Primerica (NYSE:PRI) Announces Earnings Results, Beats Expectations By $0.22 EPS

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

Primerica Price Performance

Primerica stock traded down $2.85 during trading hours on Friday, reaching $281.29. The stock had a trading volume of 134,291 shares, compared to its average volume of 141,950. The company has a market cap of $9.39 billion, a price-to-earnings ratio of 21.49 and a beta of 1.11. The business's 50 day moving average price is $282.45 and its 200-day moving average price is $275.52. Primerica has a 52 week low of $184.76 and a 52 week high of $307.91.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 21st will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.48%. The ex-dividend date is Friday, February 21st. This is a boost from Primerica's previous quarterly dividend of $0.90. Primerica's dividend payout ratio (DPR) is 30.25%.

Primerica declared that its Board of Directors has approved a share buyback program on Thursday, November 14th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

PRI has been the subject of a number of research analyst reports. Truist Financial raised their price target on Primerica from $300.00 to $340.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. TD Cowen upped their price target on shares of Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Piper Sandler cut their price target on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a report on Wednesday, December 18th. BMO Capital Markets initiated coverage on shares of Primerica in a report on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 price target on the stock. Finally, Morgan Stanley upped their price target on shares of Primerica from $308.00 to $313.00 and gave the stock an "equal weight" rating in a report on Friday. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Primerica currently has an average rating of "Hold" and an average price target of $310.43.

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.