Q2 2022 EPS Estimates for Primerica, Inc. (NYSE:PRI) Cut by Jefferies Financial Group

Primerica, Inc. (NYSE:PRIGet Rating) – Equities research analysts at Jefferies Financial Group lowered their Q2 2022 earnings estimates for shares of Primerica in a research report issued to clients and investors on Sunday, June 5th. Jefferies Financial Group analyst D. Bergman now forecasts that the financial services provider will earn $3.10 per share for the quarter, down from their previous forecast of $3.40. Jefferies Financial Group also issued estimates for Primerica’s Q3 2022 earnings at $3.14 EPS, Q4 2022 earnings at $3.52 EPS, Q1 2023 earnings at $3.06 EPS, Q2 2023 earnings at $3.63 EPS, Q3 2023 earnings at $3.54 EPS, Q4 2023 earnings at $3.99 EPS, FY2023 earnings at $14.20 EPS, FY2024 earnings at $15.90 EPS, FY2025 earnings at $17.65 EPS and FY2026 earnings at $19.50 EPS.

Other equities research analysts also recently issued reports about the company. StockNews.com began coverage on Primerica in a report on Thursday, March 31st. They set a “hold” rating on the stock. Credit Suisse Group decreased their price objective on Primerica from $199.00 to $187.00 and set an “outperform” rating on the stock in a report on Tuesday, March 1st. William Blair reaffirmed an “outperform” rating on shares of Primerica in a report on Tuesday, February 15th. Truist Financial reduced their target price on Primerica from $197.00 to $187.00 in a report on Wednesday, February 16th. Finally, Morgan Stanley downgraded Primerica from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $153.00 to $148.00 in a report on Thursday, May 19th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $166.00.

NYSE PRI opened at $126.12 on Tuesday. The stock’s 50 day moving average is $129.24 and its two-hundred day moving average is $139.62. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 14.06 and a beta of 1.36. Primerica has a 1-year low of $113.99 and a 1-year high of $179.51.

Primerica (NYSE:PRIGet Rating) last released its earnings results on Thursday, May 5th. The financial services provider reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.68). The firm had revenue of $691.30 million for the quarter, compared to analyst estimates of $731.25 million. Primerica had a return on equity of 22.07% and a net margin of 12.92%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business earned $2.44 earnings per share.

Several institutional investors have recently modified their holdings of PRI. Covestor Ltd raised its position in shares of Primerica by 74.7% during the 1st quarter. Covestor Ltd now owns 255 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 109 shares during the last quarter. National Bank of Canada FI bought a new stake in shares of Primerica during the 4th quarter valued at $43,000. City State Bank bought a new stake in shares of Primerica during the 4th quarter valued at $43,000. Signaturefd LLC raised its position in shares of Primerica by 84.2% during the 1st quarter. Signaturefd LLC now owns 420 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 192 shares during the last quarter. Finally, HM Payson & Co. bought a new stake in shares of Primerica during the 1st quarter valued at $72,000. Institutional investors own 90.90% of the company’s stock.

In related news, CEO Glenn J. Williams sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $119.32, for a total value of $477,280.00. Following the completion of the transaction, the chief executive officer now owns 62,215 shares in the company, valued at approximately $7,423,493.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.85% of the company’s stock.

Primerica declared that its Board of Directors has initiated a stock repurchase plan on Monday, February 14th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the financial services provider to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 14th. Investors of record on Friday, May 20th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Thursday, May 19th. Primerica’s dividend payout ratio (DPR) is presently 24.53%.

About Primerica (Get Rating)

Primerica, Inc, together with its subsidiaries, provides financial products 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. The Term Life Insurance segment underwrites individual term life insurance products.

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