Q1 2018 EPS Estimates for Primerica, Inc. Lifted by SunTrust Banks (PRI)
Primerica, Inc. (NYSE:PRI) – Analysts at SunTrust Banks upped their Q1 2018 earnings estimates for shares of Primerica in a research note issued on Thursday. SunTrust Banks analyst M. Hughes now forecasts that the financial services provider will post earnings of $1.28 per share for the quarter, up from their previous forecast of $1.26. SunTrust Banks currently has a “Hold” rating on the stock. SunTrust Banks also issued estimates for Primerica’s Q2 2018 earnings at $1.46 EPS.
Primerica (NYSE:PRI) last announced its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $1.36 EPS for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.01. Primerica had a return on equity of 18.48% and a net margin of 14.41%. The firm had revenue of $413.70 million during the quarter, compared to analyst estimates of $410.97 million. During the same period last year, the company posted $1.23 EPS. The business’s quarterly revenue was up 9.2% compared to the same quarter last year.
Other equities research analysts also recently issued reports about the company. BidaskClub upgraded Primerica from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Wells Fargo & Company restated a “hold” rating on shares of Primerica in a report on Tuesday, August 8th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $87.00 price target on shares of Primerica in a report on Monday, October 16th. Finally, Zacks Investment Research downgraded Primerica from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $88.50.
Shares of Primerica (NYSE:PRI) opened at 85.95 on Monday. Primerica has a 12 month low of $52.75 and a 12 month high of $89.60. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 17.51 and a beta of 1.17. The firm’s 50-day moving average price is $80.60 and its 200-day moving average price is $79.05.
Several hedge funds have recently bought and sold shares of the company. APG Asset Management N.V. acquired a new position in shares of Primerica during the third quarter worth about $2,585,000. Oakbrook Investments LLC acquired a new position in shares of Primerica during the third quarter worth about $245,000. Shell Asset Management Co. boosted its position in shares of Primerica by 188.5% during the third quarter. Shell Asset Management Co. now owns 55,222 shares of the financial services provider’s stock worth $2,663,000 after buying an additional 36,080 shares during the period. Phocas Financial Corp. boosted its position in shares of Primerica by 4.7% during the second quarter. Phocas Financial Corp. now owns 92,696 shares of the financial services provider’s stock worth $7,022,000 after buying an additional 4,138 shares during the period. Finally, Mountain Capital Investment Advisors Inc acquired a new position in shares of Primerica during the second quarter worth about $125,000. 94.82% of the stock is owned by institutional investors.
In other news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $80.68, for a total transaction of $242,040.00. Following the completion of the transaction, the chief executive officer now directly owns 77,895 shares of the company’s stock, valued at $6,284,568.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Alison S. Rand sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $76.50, for a total value of $153,000.00. Following the transaction, the vice president now directly owns 35,385 shares of the company’s stock, valued at $2,706,952.50. The disclosure for this sale can be found here. Insiders sold 6,301 shares of company stock valued at $495,113 over the last 90 days. Corporate insiders own 0.86% of the company’s stock.
Primerica Company Profile
Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance company subsidiaries.
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