Wall Street brokerages expect Primerica, Inc. (NYSE:PRI) to report sales of $438.79 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Primerica’s earnings, with the lowest sales estimate coming in at $436.74 million and the highest estimate coming in at $440.83 million. Primerica posted sales of $393.86 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.4%. The firm is expected to issue its next earnings results after the market closes on Wednesday, February 7th.
According to Zacks, analysts expect that Primerica will report full-year sales of $438.79 million for the current fiscal year, with estimates ranging from $1.68 billion to $1.69 billion. For the next year, analysts forecast that the business will post sales of $1.84 billion per share, with estimates ranging from $1.81 billion to $1.86 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Primerica.
Primerica (NYSE:PRI) last released its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $1.46 EPS for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.09. Primerica had a net margin of 14.55% and a return on equity of 18.94%. The firm had revenue of $427.30 million during the quarter, compared to analysts’ expectations of $425.83 million. During the same period in the previous year, the business posted $1.22 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year.
A number of brokerages have recently issued reports on PRI. Zacks Investment Research raised shares of Primerica from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a research report on Wednesday, October 11th. Wells Fargo & Co reissued a “market perform” rating and issued a $100.00 target price (up previously from $95.00) on shares of Primerica in a research report on Tuesday, January 9th. ValuEngine raised shares of Primerica from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $95.00 target price on shares of Primerica in a research report on Friday, November 10th. Finally, SunTrust Banks cut 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. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Primerica presently has a consensus rating of “Hold” and a consensus price target of $95.80.
Primerica (NYSE PRI) opened at $105.95 on Tuesday. Primerica has a 52-week low of $70.00 and a 52-week high of $106.40. The company has a market cap of $4,690.00, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 1.61 and a beta of 1.24.
In other news, VP Gregory C. Pitts sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $92.40, for a total value of $462,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.86% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Mountain Capital Investment Advisors Inc acquired a new position in Primerica in the second quarter valued at about $125,000. Flinton Capital Management LLC raised its stake in Primerica by 69.5% in the second quarter. Flinton Capital Management LLC now owns 2,224 shares of the financial services provider’s stock valued at $169,000 after purchasing an additional 912 shares in the last quarter. Magnetar Financial LLC acquired a new position in Primerica in the third quarter valued at about $204,000. Riverhead Capital Management LLC raised its stake in Primerica by 68.7% in the second quarter. Riverhead Capital Management LLC now owns 2,530 shares of the financial services provider’s stock valued at $192,000 after purchasing an additional 1,030 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in Primerica in the third quarter valued at about $215,000. 95.99% of the stock is owned by institutional investors and hedge funds.
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Primerica Company Profile
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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