Q3 2018 EPS Estimates for Primerica, Inc. (PRI) Lifted by William Blair
Primerica, Inc. (NYSE:PRI) – Equities researchers at William Blair increased their Q3 2018 EPS estimates for Primerica in a research note issued on Wednesday. William Blair analyst A. Klauber now anticipates that the financial services provider will earn $1.64 per share for the quarter, up from their previous forecast of $1.63. William Blair also issued estimates for Primerica’s Q4 2018 earnings at $1.59 EPS and FY2019 earnings at $6.96 EPS.
A number of other equities analysts have also weighed in on PRI. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $95.00 target price on shares of Primerica in a research report on Friday. Wells Fargo & Company reissued a “hold” rating on shares of Primerica in a research report on Tuesday, August 8th. BidaskClub lowered Primerica from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 18th. Zacks Investment Research lowered shares of Primerica from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Finally, SunTrust Banks, Inc. lowered shares of Primerica from a “buy” rating to a “hold” rating in a research report on Thursday, October 19th. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $90.50.
Shares of Primerica (PRI) traded up $0.50 during trading hours on Monday, reaching $100.10. The company’s stock had a trading volume of 484,500 shares, compared to its average volume of 308,601. Primerica has a fifty-two week low of $67.40 and a fifty-two week high of $100.65. The stock has a market cap of $4,407.11, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18.
Primerica (NYSE:PRI) last issued its earnings results on Tuesday, November 7th. The financial services provider reported $1.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.09. Primerica had a return on equity of 18.94% and a net margin of 14.55%. The business had revenue of $427.30 million during the quarter, compared to analyst estimates of $425.83 million. During the same quarter in the previous year, the firm earned $1.22 EPS. Primerica’s revenue was up 11.4% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, November 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.80%. Primerica’s dividend payout ratio (DPR) is presently 15.56%.
In related news, President Peter W. Schneider sold 1,301 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $76.92, for a total transaction of $100,072.92. Following the completion of the transaction, the president now directly owns 28,138 shares in the company, valued at approximately $2,164,374.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Gregory C. Pitts sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $92.40, for a total value of $462,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,301 shares of company stock valued at $715,073. 0.86% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of PRI. Koch Industries Inc. bought a new position in Primerica in the 2nd quarter worth approximately $237,000. Macquarie Group Ltd. boosted its position in shares of Primerica by 25.2% during the 2nd quarter. Macquarie Group Ltd. now owns 585,073 shares of the financial services provider’s stock valued at $44,319,000 after acquiring an additional 117,739 shares during the last quarter. Voya Investment Management LLC boosted its position in shares of Primerica by 19.2% during the 2nd quarter. Voya Investment Management LLC now owns 548,220 shares of the financial services provider’s stock valued at $41,528,000 after acquiring an additional 88,376 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Primerica by 2.4% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,508,400 shares of the financial services provider’s stock valued at $286,111,000 after acquiring an additional 81,603 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Primerica by 8.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 927,674 shares of the financial services provider’s stock valued at $70,272,000 after acquiring an additional 69,063 shares during the last quarter. Institutional investors and hedge funds own 93.83% of the company’s stock.
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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