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.
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.
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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