UPDATE 1-Primerica expects Q1 above Street

* Sees Q1 EPS $0.65-$0.72 vs est $0.54

* Sees Q1 rev $266-$286 mln vs est $259.2 mln

* Citi to sell 12 mln Primerica shares

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April 12 (Reuters) – 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.

During the first quarter, the former Citi life insurance
unit issued more than 51,000 term life insurance policies. It
had investment and savings product sales of about $1.1 billion.

Shares of the company closed at $24.03 Monday on the New
York Stock Exchange.
(Reporting by Rachel Chitra in Bangalore; Editing by Joyjeet
Das)

UPDATE 1-Primerica expects Q1 above Street