Primerica (NYSE:PRI) Announces Earnings Results

Primerica (NYSE:PRI) released its quarterly earnings data on Wednesday. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $881.00 million. During the same quarter in the prior year, the company earned $5.46 earnings per share. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year.

Primerica Stock Up 1.6%

Shares of PRI traded up $5.03 during midday trading on Thursday, reaching $325.62. 301,350 shares of the stock were exchanged, compared to its average volume of 171,757. The stock’s 50 day simple moving average is $294.45 and its 200 day simple moving average is $274.38. The company has a market cap of $10.15 billion, a P/E ratio of 13.08 and a beta of 0.87. Primerica has a twelve month low of $230.09 and a twelve month high of $327.28.

Primerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 21st will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend 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 (DPR) is currently 20.13%.

Analyst Ratings Changes

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

Insider Activity

In other Primerica news, 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 value of $503,352.00. Following the completion of the sale, the president owned 9,811 shares in the company, valued at $2,743,548.04. The trade was a 15.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $280.49, for a total transaction of $420,735.00. Following the completion of the sale, the chief executive officer directly owned 33,696 shares of the company’s stock, valued at $9,451,391.04. This represents a 4.26% 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. Corporate insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Primerica

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

Primerica Company Profile

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.