Primerica, Inc. Declares Quarterly Dividend of $1.04 (NYSE:PRI)

Primerica, Inc. (NYSE:PRI) announced a quarterly dividend on Wednesday, November 5th. Stockholders of record on Friday, November 21st will be given a dividend of 1.04 per share by the financial services provider on Monday, December 15th. This represents a c) annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, November 21st.

Primerica has raised its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 2 years. Primerica has a dividend payout ratio of 18.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Primerica to earn $22.65 per share next year, which means the company should continue to be able to cover its $4.16 annual dividend with an expected future payout ratio of 18.4%.

Primerica Trading Down 1.8%

NYSE:PRI opened at $255.80 on Thursday. Primerica has a 12 month low of $230.98 and a 12 month high of $307.91. The firm has a fifty day simple moving average of $269.46 and a 200-day simple moving average of $267.30. The company has a market capitalization of $8.29 billion, a P/E ratio of 12.64 and a beta of 0.96.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $6.33 EPS for the quarter, topping the consensus estimate of $5.52 by $0.81. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The business had revenue of $838.88 million during the quarter, compared to the consensus estimate of $817.81 million. During the same period in the previous year, the firm posted $4.83 earnings per share. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities analysts forecast that Primerica will post 20.6 EPS for the current year.

Insider Transactions at Primerica

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total transaction of $655,500.00. Following the transaction, the chief executive officer directly owned 36,392 shares of the company’s stock, valued at $9,541,982.40. This trade represents a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Primerica

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Root Financial Partners LLC acquired a new stake in shares of Primerica in the third quarter valued at about $27,000. Smartleaf Asset Management LLC raised its position in shares of Primerica by 186.5% in the third quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock valued at $29,000 after buying an additional 69 shares during the last quarter. Hilltop National Bank acquired a new stake in shares of Primerica in the second quarter valued at about $31,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Primerica in the second quarter valued at about $33,000. Finally, Quent Capital LLC acquired a new stake in shares of Primerica in the third quarter valued at about $33,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

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.