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

Primerica, Inc. (NYSE:PRI) announced a quarterly dividend on Wednesday, August 5th. Stockholders of record on Friday, August 21st will be paid 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 dividend yield of 1.5%. The ex-dividend date is Friday, August 21st.

Primerica has increased its dividend 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 21.1% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

Shares of PRI traded up $1.34 during mid-day trading on Thursday, hitting $321.93. 139,143 shares of the company traded hands, compared to its average volume of 204,954. The stock has a market cap of $10.04 billion, a price-to-earnings ratio of 13.53 and a beta of 0.87. The stock has a 50-day moving average price of $293.31 and a two-hundred day moving average price of $273.96. Primerica has a 1 year low of $230.09 and a 1 year high of $327.28.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, topping analysts’ consensus estimates of $6.03 by $0.38. The business had revenue of $865.07 million during the quarter, compared to the consensus estimate of $881.00 million. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.46 EPS. On average, analysts forecast that Primerica will post 24.65 EPS for the current year.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 1,500 shares of Primerica stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $280.49, for a total value of $420,735.00. Following the sale, the chief executive officer owned 33,696 shares of the company’s stock, valued at $9,451,391.04. The trade was a 4.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $279.64, for a total transaction of $503,352.00. Following the completion of the transaction, the president directly owned 9,811 shares of the company’s stock, valued at approximately $2,743,548.04. This trade represents a 15.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Primerica

A number of institutional investors and hedge funds have recently made changes to their positions in PRI. SJS Investment Consulting Inc. raised its position in shares of Primerica by 176.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock valued at $29,000 after buying an additional 74 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Primerica during the fourth quarter worth approximately $30,000. Root Financial Partners LLC increased its stake in Primerica by 52.6% during the first quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 61 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Primerica by 68.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 73 shares during the period. Finally, Steph & Co. lifted its stake in shares of Primerica by 38.0% in the 1st quarter. Steph & Co. now owns 196 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 54 shares during the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

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.