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

Primerica, Inc. (NYSE:PRI) declared a quarterly dividend on Wednesday, February 11th. Stockholders of record on Monday, February 23rd will be paid a dividend of 1.20 per share by the financial services provider on Friday, March 13th. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, February 23rd. This is a 15.4% increase from Primerica’s previous quarterly dividend of $1.04.

Primerica has raised its dividend payment by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Primerica has a payout ratio of 18.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Down 4.2%

PRI opened at $253.76 on Thursday. Primerica has a 52 week low of $230.98 and a 52 week high of $296.00. The stock has a market cap of $8.10 billion, a PE ratio of 11.66 and a beta of 0.91. The business has a 50 day moving average of $260.87 and a 200-day moving average of $263.80.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.69 by $0.44. The business had revenue of $853.51 million during the quarter, compared to the consensus estimate of $839.65 million. Primerica had a return on equity of 31.75% and a net margin of 22.36%.The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.03 earnings per share. Equities analysts anticipate that Primerica will post 20.6 EPS for the current year.

Insider Activity

In related news, President Peter W. Schneider sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $255.30, for a total transaction of $510,600.00. Following the completion of the sale, the president owned 7,301 shares of the company’s stock, valued at $1,863,945.30. This trade represents a 21.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joel M. Babbit sold 700 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $255.00, for a total transaction of $178,500.00. Following the completion of the transaction, the director owned 8,400 shares of the company’s stock, valued at approximately $2,142,000. The trade was a 7.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.61% of the stock is currently owned by insiders.

Institutional Trading of Primerica

A number of institutional investors and hedge funds have recently modified their holdings of PRI. Root Financial Partners LLC purchased a new position in shares of Primerica in the third quarter worth $27,000. Smartleaf Asset Management LLC increased its holdings in Primerica by 186.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock worth $29,000 after buying an additional 69 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Primerica in the 4th quarter worth about $30,000. Cullen Frost Bankers Inc. purchased a new position in Primerica in the 2nd quarter worth about $33,000. Finally, Quent Capital LLC bought a new position in Primerica during the 3rd quarter valued at about $33,000. Institutional investors own 90.88% of the company’s stock.

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.