Primerica, Inc. (NYSE:PRI - Free Report) - Research analysts at William Blair upped their Q3 2024 earnings per share (EPS) estimates for shares of Primerica in a report issued on Thursday, August 8th. William Blair analyst J. Schmitt now expects that the financial services provider will post earnings of $4.80 per share for the quarter, up from their previous estimate of $4.68. The consensus estimate for Primerica's current full-year earnings is $17.73 per share. William Blair also issued estimates for Primerica's FY2024 earnings at $18.10 EPS, Q3 2025 earnings at $5.12 EPS and FY2025 earnings at $19.80 EPS.
Several other brokerages have also recently commented on PRI. Truist Financial boosted their price target on Primerica from $275.00 to $300.00 and gave the company a "buy" rating in a research note on Friday. Jefferies Financial Group upped their target price on Primerica from $239.00 to $249.00 and gave the stock a "hold" rating in a research report on Thursday, July 18th. Morgan Stanley decreased their target price on Primerica from $245.00 to $243.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 10th. StockNews.com lowered Primerica from a "buy" rating to a "hold" rating in a report on Tuesday, May 7th. Finally, Keefe, Bruyette & Woods upped their price target on Primerica from $255.00 to $275.00 and gave the stock a "market perform" rating in a report on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $266.75.
Get Our Latest Analysis on PRI
Primerica Stock Performance
Shares of NYSE PRI traded down $2.45 during trading hours on Monday, hitting $251.96. The stock had a trading volume of 74,369 shares, compared to its average volume of 165,232. The company has a market capitalization of $8.67 billion, a P/E ratio of 15.34 and a beta of 1.09. The firm's 50-day moving average price is $238.76 and its two-hundred day moving average price is $236.25. Primerica has a 52 week low of $184.76 and a 52 week high of $256.56.
Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, beating the consensus estimate of $4.47 by $0.24. The business had revenue of $803.38 million during the quarter, compared to analysts' expectations of $748.88 million. Primerica had a return on equity of 27.35% and a net margin of 20.44%. The firm's quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.99 EPS.
Primerica Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Wednesday, August 21st will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.43%. This is a positive change from Primerica's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Wednesday, August 21st. Primerica's dividend payout ratio is presently 21.91%.
Insider Activity at Primerica
In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $222.76, for a total value of $668,280.00. Following the sale, the chief executive officer now directly owns 48,322 shares in the company, valued at $10,764,208.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $222.76, for a total value of $668,280.00. Following the sale, the chief executive officer now directly owns 48,322 shares in the company, valued at $10,764,208.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Peter W. Schneider sold 1,500 shares of the company's stock in a transaction on Friday, May 24th. The shares were sold at an average price of $227.44, for a total value of $341,160.00. Following the completion of the sale, the president now owns 11,759 shares in the company, valued at $2,674,466.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,500 shares of company stock worth $1,767,090. 0.85% of the stock is owned by corporate insiders.
Institutional Trading of Primerica
Several large investors have recently made changes to their positions in PRI. ORG Partners LLC bought a new stake in shares of Primerica during the fourth quarter worth $26,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Primerica by 493.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider's stock worth $45,000 after purchasing an additional 148 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Primerica by 45.5% during the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider's stock worth $49,000 after purchasing an additional 60 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in Primerica in the second quarter valued at about $71,000. Finally, GAMMA Investing LLC bought a new position in Primerica in the fourth quarter valued at about $133,000. Institutional investors own 90.88% of the company's stock.
Primerica Company Profile
(Get Free Report)
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.
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