Primerica, Inc. (PRI) To Go Ex-Dividend on February 23rd

Primerica, Inc. (NYSE:PRI) announced a quarterly dividend on Wednesday, February 11th. Stockholders of record on Monday, February 23rd will be given a dividend of 1.20 per share by the financial services provider on Friday, March 13th. This represents a c) annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, February 23rd. This is a 15.4% increase from Primerica’s previous quarterly dividend of $1.04.

Primerica has raised its dividend by an average of 0.2%per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Primerica has a payout ratio of 21.1% indicating that 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 $4.80 annual dividend with an expected future payout ratio of 21.2%.

Primerica Price Performance

PRI opened at $260.73 on Friday. Primerica has a fifty-two week low of $230.09 and a fifty-two week high of $296.00. The company’s 50-day moving average is $261.08 and its 200 day moving average is $263.40. The firm has a market capitalization of $8.32 billion, a P/E ratio of 11.37 and a beta of 0.91.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $6.13 EPS for the quarter, beating the consensus estimate of $5.69 by $0.44. Primerica had a net margin of 22.82% and a return on equity of 32.30%. The firm had revenue of $853.51 million during the quarter, compared to analyst estimates of $839.65 million. During the same quarter last year, the business posted $5.03 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities research analysts expect that Primerica will post 20.6 earnings per share for the current year.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total transaction of $641,025.00. Following the sale, the chief executive officer directly owned 27,392 shares of the company’s stock, valued at $7,023,582.72. This represents a 8.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joel M. Babbit sold 700 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $255.00, for a total transaction of $178,500.00. Following the transaction, the director owned 8,400 shares of the company’s stock, valued at $2,142,000. This represents a 7.69% decrease in their position. The SEC filing for this sale provides additional information. 0.61% of the stock is currently owned by corporate insiders.

Institutional Trading of Primerica

Several hedge funds and other institutional investors have recently modified their holdings of PRI. Invesco Ltd. grew its stake in Primerica by 200.3% in the 4th quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock valued at $92,414,000 after buying an additional 238,571 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of Primerica by 413.6% during the fourth quarter. Corient Private Wealth LLC now owns 48,049 shares of the financial services provider’s stock worth $12,414,000 after acquiring an additional 38,694 shares in the last quarter. SkyView Investment Advisors LLC lifted its position in shares of Primerica by 0.7% during the fourth quarter. SkyView Investment Advisors LLC now owns 6,942 shares of the financial services provider’s stock worth $1,794,000 after acquiring an additional 46 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Primerica by 7.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 284,890 shares of the financial services provider’s stock worth $73,604,000 after acquiring an additional 19,167 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of Primerica by 543.6% in the fourth quarter. NewEdge Advisors LLC now owns 2,407 shares of the financial services provider’s stock worth $622,000 after acquiring an additional 2,033 shares during the period. Institutional investors own 90.88% of the company’s stock.

About Primerica

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.