Welcome to our dedicated page for Primerica news (Ticker: PRI), a resource for investors and traders seeking the latest updates and insights on Primerica stock.
Primerica, Inc. (NYSE: PRI) is a financial services company that focuses on middle-income households in North America, and its news flow reflects that focus. Company announcements frequently highlight developments in its term life insurance and investment and savings products businesses, as well as updates on its large field force of independent licensed representatives.
Investors and observers following PRI news can expect regular coverage of quarterly financial results, where Primerica reports on segment performance in Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. These releases often discuss trends in term life premiums, client asset values, product sales and the size of the licensed sales force.
Primerica also issues news about capital management actions, such as share repurchase authorizations approved by its Board of Directors. These announcements describe the scope and timing of repurchase programs and reference the company’s view of its capital generation and cash flows.
Another recurring theme in Primerica’s news is its economic research on middle-income families. The company regularly publishes updates on the Primerica Household Budget Index™ (HBI™), a metric that tracks how inflation and wage trends affect the purchasing power of middle-income Americans. Special reports based on the HBI™ and the Financial Security Monitor™ survey provide additional context on how households are responding to changes in the cost of living.
News from Primerica’s Canadian operations may include disclosures from PFSL Fund Management Ltd. and related entities about fund reporting and management activities. Together, these items give a view into how Primerica serves middle-income households through insurance, investment products and financial education. Readers interested in PRI can use the news page to monitor financial performance, research releases and corporate actions over time.
Primerica, Inc. (NYSE:PRI) announced its acquisition of 80% of e-TeleQuote Limited for $600 million, with plans to purchase the remaining stake over four years. This strategic move is aimed at enhancing Primerica's offerings in the Medicare insurance sector, leveraging e-TeleQuote's technology and sales expertise to reach middle-income families. The deal is expected to be accretive to earnings and will expand Primerica's distribution capabilities. However, Primerica has suspended stock buybacks for 2021 but plans to resume them in 2022.
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.
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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.
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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.
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