Primerica, Inc. (NYSE:PRI) to Issue Quarterly Dividend of $0.90

Primerica, Inc. (NYSE:PRI) declared a quarterly dividend on Wednesday, August 7th, RTT News reports. Stockholders of record on Wednesday, August 21st will be given a dividend of 0.90 per share by the financial services provider on Thursday, September 12th. This represents a $3.60 annualized dividend and a dividend yield of 1.47%. This is an increase from Primerica’s previous quarterly dividend of $0.75.

Primerica has raised its dividend by an average of 17.6% per year over the last three years and has increased its dividend every year for the last 15 years. Primerica has a dividend payout ratio of 15.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Primerica to earn $19.69 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 15.2%.

Primerica Stock Up 0.4 %

Shares of NYSE PRI opened at $244.40 on Thursday. The firm has a market cap of $8.41 billion, a price-to-earnings ratio of 14.81 and a beta of 1.09. Primerica has a 52-week low of $184.76 and a 52-week high of $256.56. The business’s 50 day moving average is $237.27 and its two-hundred day moving average is $235.79.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.47 by $0.24. The company had revenue of $803.38 million during the quarter, compared to analysts’ expectations of $748.88 million. Primerica had a return on equity of 27.35% and a net margin of 20.44%. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period last year, the firm earned $3.99 EPS. Analysts anticipate that Primerica will post 17.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PRI shares. Jefferies Financial Group boosted their target price on Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Morgan Stanley lowered their price objective on Primerica from $245.00 to $243.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $260.50.

Insider Activity at Primerica

In other news, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $227.44, for a total value of $341,160.00. Following the sale, the president now directly owns 11,759 shares in the company, valued at approximately $2,674,466.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $222.76, for a total value of $668,280.00. Following the transaction, the chief executive officer now directly owns 48,322 shares in the company, valued at $10,764,208.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $227.44, for a total value of $341,160.00. Following the completion of the transaction, the president now owns 11,759 shares in the company, valued at $2,674,466.96. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.

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.