Primerica (PRI) Projected to Post Quarterly Earnings on Tuesday

Primerica (NYSE:PRI) will likely be announcing its earnings results after the market closes on Tuesday, February 11th. Analysts expect the company to announce earnings of $4.81 per share and revenue of $772.58 million for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.81 by $0.87. The company had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.28 EPS. On average, analysts expect Primerica to post $20 EPS for the current fiscal year and $21 EPS for the next fiscal year.

Primerica Stock Up 0.0 %

PRI stock opened at $290.31 on Tuesday. The company has a 50-day simple moving average of $284.35 and a 200 day simple moving average of $273.28. The company has a market capitalization of $9.69 billion, a P/E ratio of 22.18 and a beta of 1.11. Primerica has a fifty-two week low of $184.76 and a fifty-two week high of $307.91.

Primerica announced that its board has approved a share buyback program on Thursday, November 14th that permits the company to repurchase $450.00 million in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Primerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Thursday, November 21st. Primerica’s dividend payout ratio is currently 27.50%.

Insider Buying and Selling

In other news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the transaction, the chief executive officer now owns 36,322 shares in the company, valued at approximately $10,942,728.94. This trade represents a 7.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on PRI. Piper Sandler cut their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. BMO Capital Markets assumed coverage on shares of Primerica in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price target on the stock. Truist Financial increased their price objective on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. TD Cowen boosted their target price on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $304.14.

About Primerica

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.