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

Primerica, Inc. (NYSE:PRI - Get Free Report) announced a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Shareholders 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 yield of 1.37%. The ex-dividend date is Monday, May 20th.

Primerica has increased its dividend payment 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% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 1.4 %

Shares of PRI traded down $3.21 during mid-day trading on Tuesday, hitting $219.34. The company's stock had a trading volume of 410,944 shares, compared to its average volume of 165,972. The firm has a 50-day simple moving average of $236.60 and a 200 day simple moving average of $223.48. The firm has a market capitalization of $7.61 billion, a P/E ratio of 13.81 and a beta of 1.10. Primerica has a 1-year low of $176.81 and a 1-year high of $256.56.

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

Wall Street Analysts Forecast Growth

PRI has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their target price on shares of Primerica from $255.00 to $260.00 and gave the company a "market perform" rating in a report on Wednesday, April 10th. Truist Financial lifted their price objective on Primerica from $260.00 to $275.00 and gave the stock a "buy" rating in a report on Thursday, February 15th. Raymond James lowered Primerica from a "strong-buy" rating to a "market perform" rating in a report on Monday, February 12th. 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 report on Monday, April 15th. Finally, StockNews.com upgraded shares of Primerica from a "hold" rating to a "buy" rating in a report on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Primerica presently has an average rating of "Hold" and an average price target of $245.50.

Insider Buying and Selling

In other Primerica news, COO Gregory C. Pitts sold 3,759 shares of the company's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $245.43, for a total value of $922,571.37. Following the transaction, the chief operating officer now directly owns 3,379 shares in the company, valued at approximately $829,307.97. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Primerica news, COO Gregory C. Pitts sold 3,759 shares of Primerica stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $245.43, for a total value of $922,571.37. Following the completion of the sale, the chief operating officer now directly owns 3,379 shares of the company's stock, valued at approximately $829,307.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total value of $58,455.54. Following the transaction, the insider now directly owns 100 shares in the company, valued at approximately $24,981. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,708 shares of company stock worth $1,648,677. 0.61% of the stock is owned by corporate insiders.

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.