Primerica, Inc. (PRI) To Go Ex-Dividend on May 22nd

Primerica, Inc. (NYSE:PRI) announced a quarterly dividend on Thursday, May 8th, Wall Street Journal reports. Stockholders of record on Thursday, May 22nd will be given a dividend of 1.04 per share by the financial services provider on Friday, June 13th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Thursday, May 22nd.

Primerica has increased its dividend payment by an average of 20.6% per year over the last three years and has increased its dividend every year for the last 2 years. Primerica has a payout ratio of 18.3% 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 Price Performance

NYSE PRI opened at $280.39 on Tuesday. The company has a 50 day simple moving average of $269.18 and a 200-day simple moving average of $280.10. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of 20.39 and a beta of 1.02. Primerica has a 52-week low of $219.52 and a 52-week high of $307.91.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.77 by $0.25. The business had revenue of $803.56 million during the quarter, compared to analyst estimates of $783.54 million. Primerica had a net margin of 15.14% and a return on equity of 31.11%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.91 earnings per share. On average, analysts predict that Primerica will post 20.6 EPS for the current year.

Analyst Ratings Changes

PRI has been the topic of several recent research reports. BMO Capital Markets initiated coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price objective on the stock. Morgan Stanley raised their price objective on shares of Primerica from $274.00 to $296.00 and gave the company an “equal weight” rating in a research report on Monday. Keefe, Bruyette & Woods cut their price objective on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 9th. Finally, StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $308.00.

Insider Activity

In other news, insider Nicholas Adam Jendusa sold 234 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total transaction of $65,555.10. Following the transaction, the insider now owns 200 shares in the company, valued at approximately $56,030. The trade was a 53.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the sale, the president now owns 13,301 shares of the company’s stock, valued at approximately $3,762,852.90. The trade was a 13.07% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Primerica

A number of institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC lifted its position in shares of Primerica by 20.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,142 shares of the financial services provider’s stock worth $609,000 after acquiring an additional 366 shares during the period. Empowered Funds LLC bought a new stake in shares of Primerica during the first quarter valued at approximately $1,763,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Primerica by 27.7% in the first quarter. Goldman Sachs Group Inc. now owns 129,666 shares of the financial services provider’s stock valued at $36,894,000 after purchasing an additional 28,129 shares in the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

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.