Q3 2024 EPS Estimates for Primerica, Inc. Lifted by William Blair (NYSE:PRI)

Primerica, Inc. (NYSE:PRI) – William Blair lifted their Q3 2024 EPS estimates for Primerica in a research report issued to clients and investors on Thursday, August 8th. William Blair analyst J. Schmitt now anticipates that the financial services provider will earn $4.80 per share for the quarter, up from their previous estimate of $4.68. The consensus estimate for Primerica’s current full-year earnings is $17.73 per share. William Blair also issued estimates for Primerica’s FY2024 earnings at $18.10 EPS, Q3 2025 earnings at $5.12 EPS and FY2025 earnings at $19.80 EPS.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.24. Primerica had a return on equity of 27.35% and a net margin of 20.44%. The company had revenue of $803.38 million during the quarter, compared to the consensus estimate of $748.88 million. During the same quarter last year, the business posted $3.99 earnings per share. Primerica’s revenue was up 16.7% compared to the same quarter last year.

PRI has been the topic of several other research reports. Morgan Stanley reduced their price objective on shares of Primerica from $245.00 to $243.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Jefferies Financial Group raised their price objective on Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Truist Financial raised their price target on Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $266.75.

Primerica Price Performance

Primerica stock opened at $253.23 on Monday. The firm’s 50-day moving average is $239.89 and its two-hundred day moving average is $236.63. The stock has a market capitalization of $8.71 billion, a P/E ratio of 15.41 and a beta of 1.09. Primerica has a 12-month low of $184.76 and a 12-month high of $256.56.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.42%. This is a boost from Primerica’s previous quarterly dividend of $0.75. Primerica’s payout ratio is presently 21.91%.

Insiders Place Their Bets

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $222.76, for a total value of $668,280.00. Following the transaction, the chief executive officer now directly owns 48,322 shares of the company’s stock, valued at $10,764,208.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $222.76, for a total value of $668,280.00. Following the completion of the transaction, the chief executive officer now owns 48,322 shares in the company, valued at approximately $10,764,208.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $227.44, for a total transaction of $341,160.00. Following the sale, the president now owns 11,759 shares in the company, valued at approximately $2,674,466.96. The disclosure for this sale can be found here. Insiders sold a total of 7,500 shares of company stock worth $1,767,090 over the last ninety days. 0.85% of the stock is owned by company insiders.

Hedge Funds Weigh In On Primerica

A number of institutional investors have recently added to or reduced their stakes in PRI. Van ECK Associates Corp lifted its stake in shares of Primerica by 36.5% in the first quarter. Van ECK Associates Corp now owns 12,506 shares of the financial services provider’s stock worth $3,164,000 after acquiring an additional 3,345 shares in the last quarter. Blair William & Co. IL increased its stake in shares of Primerica by 24.5% in the first quarter. Blair William & Co. IL now owns 12,159 shares of the financial services provider’s stock worth $3,076,000 after buying an additional 2,393 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in Primerica by 456.8% in the second quarter. Harbor Capital Advisors Inc. now owns 9,149 shares of the financial services provider’s stock valued at $2,164,000 after acquiring an additional 7,506 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Primerica by 136.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,322 shares of the financial services provider’s stock valued at $1,599,000 after acquiring an additional 3,649 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in Primerica during the 4th quarter valued at $2,016,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

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.