Primerica (NYSE:PRI) Posts Earnings Results

Primerica (NYSE:PRI) announced its earnings results on Tuesday. The financial services provider reported $5.03 EPS for the quarter, beating analysts’ consensus estimates of $4.81 by $0.22, Zacks reports. Primerica had a return on equity of 30.93% and a net margin of 14.95%.

Primerica Trading Down 0.8 %

Primerica stock traded down $2.42 during mid-day trading on Tuesday, hitting $290.74. The company’s stock had a trading volume of 189,285 shares, compared to its average volume of 138,385. The firm has a market capitalization of $9.70 billion, a PE ratio of 22.21 and a beta of 1.11. Primerica has a 1 year low of $184.76 and a 1 year high of $307.91. The stock’s fifty day moving average is $283.22 and its two-hundred day moving average is $275.15.

Primerica announced that its board has initiated a share repurchase plan on Thursday, November 14th that authorizes the company to repurchase $450.00 million in shares. This repurchase authorization authorizes the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Truist Financial increased their target price on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. BMO Capital Markets assumed coverage on Primerica in a report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price for the company. Piper Sandler reduced their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. TD Cowen increased their target price on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods dropped their price target on Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $304.14.

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.