Primerica, Inc. Announces Quarterly Dividend of $0.75 (NYSE:PRI)

Primerica, Inc. (NYSE:PRI) declared a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Stockholders of record on Tuesday, May 21st will be paid a dividend of 0.75 per share by the financial services provider on Wednesday, June 12th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Monday, May 20th.

Primerica has raised its dividend by an average of 17.6% annually over the last three years and has increased its dividend every year for the last 15 years. Primerica has a dividend payout ratio of 15.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Primerica to earn $19.57 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 15.3%.

Primerica Stock Up 0.4 %

Shares of Primerica stock traded up $0.79 on Wednesday, hitting $220.00. The stock had a trading volume of 9,873 shares, compared to its average volume of 164,174. The stock’s 50-day simple moving average is $236.60 and its two-hundred day simple moving average is $223.48. Primerica has a one year low of $176.81 and a one year high of $256.56. The stock has a market cap of $7.63 billion, a price-to-earnings ratio of 13.86 and a beta of 1.10.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Monday, May 6th. The financial services provider reported $3.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.12 by ($0.21). The business had revenue of $742.83 million for the quarter, compared to analysts’ expectations of $740.57 million. Primerica had a net margin of 20.37% and a return on equity of 27.83%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.49 EPS. As a group, equities analysts predict that Primerica will post 17.78 EPS for the current fiscal year.

Insider Transactions at Primerica

In related news, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $243.41, for a total transaction of $365,115.00. Following the completion of the transaction, the president now owns 13,259 shares in the company, valued at $3,227,373.19. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director John A. Jr. Addison sold 1,215 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $249.00, for a total value of $302,535.00. Following the transaction, the director now owns 16,467 shares of the company’s stock, valued at approximately $4,100,283. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $243.41, for a total transaction of $365,115.00. Following the completion of the sale, the president now directly owns 13,259 shares of the company’s stock, valued at $3,227,373.19. The disclosure for this sale can be found here. Insiders have sold 6,708 shares of company stock valued at $1,648,677 over the last quarter. 0.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Truist Financial upped their target price on shares of Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Morgan Stanley boosted their price objective on shares of Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Raymond James cut shares of Primerica from a “strong-buy” rating to a “market perform” rating in a research note on Monday, February 12th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Primerica has an average rating of “Hold” and an average target price of $245.50.

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.