday trading on Wednesday, hitting $80.25. 439,827 shares of the stock traded hands. Primerica has a 52-week low of $51.94 and a 52-week high of $86.45. The firm has a market cap of $3.65 billion, a PE ratio of 16.77 and a beta of 1.14. The stock has a 50-day moving average of $77.85 and a 200 day moving average of $78.79.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 18th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Wednesday, August 16th. This is a positive change from Primerica’s previous quarterly dividend of $0.19. Primerica’s dividend payout ratio (DPR) is 15.93%.
A number of brokerages have commented on PRI. William Blair cut shares of Primerica from an “outperform” rating to a “market perform” rating in a research note on Friday, April 21st. They noted that the move was a valuation call. Wells Fargo & Company cut shares of Primerica from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 20th. BidaskClub raised shares of Primerica from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $81.00 price objective on shares of Primerica in a research note on Friday, May 12th. Finally, Zacks Investment Research cut shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, May 12th. Six analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $78.20.
In other Primerica news, VP Alison S. Rand sold 2,000 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $71.55, for a total value of $143,100.00. Following the completion of the sale, the vice president now owns 37,385 shares of the company’s stock, valued at $2,674,896.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.24% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Primerica by 6.5% in the first quarter. Vanguard Group Inc. now owns 5,071,986 shares of the financial services provider’s stock worth $416,917,000 after buying an additional 307,797 shares during the period. BlackRock Inc. increased its stake in Primerica by 22,346.4% in the first quarter. BlackRock Inc. now owns 4,448,197 shares of the financial services provider’s stock worth $365,642,000 after buying an additional 4,428,380 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its stake in Primerica by 1.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,426,797 shares of the financial services provider’s stock worth $259,581,000 after buying an additional 54,537 shares during the period. State Street Corp increased its stake in Primerica by 2.7% in the first quarter. State Street Corp now owns 1,758,135 shares of the financial services provider’s stock worth $144,519,000 after buying an additional 46,400 shares during the period. Finally, FMR LLC increased its stake in Primerica by 10.7% in the first quarter. FMR LLC now owns 1,752,471 shares of the financial services provider’s stock worth $144,053,000 after buying an additional 169,689 shares during the period. 97.09% of the stock is owned by institutional investors.
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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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