Primerica, Inc. (PRI) to Issue Quarterly Dividend of $0.75 on June 12th

Primerica, Inc. (NYSE:PRIGet Free Report) announced a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Shareholders of record on Tuesday, May 21st will be given 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 1.31%. The ex-dividend date is Monday, May 20th.

Primerica has increased its dividend payment by an average of 17.6% per year over the last three years and has raised its dividend annually for the last 15 consecutive years. Primerica has a dividend payout ratio of 15.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Primerica to earn $19.49 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 15.4%.

Primerica Stock Up 1.7 %

PRI stock opened at $228.16 on Friday. Primerica has a 52 week low of $179.15 and a 52 week high of $256.56. The company has a fifty day simple moving average of $232.69 and a two-hundred day simple moving average of $224.63. The firm has a market capitalization of $7.85 billion, a P/E ratio of 13.89 and a beta of 1.10.

Primerica (NYSE:PRIGet Free Report) last issued its quarterly earnings data on Monday, May 6th. The financial services provider reported $3.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 20.44% and a return on equity of 27.35%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $3.49 earnings per share. As a group, analysts anticipate that Primerica will post 17.57 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Morgan Stanley boosted their price objective on shares of Primerica from $245.00 to $250.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Truist Financial raised their price objective on shares of Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Raymond James downgraded Primerica from a “strong-buy” rating to a “market perform” rating in a report on Monday, February 12th. Finally, Keefe, Bruyette & Woods boosted their price objective on Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Primerica has an average rating of “Hold” and a consensus price target of $245.50.

Read Our Latest Analysis on PRI

Insider Activity at Primerica

In other Primerica news, COO Gregory C. Pitts sold 3,759 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $245.43, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $243.41, for a total value of $365,115.00. Following the completion of the sale, the president now owns 13,259 shares of the company’s stock, valued at approximately $3,227,373.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Gregory C. Pitts sold 3,759 shares of the firm’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 sale, the chief operating officer now directly owns 3,379 shares in the company, valued at approximately $829,307.97. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,708 shares of company stock worth $1,648,677. Company insiders own 0.85% of the company’s stock.

About Primerica

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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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Dividend History for Primerica (NYSE:PRI)

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