Primerica (NYSE:PRI – Get Free Report) announced its quarterly earnings results on Wednesday. The financial services provider reported $6.77 EPS for the quarter, beating the consensus estimate of $6.40 by $0.37, FiscalAI reports. The firm had revenue of $901.82 million for the quarter, compared to analyst estimates of $901.00 million. Primerica had a return on equity of 32.45% and a net margin of 23.20%. During the same quarter last year, the firm posted $6.33 earnings per share.
Primerica Stock Performance
Primerica stock traded up $4.21 during mid-day trading on Wednesday, reaching $284.44. 259,629 shares of the company were exchanged, compared to its average volume of 181,262. The firm has a market cap of $8.76 billion, a P/E ratio of 11.29 and a beta of 0.86. The business has a fifty day moving average of $283.25 and a 200 day moving average of $278.77. Primerica has a 12-month low of $230.09 and a 12-month high of $327.28.
Insider Activity
In other news, Director Amber Cottle sold 279 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total value of $87,502.77. Following the completion of the transaction, the director directly owned 3,549 shares of the company’s stock, valued at approximately $1,113,072.87. The trade was a 7.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $312.65, for a total value of $562,770.00. Following the sale, the president owned 8,011 shares of the company’s stock, valued at $2,504,639.15. This trade represents a 18.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 3,579 shares of company stock worth $1,130,573. 0.63% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the company. Jefferies Financial Group lifted their price objective on Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a report on Friday, July 10th. TD Cowen increased their target price on shares of Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods dropped their target price on shares of Primerica from $335.00 to $330.00 and set a “market perform” rating on the stock in a report on Friday, October 9th. Morgan Stanley raised their target price on shares of Primerica from $291.00 to $316.00 and gave the company an “equal weight” rating in a research report on Monday, August 24th. Finally, Weiss Ratings lowered shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $318.80.
Read Our Latest Stock Analysis on Primerica
About Primerica
Primerica, Inc is a financial services company that focuses on serving middle-income households in the United States and Canada, as well as families in Puerto Rico. The company distributes its products and services through a network of independent representatives who provide financial education and help clients address protection, savings and investment needs.
Primerica’s principal offerings include term life insurance, investment and savings products, retirement planning solutions, and strategies for managing debt.
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