Brokerages expect Primerica, Inc. (NYSE: PRI) to post sales of $ 671.82 million for the current fiscal quarter, reports Zacks Investment Research. Two analysts have made estimates for Primerica’s earnings. The lowest sales estimate is $ 670.33 million and the highest is $ 673.30 million. Primerica posted sales of $ 566.65 million in the same quarter last year, suggesting a positive year-over-year growth rate of 18.6%. The company is expected to release its next quarterly results after market close on Monday, November 8.
On average, analysts expect Primerica to report annual revenue of $ 2.68 billion for the current fiscal year, with estimates ranging from $ 2.55 billion to $ 2.85 billion. dollars. For next year, analysts predict the company will post sales of $ 2.89 billion, with estimates ranging from $ 2.68 billion to $ 3.12 billion. Zacks sales averages are an average based on a survey of research analysts who follow Primerica.
Primerica (NYSE: PRI) last released its quarterly earnings data on Monday, November 8. The financial services provider reported earnings per share (EPS) of $ 2.98 for the quarter, hitting analyst consensus estimates of $ 2.98. Primerica had a net margin of 17.82% and a return on equity of 23.32%. The company posted revenue of $ 693.24 million for the quarter, compared to a consensus estimate of $ 682.09 million. In the same quarter of the previous year, the company achieved EPS of $ 2.78. The company’s quarterly revenue increased 22.0% compared to the same quarter last year.
A number of research companies have recently published reports on PRI. Zacks Investment Research downgraded Primerica shares from a “buy” rating to a “hold” rating in a report released on Tuesday, September 21. Morgan Stanley raised its price target on Primerica shares from $ 170.00 to $ 175.00 and rated the company as “overweight” in a research report released Thursday, October 14. Finally, William Blair reissued an “outperformance” rating on Primerica shares in a research report on Monday, September 20. One research analyst rated the stock with a sell rating, another assigned a conservation rating, and three issued a buy rating for the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $ 166.83.
In other Primerica news, CFO Alison S. Rand sold 1,500 shares in a trade that took place on Tuesday, August 31. The shares were sold for an average price of $ 152.20, for a total value of $ 228,300.00. As a result of the transaction, the Chief Financial Officer now directly owns 13,347 shares of the company, valued at $ 2,031,413.40. The sale was disclosed in a legal file with the Securities & Exchange Commission, accessible through the SEC website. Additionally, President Peter W. Schneider sold 3,500 shares in a trade that took place on Friday, August 27. The shares were sold at an average price of $ 152.54, for a total trade of $ 533,890.00. Following the completion of the transaction, the President now owns 22,672 shares of the company, valued at $ 3,458,386.88. Disclosure of this sale can be found here. 0.90% of the shares are currently held by company insiders.
Several hedge funds have recently bought and sold shares in the company. Vanguard Group Inc. increased its holdings of Primerica shares by 0.8% in the second quarter. Vanguard Group Inc. now owns 4,534,284 shares of the financial services provider valued at $ 694,381,000 after acquiring an additional 35,957 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its holdings of Primerica shares by 3.2% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,140,693 shares of the financial services provider valued at $ 634,109,000 after acquiring an additional 130,160 shares during the period. FMR LLC increased its stake in Primerica shares by 31.3% during the second quarter. FMR LLC now owns 2,500,496 shares of the financial services provider valued at $ 382,926,000 after purchasing an additional 595,992 shares during the period. State Street Corp increased its holdings of Primerica shares by 11.5% in the second quarter. State Street Corp now owns 1,067,652 shares of the financial services provider worth $ 163,500,000 after purchasing an additional 109,815 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Primerica shares by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 768,562 shares of the financial services provider valued at $ 117,697,000 after purchasing 2,442 additional shares during the period. 89.40% of the shares are held by institutional investors and hedge funds.
NYSE: PRI opened at $ 175.17 on Tuesday. The company has a market cap of $ 6.91 billion, a price-to-earnings ratio of 15.91 and a beta of 1.45. The company has a 50-day moving average price of $ 158.67 and a 200-day moving average price of $ 155.52. The company has a debt ratio of 0.06, a current ratio of 0.55, and a rapid ratio of 0.55. Primerica has a one-year low of $ 121.38 and a one-year high of $ 179.51.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 14. Investors of record on Monday, November 22 will receive a dividend of $ 0.47 per share. This represents a dividend of $ 1.88 on an annualized basis and a dividend yield of 1.07%. Primerica’s payout ratio is 19.38%.
Primerica, Inc is committed to providing financial products to middle income households. It operates in the following segments: term life insurance, investment and savings products and business products and other distributed products. The Term Life Insurance segment includes underwriting profits in the in-force term life insurance policy portfolio.
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