Zacks: Analysts Expect Primerica, Inc. (NYSE:PRI) Will Announce Quarterly Sales of $617.60 Million

Wall Street analysts forecast that Primerica, Inc. (NYSE:PRI) will post $617.60 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Primerica’s earnings. The lowest sales estimate is $610.23 million and the highest is $624.98 million. Primerica reported sales of $521.81 million during the same quarter last year, which indicates a positive year over year growth rate of 18.4%. The company is expected to announce its next quarterly earnings report on Wednesday, August 4th.

According to Zacks, analysts expect that Primerica will report full-year sales of $2.54 billion for the current fiscal year, with estimates ranging from $2.53 billion to $2.55 billion. For the next year, analysts forecast that the firm will post sales of $2.69 billion, with estimates ranging from $2.55 billion to $2.76 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Primerica.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, May 5th. The financial services provider reported $2.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.38 by $0.06. The firm had revenue of $636.74 million during the quarter, compared to the consensus estimate of $610.81 million. Primerica had a net margin of 17.66% and a return on equity of 22.82%.

Several brokerages have issued reports on PRI. Truist increased their price objective on shares of Primerica from $165.00 to $188.00 in a research report on Tuesday, April 20th. Citigroup increased their price objective on shares of Primerica from $130.00 to $140.00 in a research report on Wednesday, March 31st. Truist Securities increased their target price on Primerica from $165.00 to $188.00 and gave the company a “buy” rating in a research note on Tuesday, April 20th. Morgan Stanley increased their target price on Primerica from $165.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, May 7th. Finally, increased their target price on Primerica from $140.00 to $144.00 and gave the company a “sell” rating in a research note on Monday, June 21st.

PRI traded down $1.28 on Friday, reaching $145.41. 384 shares of the company’s stock were exchanged, compared to its average volume of 160,393. The company’s 50 day simple moving average is $154.50. The company has a market capitalization of $5.73 billion, a P/E ratio of 14.02 and a beta of 1.44. Primerica has a twelve month low of $107.63 and a twelve month high of $165.35.

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 14th. Investors of record on Friday, May 21st were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, May 20th. Primerica’s dividend payout ratio (DPR) is presently 19.38%.

In other Primerica news, COO Gregory C. Pitts sold 8,000 shares of the stock in a transaction on Monday, May 10th. The stock was sold at an average price of $162.98, for a total value of $1,303,840.00. Following the sale, the chief operating officer now directly owns 10,767 shares of the company’s stock, valued at $1,754,805.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Friday, May 14th. The stock was sold at an average price of $160.90, for a total value of $482,700.00. Following the completion of the sale, the chief executive officer now directly owns 71,801 shares in the company, valued at $11,552,780.90. The disclosure for this sale can be found here. Insiders sold 22,655 shares of company stock worth $3,658,622 over the last ninety days. 0.90% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Hudson Bay Capital Management LP increased its holdings in shares of Primerica by 57.1% during the fourth quarter. Hudson Bay Capital Management LP now owns 55,000 shares of the financial services provider’s stock valued at $7,366,000 after purchasing an additional 20,000 shares during the period. NewEdge Wealth LLC grew its holdings in Primerica by 51.2% during the first quarter. NewEdge Wealth LLC now owns 12,084 shares of the financial services provider’s stock worth $1,786,000 after acquiring an additional 4,090 shares during the period. Granite Investment Partners LLC grew its holdings in Primerica by 2.6% during the first quarter. Granite Investment Partners LLC now owns 21,059 shares of the financial services provider’s stock worth $3,113,000 after acquiring an additional 529 shares during the period. WBI Investments acquired a new position in Primerica during the first quarter worth about $3,280,000. Finally, Schroder Investment Management Group grew its holdings in Primerica by 13.9% during the fourth quarter. Schroder Investment Management Group now owns 57,701 shares of the financial services provider’s stock worth $7,728,000 after acquiring an additional 7,055 shares during the period. 89.36% of the stock is currently owned by institutional investors.

Primerica Company Profile

Primerica, Inc, together with its subsidiaries, provides financial products to middle-income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.

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Earnings History and Estimates for Primerica (NYSE:PRI)

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