Primerica, Inc. (NYSE:PRI) – SunTrust Banks boosted their Q1 2020 EPS estimates for shares of Primerica in a research report issued to clients and investors on Wednesday, February 12th. SunTrust Banks analyst M. Hughes now anticipates that the financial services provider will post earnings per share of $2.04 for the quarter, up from their previous estimate of $2.03. SunTrust Banks also issued estimates for Primerica’s Q2 2020 earnings at $2.50 EPS, Q3 2020 earnings at $2.51 EPS, Q4 2020 earnings at $2.50 EPS, FY2020 earnings at $9.55 EPS, Q1 2021 earnings at $2.24 EPS, Q2 2021 earnings at $2.73 EPS, Q3 2021 earnings at $2.75 EPS, Q4 2021 earnings at $2.73 EPS and FY2021 earnings at $10.45 EPS.
Several other analysts also recently weighed in on PRI. Zacks Investment Research downgraded Primerica from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. William Blair upgraded Primerica from a “market perform” rating to an “outperform” rating in a research report on Thursday. Finally, ValuEngine downgraded Primerica from a “hold” rating to a “sell” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. Primerica presently has a consensus rating of “Hold” and an average price target of $128.00.
Shares of NYSE:PRI opened at $136.84 on Friday. The business has a 50 day moving average price of $126.99 and a 200 day moving average price of $125.66. Primerica has a twelve month low of $108.75 and a twelve month high of $138.05. The company has a market cap of $5.66 billion, a price-to-earnings ratio of 16.33 and a beta of 1.34. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.03.
Primerica (NYSE:PRI) last announced its earnings results on Tuesday, February 11th. The financial services provider reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.11. Primerica had a return on equity of 22.88% and a net margin of 17.90%. The firm had revenue of $530.94 million during the quarter, compared to the consensus estimate of $526.19 million. During the same quarter in the prior year, the company earned $2.01 EPS.
Hedge funds have recently made changes to their positions in the business. Clear Harbor Asset Management LLC bought a new position in shares of Primerica during the 4th quarter worth approximately $46,000. Advisors Asset Management Inc. bought a new position in shares of Primerica during the 4th quarter worth approximately $48,000. NumerixS Investment Technologies Inc lifted its position in shares of Primerica by 66.7% during the 4th quarter. NumerixS Investment Technologies Inc now owns 500 shares of the financial services provider’s stock worth $65,000 after buying an additional 200 shares during the period. Point72 Asset Management L.P. lifted its position in shares of Primerica by 20.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 600 shares of the financial services provider’s stock worth $76,000 after buying an additional 100 shares during the period. Finally, CIBC Asset Management Inc bought a new position in shares of Primerica during the 3rd quarter worth approximately $201,000. Institutional investors own 88.92% of the company’s stock.
In other Primerica news, CFO Alison S. Rand sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $134.01, for a total value of $268,020.00. Following the completion of the sale, the chief financial officer now owns 15,337 shares in the company, valued at approximately $2,055,311.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Peter W. Schneider sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $133.84, for a total value of $401,520.00. Following the completion of the sale, the president now owns 26,790 shares of the company’s stock, valued at approximately $3,585,573.60. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by company insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, February 24th will be given a $0.40 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.17%. This is an increase from Primerica’s previous quarterly dividend of $0.34. Primerica’s dividend payout ratio (DPR) is currently 18.55%.
Primerica declared that its board has approved a stock buyback program on Tuesday, February 11th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the financial services provider to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Primerica, Inc, together with its subsidiaries, provides financial products to middle income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.
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