Primerica, Inc. (PRI) to Issue Quarterly Dividend of $0.25
Primerica, Inc. (NYSE:PRI) declared a quarterly dividend on Wednesday, February 7th, RTT News reports. Stockholders of record on Thursday, February 15th will be given a dividend of 0.25 per share by the financial services provider on Friday, March 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.98%. This is a positive change from Primerica’s previous quarterly dividend of $0.20.
Primerica has raised its dividend by an average of 17.6% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Primerica has a payout ratio of 14.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Primerica to earn $6.88 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 11.6%.
Primerica (PRI) opened at $102.50 on Thursday. Primerica has a fifty-two week low of $70.00 and a fifty-two week high of $108.05. The firm has a market capitalization of $4,280.00, a P/E ratio of 18.79, a PEG ratio of 1.40 and a beta of 1.14.
A number of analysts recently commented on the company. ValuEngine upgraded Primerica from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Wells Fargo & Co reiterated a “market perform” rating and set a $100.00 price target (up from $95.00) on shares of Primerica in a report on Tuesday, January 9th. Zacks Investment Research lowered Primerica from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $87.00 price target on shares of Primerica in a report on Monday, October 16th. Finally, SunTrust Banks lifted their price target on Primerica to $112.00 and gave the stock a “hold” rating in a report on Monday, January 22nd. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Primerica has an average rating of “Hold” and a consensus price target of $101.25.
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Primerica Company Profile
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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