Primerica, Inc. (NYSE:PRI) declared a quarterly dividend on Monday, November 6th, RTT News reports. Shareholders of record on Friday, November 17th will be given a dividend of 0.20 per share by the financial services provider on Friday, December 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.90%.
Primerica has raised its dividend payment by an average of 16.7% per year over the last three years and has raised its dividend every year for the last 6 years. Primerica has a payout ratio of 15.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Primerica to earn $5.90 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 13.6%.
Primerica (NYSE PRI) traded up $0.20 during mid-day trading on Monday, hitting $88.85. The company’s stock had a trading volume of 168,818 shares, compared to its average volume of 233,525. Primerica has a 1 year low of $52.75 and a 1 year high of $89.60. The stock has a market cap of $3,990.00, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 1.70 and a beta of 1.18.
Primerica (NYSE:PRI) last posted its earnings results on Tuesday, August 8th. The financial services provider reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.01. Primerica had a return on equity of 18.48% and a net margin of 14.41%. The firm had revenue of $413.70 million for the quarter, compared to the consensus estimate of $410.97 million. During the same quarter in the prior year, the business earned $1.23 EPS. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. research analysts predict that Primerica will post 5.23 earnings per share for the current year.
A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $87.00 target price on shares of Primerica in a report on Monday, October 16th. SunTrust Banks, Inc. downgraded Primerica from a “buy” rating to a “hold” rating in a report on Thursday, October 19th. They noted that the move was a valuation call. Zacks Investment Research upgraded Primerica from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a report on Wednesday, October 11th. Wells Fargo & Company reiterated a “hold” rating on shares of Primerica in a report on Tuesday, August 8th. Finally, BidaskClub raised Primerica from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $88.50.
In other news, VP Alison S. Rand sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $76.50, for a total value of $153,000.00. Following the sale, the vice president now directly owns 35,385 shares of the company’s stock, valued at approximately $2,706,952.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Peter W. Schneider sold 1,301 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $76.92, for a total value of $100,072.92. Following the completion of the sale, the president now directly owns 28,138 shares in the company, valued at $2,164,374.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,301 shares of company stock worth $495,113. Insiders own 0.86% of the company’s stock.
Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance company subsidiaries.
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