Primerica (NYSE:PRI) Announces Quarterly Earnings Results

Primerica (NYSE:PRI) released its quarterly earnings data on Wednesday. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.03 by $0.38, Zacks reports. Primerica had a net margin of 22.99% and a return on equity of 32.32%. During the same period last year, the company earned $5.46 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year.

Primerica Stock Performance

Shares of Primerica stock traded up $1.85 on Wednesday, reaching $320.00. 172,297 shares of the company were exchanged, compared to its average volume of 173,123. The company’s 50-day moving average is $293.31 and its two-hundred day moving average is $273.96. The firm has a market cap of $9.98 billion, a price-to-earnings ratio of 13.42 and a beta of 0.87. Primerica has a 1-year low of $230.09 and a 1-year high of $326.78.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 1,500 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $280.49, for a total value of $420,735.00. Following the sale, the chief executive officer directly owned 33,696 shares in the company, valued at approximately $9,451,391.04. This trade represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $279.64, for a total transaction of $503,352.00. Following the transaction, the president directly owned 9,811 shares of the company’s stock, valued at approximately $2,743,548.04. This trade represents a 15.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On Primerica

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tannin Capital LLC acquired a new position in shares of Primerica during the fourth quarter valued at $247,000. nVerses Capital LLC acquired a new stake in Primerica in the fourth quarter worth about $246,000. US Bancorp DE raised its position in shares of Primerica by 15.1% during the 3rd quarter. US Bancorp DE now owns 741 shares of the financial services provider’s stock worth $206,000 after buying an additional 97 shares in the last quarter. Principal Securities Inc. raised its position in shares of Primerica by 285.8% during the 4th quarter. Principal Securities Inc. now owns 787 shares of the financial services provider’s stock worth $203,000 after buying an additional 583 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of Primerica by 291.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 603 shares of the financial services provider’s stock worth $167,000 after acquiring an additional 449 shares during the period. 90.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Morgan Stanley upped their price target on Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Weiss Ratings upgraded Primerica from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, July 24th. Keefe, Bruyette & Woods upped their target price on Primerica from $305.00 to $323.00 and gave the company a “market perform” rating in a research report on Monday, July 13th. TD Cowen increased their target price on Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Finally, Jefferies Financial Group upped their price target on shares of Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a report on Friday, July 10th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $308.67.

Primerica Company Profile

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.