Primerica, Inc. (PRI) To Go Ex-Dividend on August 20th

Primerica, Inc. (NYSE:PRI) announced a quarterly dividend on Wednesday, August 7th, NASDAQ reports. Investors of record on Wednesday, August 21st will be paid a dividend of 0.34 per share by the financial services provider on Friday, September 13th. This represents a $1.36 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Tuesday, August 20th.

Primerica has raised its dividend payment by an average of 16.0% per year over the last three years and has raised its dividend annually for the last 8 consecutive years. Primerica has a payout ratio of 18.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Primerica to earn $9.16 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 14.8%.

Shares of PRI opened at $115.57 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.57 and a current ratio of 0.55. Primerica has a one year low of $90.28 and a one year high of $132.17. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 14.14 and a beta of 1.39. The stock has a 50 day moving average price of $120.40 and a 200 day moving average price of $122.01.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $2.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.14 by $0.07. Primerica had a return on equity of 22.77% and a net margin of 17.66%. The firm had revenue of $504.90 million during the quarter, compared to analysts’ expectations of $503.84 million. During the same period in the previous year, the business earned $1.93 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts predict that Primerica will post 8.2 earnings per share for the current year.

In other Primerica news, CFO Alison S. Rand sold 2,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $119.69, for a total value of $239,380.00. Following the completion of the sale, the chief financial officer now directly owns 19,337 shares in the company, valued at approximately $2,314,445.53. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $110.83, for a total value of $332,490.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,000 shares of company stock valued at $801,910. 0.84% of the stock is owned by company insiders.

Several analysts have issued reports on PRI shares. Zacks Investment Research upgraded Primerica from a “hold” rating to a “buy” rating and set a $128.00 target price for the company in a report on Tuesday, August 13th. Citigroup set a $108.00 target price on Primerica and gave the company a “sell” rating in a report on Thursday, May 23rd.

About Primerica

Primerica, Inc, together with its subsidiaries, provides financial products to middle income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. It underwrites individual term life insurance products.

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Dividend History for Primerica (NYSE:PRI)

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