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

Primerica (NYSE:PRI) issued its earnings results on Monday. The financial services provider reported $3.91 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $742.83 million for the quarter, compared to analyst estimates of $740.57 million. During the same quarter in the previous year, the firm posted $3.49 earnings per share. Primerica’s quarterly revenue was up 7.7% on a year-over-year basis.

Primerica Price Performance

PRI traded up $4.56 during trading on Monday, hitting $222.55. The stock had a trading volume of 227,985 shares, compared to its average volume of 163,156. The company has a 50 day moving average price of $237.59 and a 200-day moving average price of $223.21. Primerica has a one year low of $176.81 and a one year high of $256.56. The firm has a market cap of $7.72 billion, a price-to-earnings ratio of 13.73 and a beta of 1.10.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Wednesday, February 21st were paid a dividend of $0.75 per share. The ex-dividend date was Tuesday, February 20th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.35%. This is a positive change from Primerica’s previous quarterly dividend of $0.65. Primerica’s dividend payout ratio (DPR) is 18.89%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Primerica

In other news, COO Gregory C. Pitts sold 3,759 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $245.43, for a total value of $922,571.37. Following the completion of the sale, the chief operating officer now owns 3,379 shares of the company’s stock, valued at $829,307.97. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Primerica news, COO Gregory C. Pitts sold 3,759 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $245.43, for a total transaction of $922,571.37. Following the transaction, the chief operating officer now owns 3,379 shares in the company, valued at approximately $829,307.97. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $249.81, for a total transaction of $58,455.54. Following the completion of the sale, the insider now owns 100 shares of the company’s stock, valued at $24,981. The disclosure for this sale can be found here. Insiders have sold a total of 6,708 shares of company stock valued at $1,648,677 in the last ninety days. 0.61% of the stock is currently owned by corporate insiders.

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.