Primerica (PRI) Releases Earnings Results, Beats Expectations By $0.17 EPS

Primerica (PRI) reported quarterly earnings results on Monday, Aug-8-2016. The company said it had a profit of $1.23 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.17. Analysts had a consensus of $1.06. The company posted revenue of $379.24 million in the period, compared to analysts expectations of $370.76 million. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS.

Many Wall Street Analysts have commented on Primerica. Primerica was Downgraded by Keefe Bruyette to ” Mkt Perform” on Jul 12, 2016.

Primerica opened for trading at $51.11 and hit $52.48 on the upside on Friday, eventually ending the session at $52.31, with a gain of 3.65% or 1.84 points. The heightened volatility saw the trading volume jump to 4,82,487 shares. Company has a market cap of $2,461 M.

In a different news, on Aug 3, 2016, Michael C. Adams (Executive Vice President) sold 2,500 shares at $51.99 per share price. According to the SEC, on Jul 27, 2016, William A. Kelly (President of Subsidiary) sold 1,500 shares at $52.93 per share price. On Jun 8, 2016, Gregory C. Pitts (Executive VP and COO) sold 2,500 shares at $58.07 per share price, according to the Form-4 filing with the securities and exchange commission.

Primerica Inc. is a distributor of financial products and focuses on term life insurance which it underwrites and mutual funds annuities and other financial products which it distributes primarily on behalf of third parties. The Company operates through the Term Life Insurance Investment and Savings Products as well as Corporate and Other Distributed Products operating segments to organize evaluate and manage its business. 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. The Investment and Savings Products segment includes mutual funds managed investments and annuities distributed through licensed broker-dealer subsidiaries and includes segregated funds. The Company also has a Corporate and Other Distributed Products segment which consists primarily of revenues and expenses related to the distribution of non-core products.


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