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

Key Points

• Primerica declared a quarterly dividend of $1.20 per share, payable June 12 to shareholders of record May 21, implying a $4.80 annual dividend and a yield of about 1.7%.
• The company beat expectations with EPS of $5.96 (vs. $5.45 est.) and revenue of $872.3M (up 8.6% YoY), and its dividend is well covered with a current payout ratio around 21.1% and a forecasted payout ratio near 18.4%.
• Corporate insiders (including the CEO and President) sold shares recently, while institutional investors own roughly 90.9% of the stock and insiders hold about 0.63%.

Primerica, Inc. (NYSE:PRI - Get Free Report) announced a quarterly dividend on Wednesday, May 6th. Shareholders of record on Thursday, May 21st will be given a dividend of 1.20 per share by the financial services provider on Friday, June 12th. This represents a c) dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, May 21st.

Primerica has raised its dividend by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 2 years. Primerica has a payout ratio of 21.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Primerica to earn $26.11 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 18.4%.

Primerica Trading Up 1.7%

Shares of Primerica stock opened at $281.64 on Thursday. Primerica has a 52 week low of $230.09 and a 52 week high of $288.03. The stock has a market cap of $8.92 billion, a PE ratio of 12.04 and a beta of 0.91. The company's 50-day moving average price is $261.27 and its two-hundred day moving average price is $260.24.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.45 by $0.51. The company had revenue of $872.30 million for the quarter, compared to analysts' expectations of $855.36 million. Primerica had a net margin of 22.82% and a return on equity of 32.30%. The business's revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.02 EPS. On average, equities analysts predict that Primerica will post 23.84 EPS for the current fiscal year.

Insider Activity at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of the business's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total transaction of $641,025.00. Following the transaction, the chief executive officer owned 27,392 shares in the company, valued at approximately $7,023,582.72. The trade was a 8.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $252.38, for a total value of $454,284.00. Following the sale, the president directly owned 11,611 shares in the company, valued at approximately $2,930,384.18. This trade represents a 13.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.63% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Root Financial Partners LLC bought a new stake in Primerica in the 3rd quarter valued at $27,000. Smartleaf Asset Management LLC boosted its position in shares of Primerica by 186.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 69 shares in the last quarter. SJS Investment Consulting Inc. boosted its position in shares of Primerica by 176.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 74 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Primerica in the fourth quarter valued at about $30,000. Finally, Quent Capital LLC bought a new stake in Primerica in the third quarter valued at about $33,000. 90.88% of the stock is owned by institutional investors.

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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