Primerica, Inc. (NYSE:PRI – Get Free Report) announced a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Shareholders of record on Thursday, November 21st will be paid a dividend of 0.90 per share by the financial services provider on Thursday, December 12th. This represents a $3.60 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Thursday, November 21st.
Primerica has increased its dividend by an average of 17.6% annually over the last three years and has raised its dividend every year for the last 15 years. Primerica has a payout ratio of 17.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Primerica to earn $20.26 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 17.8%.
Primerica Price Performance
NYSE:PRI traded down $0.30 during mid-day trading on Thursday, reaching $290.70. The company’s stock had a trading volume of 132,177 shares, compared to its average volume of 154,752. The company’s fifty day simple moving average is $268.36 and its two-hundred day simple moving average is $247.42. Primerica has a twelve month low of $184.76 and a twelve month high of $295.67. The stock has a market cap of $9.83 billion, a P/E ratio of 23.29 and a beta of 1.08.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on PRI shares. TD Cowen started coverage on Primerica in a research note on Wednesday, October 9th. They issued a “buy” rating and a $314.00 price objective on the stock. Keefe, Bruyette & Woods lifted their price objective on Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Piper Sandler began coverage on Primerica in a report on Friday, August 30th. They issued a “neutral” rating and a $283.00 price target for the company. Jefferies Financial Group boosted their price target on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Finally, Morgan Stanley upped their price objective on Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Primerica presently has a consensus rating of “Hold” and an average price target of $281.67.
Read Our Latest Stock Report on PRI
Insider Activity
In other news, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the completion of the sale, the president now owns 10,259 shares in the company, valued at $2,678,727.49. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director John A. Jr. Addison sold 2,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total transaction of $507,700.00. Following the sale, the director now directly owns 15,151 shares of the company’s stock, valued at $3,846,081.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Peter W. Schneider sold 1,500 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the sale, the president now directly owns 10,259 shares in the company, valued at $2,678,727.49. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock worth $1,657,015 over the last 90 days. 0.61% of the stock is currently owned by company insiders.
Primerica Company Profile
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.
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