Primerica, Inc. (PRI) To Go Ex-Dividend on May 21st

Primerica, Inc. (NYSE:PRI) declared a quarterly dividend on Wednesday, May 6th. Stockholders of record on Thursday, May 21st will be given a dividend of 1.20 per share by the financial services provider on Friday, June 12th. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, May 21st.

Primerica has raised its dividend payment by an average of 0.2%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 21.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Primerica to earn $26.11 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 18.4%.

Primerica Price Performance

PRI stock opened at $272.42 on Friday. The company has a market cap of $8.62 billion, a P/E ratio of 11.42 and a beta of 0.91. Primerica has a 1 year low of $230.09 and a 1 year high of $288.03. The stock’s fifty day moving average price is $261.66 and its 200-day moving average price is $260.30.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.45 by $0.51. The firm had revenue of $872.30 million for the quarter, compared to the consensus estimate of $855.36 million. Primerica had a return on equity of 32.90% and a net margin of 22.99%.The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the business posted $5.02 EPS. As a group, analysts expect that Primerica will post 23.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $290.00 target price on shares of Primerica in a report on Thursday, March 26th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Primerica in a report on Wednesday. Zacks Research cut Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Morgan Stanley decreased their target price on Primerica from $292.00 to $285.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 3rd. Finally, TD Cowen reaffirmed a “buy” rating on shares of Primerica in a report on Wednesday, January 28th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $293.60.

Primerica Company Profile

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.