Primerica (NYSE:PRI) Releases Earnings Results, Misses Expectations By $0.21 EPS

Primerica (NYSE:PRI) posted its quarterly earnings results on Monday. The financial services provider reported $3.91 earnings per share for the quarter, missing the consensus estimate of $4.12 by ($0.21), Briefing.com reports. Primerica had a return on equity of 27.83% and a net margin of 20.37%. The business had revenue of $742.83 million during the quarter, compared to analysts’ expectations of $740.57 million. During the same period in the prior year, the business posted $3.49 earnings per share. The business’s quarterly revenue was up 7.7% on a year-over-year basis.

Primerica Price Performance

Shares of PRI stock opened at $222.75 on Tuesday. Primerica has a 1-year low of $176.81 and a 1-year high of $256.56. The firm has a market cap of $7.73 billion, a PE ratio of 14.03 and a beta of 1.10. The company has a 50-day moving average of $237.10 and a two-hundred day moving average of $223.33.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Wednesday, February 21st were issued a $0.75 dividend. This is a positive change from Primerica’s previous quarterly dividend of $0.65. This represents a $3.00 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Tuesday, February 20th. Primerica’s payout ratio is 18.89%.

Insider Activity

In other Primerica news, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $243.41, for a total transaction of $365,115.00. Following the transaction, the president now directly owns 13,259 shares in the company, valued at $3,227,373.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Primerica news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $243.41, for a total value of $365,115.00. Following the completion of the transaction, the president now directly owns 13,259 shares of the company’s stock, valued at approximately $3,227,373.19. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total transaction of $58,455.54. Following the sale, the insider now directly owns 100 shares in the company, valued at approximately $24,981. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,708 shares of company stock valued at $1,648,677. Company insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Raymond James lowered shares of Primerica from a “strong-buy” rating to a “market perform” rating in a research note on Monday, February 12th. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Keefe, Bruyette & Woods boosted their price target on shares of Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Morgan Stanley raised their price objective on shares of Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Finally, Truist Financial boosted their target price on shares of Primerica from $260.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $245.50.

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.