Life insurer Primerica Inc Projected its first-quarter outlook above Wall Street estimates and said Citigroup Inc plans to sell 12 million Primerica shares. On completion of the offering, Citi will own 20.6-23.1 percent of Primerica outstanding common stock, the company said in a filing with the U.S. Securities and Exchange Commission. The Citigroup spin-off, which targets lower- and middle-income households, sees first quarter earnings at $0.65-$0.72 per share on revenue of $266.0-$286.0 million. Analysts, on average, are expecting the company to earn 54 cents a share on revenue of $259.2 million, according to Thomson Reuters I/B/E/S.
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