Primerica, Inc. (PRI) To Go Ex-Dividend on August 21st

Primerica, Inc. (NYSE:PRI) declared a quarterly dividend on Wednesday, August 5th. Shareholders of record on Friday, August 21st will be given a dividend of 1.20 per share by the financial services provider on Monday, September 14th. This represents a c) annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, August 21st.

Primerica has increased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 2 years. Primerica has a payout ratio of 21.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Primerica to earn $26.85 per share next year, which means the company should continue to be able to cover its $4.80 annual dividend with an expected future payout ratio of 17.9%.

Primerica Price Performance

Primerica stock opened at $325.62 on Friday. Primerica has a 1 year low of $230.09 and a 1 year high of $327.28. The firm’s 50 day moving average price is $294.45 and its 200-day moving average price is $274.38. The stock has a market cap of $10.15 billion, a P/E ratio of 13.08 and a beta of 0.87.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share for the quarter, beating the consensus estimate of $6.03 by $0.38. The company had revenue of $865.07 million during the quarter, compared to analysts’ expectations of $881.00 million. Primerica had a net margin of 23.20% and a return on equity of 32.79%. Primerica’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the company posted $5.46 earnings per share. As a group, equities analysts expect that Primerica will post 24.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on PRI. Weiss Ratings upgraded Primerica from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, July 24th. Keefe, Bruyette & Woods upped their price objective on Primerica from $305.00 to $323.00 and gave the stock a “market perform” rating in a report on Monday, July 13th. Jefferies Financial Group boosted their target price on shares of Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Morgan Stanley upped their target price on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Finally, TD Cowen increased their price target on shares of Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $308.67.

About Primerica

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.