Primerica, Inc. (NYSE:PRI) Plans $1.04 Quarterly Dividend

Key Points

• Primerica, Inc. declared a quarterly dividend of $1.04 per share, with an ex-dividend date of August 22nd and payment scheduled for September 15th.
• The company has a strong dividend payout ratio of 18.2%, suggesting its dividends are well-supported by earnings as it projects earnings of $22.65 per share next year.
• Primerica's recent earnings report showed an EPS of $5.46, surpassing estimates and indicating a year-over-year revenue growth of 0.3%.

Primerica, Inc. (NYSE:PRI - Get Free Report) announced a quarterly dividend on Thursday, August 7th, Wall Street Journal reports. Shareholders of record on Friday, August 22nd will be paid a dividend of 1.04 per share by the financial services provider on Monday, September 15th. This represents a c) dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 22nd.

Primerica has a dividend payout ratio of 18.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Primerica to earn $22.65 per share next year, which means the company should continue to be able to cover its $4.16 annual dividend with an expected future payout ratio of 18.4%.

Primerica Price Performance

PRI stock traded down $10.82 during mid-day trading on Thursday, reaching $256.34. 254,369 shares of the company traded hands, compared to its average volume of 171,713. The company has a fifty day moving average price of $266.31 and a 200-day moving average price of $272.69. Primerica has a 52-week low of $230.98 and a 52-week high of $307.91. The company has a market capitalization of $8.48 billion, a P/E ratio of 17.24 and a beta of 0.99.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.46 EPS for the quarter, beating analysts' consensus estimates of $5.18 by $0.28. The firm had revenue of $796.02 million during the quarter, compared to analyst estimates of $790.99 million. Primerica had a net margin of 15.82% and a return on equity of 32.30%. The business's revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the business earned $4.71 EPS. As a group, analysts forecast that Primerica will post 20.6 EPS for the current year.

Analyst Upgrades and Downgrades

PRI has been the topic of a number of research reports. Morgan Stanley raised their price target on Primerica from $274.00 to $296.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Keefe, Bruyette & Woods reduced their price target on Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research report on Wednesday, April 9th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Primerica has a consensus rating of "Hold" and an average price target of $317.83.

About Primerica

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.

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