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

Primerica, Inc. (NYSE:PRI) declared a quarterly dividend on Wednesday, August 5th. Investors of record on Friday, August 21st will be given 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 by an average of 0.2%per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Primerica has a dividend payout ratio of 21.1% meaning 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 Price Performance

PRI traded up $2.23 during trading hours on Thursday, reaching $322.81. The company’s stock had a trading volume of 119,819 shares, compared to its average volume of 204,915. The stock has a market cap of $10.07 billion, a PE ratio of 13.55 and a beta of 0.87. Primerica has a fifty-two week low of $230.09 and a fifty-two week high of $327.28. The business’s 50-day moving average is $293.31 and its 200-day moving average is $273.96.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.03 by $0.38. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The company had revenue of $865.07 million during the quarter, compared to analysts’ expectations of $881.00 million. During the same quarter last year, the firm earned $5.46 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. Analysts expect that Primerica will post 24.65 EPS for the current year.

Analysts Set New Price Targets

PRI has been the subject of a number of recent analyst reports. Jefferies Financial Group lifted their price target on shares of Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Weiss Ratings upgraded Primerica from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, July 24th. Keefe, Bruyette & Woods lifted their price target on shares of Primerica from $305.00 to $323.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. TD Cowen boosted their price target on shares of Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Finally, Morgan Stanley increased their price objective on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $308.67.

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.