Primerica (NYSE:PRI) Issues Quarterly Earnings Results

Primerica (NYSE:PRI - Get Free Report) announced its earnings results on Monday. The financial services provider reported $3.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.12 by ($0.21), Briefing.com reports. Primerica had a net margin of 20.37% and a return on equity of 27.83%. The firm had revenue of $742.83 million during the quarter, compared to analyst estimates of $740.57 million. During the same period in the prior year, the business posted $3.49 EPS. The firm's quarterly revenue was up 7.7% compared to the same quarter last year.

Primerica Stock Performance

NYSE:PRI traded up $4.76 during mid-day trading on Monday, hitting $222.75. 227,998 shares of the stock were exchanged, compared to its average volume of 163,156. The firm's 50-day simple moving average is $237.10 and its 200 day simple moving average is $223.33. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of 14.03 and a beta of 1.10. Primerica has a fifty-two week low of $176.81 and a fifty-two week high of $256.56.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Wednesday, February 21st were given a $0.75 dividend. This is an increase from Primerica's previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $3.00 annualized dividend and a dividend yield of 1.35%. Primerica's dividend payout ratio is presently 18.89%.

Insider Buying and Selling at Primerica

In other news, COO Gregory C. Pitts sold 3,759 shares of Primerica stock in a transaction on Monday, March 11th. The stock was sold at an average price of $245.43, for a total transaction of $922,571.37. Following the completion of the sale, the chief operating officer now owns 3,379 shares of the company's stock, valued at $829,307.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Gregory C. Pitts sold 3,759 shares of Primerica stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $245.43, for a total value of $922,571.37. Following the completion of the sale, the chief operating officer now directly owns 3,379 shares in the company, valued at $829,307.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $249.81, for a total value of $58,455.54. Following the completion of the transaction, the insider now directly owns 100 shares of the company's stock, valued at $24,981. The disclosure for this sale can be found here. Insiders have sold a total of 6,708 shares of company stock valued at $1,648,677 in the last ninety days. 0.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PRI has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lifted their target price on Primerica from $255.00 to $260.00 and gave the company a "market perform" rating in a research report on Wednesday, April 10th. Truist Financial upped their price objective on Primerica from $260.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, February 15th. StockNews.com raised shares of Primerica from a "hold" rating to a "buy" rating in a research note on Thursday, March 7th. Morgan Stanley boosted their target price on shares of Primerica from $245.00 to $250.00 and gave the stock an "equal weight" rating in a report on Monday, April 15th. Finally, Raymond James cut shares of Primerica from a "strong-buy" rating to a "market perform" rating in a research note on Monday, February 12th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $245.50.

About Primerica

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.