Primerica Stock Price, News & Analysis

Primerica, Inc. (NYSE:PRI) reported a historic milestone in March 2021, achieving over $1 billion in Investment & Savings Products (ISP) sales within a single month, marking a first in its 44-year history. The company anticipates first quarter ISP sales to reach approximately $2.8 billion, driven by strong mutual fund and variable annuity sales. CEO Glenn Williams highlighted that the COVID-19 pandemic has heightened the demand from middle-income families for financial guidance and protection. Primerica remains dedicated to helping clients navigate their financial challenges amid ongoing economic pressures.

Primerica, Inc. (NYSE: PRI) reported Q4 2020 revenues of $598.3 million, a 12% increase year-over-year. Net income rose 7% to $100.1 million, with diluted EPS of $2.52, up 13%. Adjusted operating revenues were $594.7 million. The COVID-19 pandemic significantly affected the Term Life segment, resulting in $14 million in death claims. The Investment and Savings Products segment achieved record client assets of $82 billion. For the full year, total revenues reached $2.2 billion, marking an 8% increase, with net income at $386.2 million. The company increased dividends by 18% to $0.47 per share.

Primerica, Inc. (NYSE:PRI) will hold a webcast on February 10, 2021, at 10:00 a.m. ET to discuss its Q4 2020 results and future expectations. The earnings release will be available after market close on February 9. Primerica serves middle-income households in North America, providing financial solutions through term life insurance and investment products. As of December 31, 2020, it insured approximately 5.5 million lives and managed over 2.6 million client investment accounts. Primerica is a leading issuer of Term Life insurance in North America.

Primerica, Inc. (NYSE:PRI) is set to launch a virtual conference for over 800 sales leaders on January 7-8, 2021, focusing on initiatives for 2021 and beyond. CEO Glenn Williams emphasized the increased need for financial solutions post-2020 disruptions. In 2020, Primerica reported $859 billion in life insurance in force and $80 billion in projected client asset values. Key production metrics included $109 billion in term life insurance issued and $7.8 billion in investment sales. The company aims to build on its successful 2020 by improving client interactions and expanding its sales force.

Primerica, Inc. (NYSE: PRI) reported strong financial results for Q3 2020, with total revenues of $568.5 million, up 9% year-over-year. Net income rose 17% to $112.1 million, and earnings per diluted share increased 23% to $2.81. The company's return on equity (ROE) improved to 26.7% from 24.1%. Term life insurance policy sales surged 36% year-over-year, reflecting growing demand for protection products amid the pandemic. Despite pressures on investment products, the firm saw an 8% rise in average client asset values. Additionally, Primerica repurchased $41.5 million of common stock during the quarter.

Primerica, Inc. (NYSE:PRI) will hold a webcast on November 5, 2020, at 10:00 a.m. ET to discuss its financial results for Q3 2020, alongside future business expectations. A news release detailing these results will be published on November 4, 2020, after market close. Primerica, based in Duluth, GA, is a key financial services provider for middle-income households in North America, with approximately 5 million lives insured and over 2.5 million client investment accounts as of December 31, 2019.

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and Long-Term Issuer Credit Ratings (Long-Term ICR) of "aa-" for Primerica Life Insurance Company and its affiliates, as well as the Long-Term ICR of "a-" for Primerica, Inc. (NYSE: PRI). The outlook is stable. Key highlights include very strong balance sheet strength, operating performance, and favorable business profile. However, risks include reliance on captive reinsurance solutions and higher allocations to NAIC class 2 bonds. The group maintains a robust agent distribution network, essential for its term life insurance focus.