Primerica (NYSE:PRI) Posts Quarterly Earnings Results

Primerica (NYSE:PRI) posted its quarterly earnings results on Tuesday. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.81 by $0.22, Zacks reports. Primerica had a return on equity of 30.93% and a net margin of 14.95%.

Primerica Stock Down 0.8 %

PRI stock opened at $290.74 on Wednesday. Primerica has a 52 week low of $184.76 and a 52 week high of $307.91. The firm has a 50 day moving average of $283.22 and a 200 day moving average of $275.15. The stock has a market capitalization of $9.70 billion, a PE ratio of 22.21 and a beta of 1.11.

Primerica declared that its Board of Directors has approved a stock buyback plan on Thursday, November 14th that authorizes the company to repurchase $450.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PRI. Truist Financial upped their price objective on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. BMO Capital Markets started coverage on shares of Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective for the company. TD Cowen lifted their price target on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods decreased their price objective on Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research note on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $304.14.

Primerica Company Profile

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.