Primerica (NYSE:PRI) Releases Quarterly Earnings Results, Beats Expectations By $0.37 EPS

by · The Markets Daily

Primerica (NYSE:PRI – Get Free Report) issued its quarterly earnings data on Wednesday. The financial services provider reported $6.77 earnings per share for the quarter, beating the consensus estimate of $6.40 by $0.37, FiscalAI reports. Primerica had a return on equity of 32.45% and a net margin of 23.20%. The business had revenue of $901.82 million for the quarter, compared to analysts’ expectations of $901.00 million. During the same period last year, the business earned $6.33 EPS.

Primerica Stock Performance

NYSE PRI traded up $4.21 during trading on Wednesday, hitting $284.44. 259,629 shares of the company’s stock traded hands, compared to its average volume of 181,262. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 11.42 and a beta of 0.86. Primerica has a 12-month low of $230.09 and a 12-month high of $327.28. The business has a 50 day moving average of $283.25 and a 200-day moving average of $278.77.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PRI shares. Weiss Ratings cut shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Keefe, Bruyette & Woods decreased their price target on shares of Primerica from $335.00 to $330.00 and set a “market perform” rating for the company in a research note on Friday, October 9th. Morgan Stanley lifted their price target on shares of Primerica from $291.00 to $316.00 and gave the stock an “equal weight” rating in a report on Monday, August 24th. Jefferies Financial Group upped their price objective on Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Finally, Truist Financial lowered Primerica from a “buy” rating to a “hold” rating and reduced their price objective for the company from $370.00 to $320.00 in a report on Thursday, August 27th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $318.80.

View Our Latest Research Report on Primerica

Insider Transactions at Primerica

In related news, CEO Glenn Williams sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $320.20, for a total transaction of $480,300.00. Following the sale, the chief executive officer directly owned 32,196 shares in the company, valued at approximately $10,309,159.20. This represents a 4.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amber Cottle sold 279 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total transaction of $87,502.77. Following the completion of the transaction, the director directly owned 3,549 shares of the company’s stock, valued at approximately $1,113,072.87. This trade represents a 7.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,579 shares of company stock worth $1,130,573 over the last quarter. Corporate insiders own 0.63% of the company’s stock.

Primerica Company Profile

(Get Free Report)

Primerica, Inc is a financial services company that focuses on serving middle-income households in the United States and Canada, as well as families in Puerto Rico. The company distributes its products and services through a network of independent representatives who provide financial education and help clients address protection, savings and investment needs.

Primerica’s principal offerings include term life insurance, investment and savings products, retirement planning solutions, and strategies for managing debt.

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