Primerica, Inc. (NYSE:PRI) to Issue Quarterly Dividend of $1.04

Primerica, Inc. (NYSE:PRI - Get Free Report) declared a quarterly dividend on Tuesday, February 11th,Wall Street Journal reports. Stockholders of record on Friday, February 21st will be paid a dividend of 1.04 per share by the financial services provider on Friday, March 14th. This represents a $4.16 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from Primerica's previous quarterly dividend of $0.90.

Primerica has raised its dividend payment by an average of 20.6% per year over the last three years. Primerica has a dividend payout ratio of 18.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Primerica to earn $20.45 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 20.3%.

Primerica Trading Down 1.0 %

Shares of NYSE PRI traded down $2.85 during mid-day trading on Friday, hitting $281.29. The company had a trading volume of 134,291 shares, compared to its average volume of 125,765. The company has a market capitalization of $9.39 billion, a price-to-earnings ratio of 21.49 and a beta of 1.11. Primerica has a 1 year low of $184.76 and a 1 year high of $307.91. The stock's 50-day moving average price is $282.17 and its 200-day moving average price is $275.91.

Primerica (NYSE:PRI - Get Free Report) last posted its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 30.93% and a net margin of 14.95%. As a group, equities research analysts forecast that Primerica will post 19.79 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods reduced their target price on Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research report on Friday, January 10th. Morgan Stanley boosted their target price on Primerica from $308.00 to $313.00 and gave the stock an "equal weight" rating in a research report on Friday. StockNews.com lowered Primerica from a "buy" rating to a "hold" rating in a research note on Friday, February 7th. Truist Financial lifted their price target on Primerica from $300.00 to $340.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Finally, Piper Sandler dropped their price target on Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a research note on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $310.43.

Primerica declared that its board has approved a stock buyback program on Thursday, November 14th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

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.