Primerica, Inc. Announces Quarterly Dividend of $1.20 (NYSE:PRI)

Key Points

• Primerica declared a quarterly dividend of $1.20 per share, payable September 14 to shareholders of record on August 21. The dividend implies an annualized payout of $4.80 and a 1.5% yield.
• The dividend appears well covered, with a current payout ratio of 21.1%; analysts expect that ratio to fall to 17.9% based on projected next-year earnings.
• Primerica reported quarterly EPS of $6.41, exceeding estimates of $6.03, while revenue rose 9% year over year to $865.07 million. Its shares recently traded at $322.81, near the 12-month high of $327.28.

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

Primerica has raised its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Primerica has a dividend payout ratio of 21.1% indicating that its dividend is sufficiently covered by earnings. Research 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 Trading Up 0.7%

PRI stock traded up $2.23 on Thursday, hitting $322.81. The company had a trading volume of 119,819 shares, compared to its average volume of 204,915. Primerica has a 12-month low of $230.09 and a 12-month high of $327.28. The stock's 50-day simple moving average is $293.31 and its 200 day simple moving average is $273.96. The stock has a market cap of $10.07 billion, a price-to-earnings ratio of 13.55 and a beta of 0.87.

Primerica (NYSE:PRI - Get Free Report) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, topping analysts' consensus estimates of $6.03 by $0.38. The business had revenue of $865.07 million during the quarter, compared to the consensus estimate of $881.00 million. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The firm's revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.46 EPS. Research analysts forecast that Primerica will post 24.65 earnings per share for the current year.

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.

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