Primerica Inc

PRI

Equity

ISIN US74164M1080 / Valor 11147221

New York Stock Exchange, Inc (2024-12-24)

USD 271.72+0.56%

Primerica Inc
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About company

Primerica Inc is a financial services company that offers insurance, investments, and financial planning services to individuals and families. They operate on a direct selling model, with independent representatives selling their products and services to clients.

Summarized from source with an LLMView SourceSector: Finance

Revenue Growth

Primerica Inc. reported total revenues of $774.1 million for the third quarter of 2024, marking an 11% increase compared to the same period in 2023. This growth was driven by strong performance across its business segments, particularly in the Term Life Insurance and Investment and Savings Products divisions.

Net Income and Earnings

For the third quarter of 2024, Primerica Inc. achieved a net income from continuing operations of $194.7 million, representing a 24% increase from the previous year. The net earnings per diluted share from continuing operations rose by 31% to $5.72, benefiting from a remeasurement gain of $0.52 per diluted share.

Investment and Savings Products

Primerica Inc.'s Investment and Savings Products segment saw significant growth, with sales reaching $2.9 billion, a 34% increase year-over-year. Client asset values also rose by 26%, ending the quarter at $111 billion, reflecting favorable equity market conditions and strong investor demand.

Term Life Insurance Performance

In the third quarter of 2024, Primerica Inc. issued $31 billion in Term Life face amount, a 5% increase from the prior year. The Term Life segment's net premiums grew by 5%, with adjusted direct premiums up by 6%, contributing to a robust performance in this segment.

Shareholder Returns

Primerica Inc. declared a dividend of $0.90 per share, payable on December 12, 2024. Additionally, the company repurchased $129 million of common stock during the quarter, reflecting its commitment to returning value to shareholders.

Summarized from source with an LLMView Source

Key figures

32.1%1Y

76.9%3Y

105%5Y

Performance

21.4%1Y

26.3%3Y

34.1%5Y

Volatility