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. (symbol: PRI) is a leading provider of financial services dedicated to helping middle-income families achieve financial independence. Founded in 1977, Primerica revolutionized the life insurance industry with its 'buy term and invest the difference' philosophy. This approach encourages families to purchase affordable term life insurance, allowing them to allocate more funds toward investments for their future.
Primerica's commitment extends beyond life insurance to address the critical issue of household debt. The company offers comprehensive solutions designed to help families eliminate debt and boost their savings. Operating in the U.S., Canada, and Puerto Rico, Primerica serves over 6 million clients with the support of more than 100,000 licensed representatives and 24,000 licensed mutual fund representatives, making it the largest sales force in North America.
The company's primary subsidiaries include Primerica Financial Services, specializing in marketing, Primerica Life Insurance Company, the principal life insurance underwriting entity, and PFS Investments, which provides investment and savings products, brokerage services, and registered investment advisory.
Primerica operates through four main segments: Term Life Insurance, Investment and Savings Products, Senior Health, and Corporate and Other Distributed Products. The majority of its revenue is derived from operations in the United States. Securities clients under Primerica have nearly $25 billion in assets under management, and in 2008, the company placed in force more than $90 billion in life insurance.
With its steadfast focus on financial empowerment, Primerica continues to support families in reaching their financial goals through innovative products and dedicated service.
The latest Primerica Household Budget Index™ (HBI™) reveals that middle-income households continue to face significant inflation pressures. The index showed purchasing power for necessities declined to 99.7% in January, dropping 0.6% month-over-month, though up 0.3% year-over-year.
Key factors impacting household budgets include:
- Auto insurance costs rose 2.2% monthly and nearly 12% annually
- Gasoline prices increased 1.8% in January after previous declines
- Utilities costs continued to rise
While the general Consumer Price Index (CPI) showed 3.0% inflation in January, the adjusted impact on middle-income households was 3.6%. For necessity items specifically, the adjusted CPI increase was 4.4% year-over-year, highlighting the disproportionate impact on middle-income families.
Primerica (NYSE: PRI) reported strong Q4 2024 results with total revenues of $788.1 million, up 12% year-over-year. Net income from continuing operations reached $167.7 million (+9%), with earnings per diluted share of $4.98 (+14%).
Key highlights include:
- Life-licensed sales force grew to a record 151,611 (+7%)
- Investment and Savings Products sales increased 41%
- Term Life net premiums grew 4%
- Client asset values reached $112.1 billion (+16%)
- Board approved 16% dividend increase to $1.04 per share
For full-year 2024, net income from continuing operations was $720.1 million (+22%), with earnings per diluted share of $20.99 (+28%). The company completed its $425 million share repurchase program and authorized a new $450 million buyback through December 2025.
Primerica's Financial Security Monitor™ (FSM™) reveals mixed financial sentiment among middle-income Americans in December 2024. While the Household Budget Index™ (HBI™) shows a slight improvement in purchasing power to 100.9% (up 1.1% year-over-year), 65% of respondents report their income isn't keeping pace with living costs.
Key findings show that 51% of respondents feel stressed about rising costs, with generational differences evident: 75% of Millennials, 62% of Gen X, and 61% of Gen Z report financial stress, compared to 39% of Baby Boomers. The survey also indicates that 65% expect their financial situation to remain the same or worsen in the coming year.
Regarding financial advice, 63% don't use social media for financial information. Among those who do, Facebook (18%), YouTube (17%), and Instagram (14%) are the most popular platforms. Notable improvements in purchasing power were driven by falling gas prices and a 4% year-over-year income gain.
Primerica (NYSE:PRI) has announced it will host a webcast on Wednesday, February 12, 2025, at 10:00 a.m. ET to discuss its fourth quarter 2024 financial results and other business-related matters, including future expectations. The company will release its earnings report after market close on Tuesday, February 11, 2025. The earnings release, financial supplement, and live webcast will be accessible on Primerica's investor website, with a replay available for approximately 30 days.
Primerica (NYSE: PRI) announces its 2025 Leadership Meeting in Dallas, Texas, gathering over 900 top field leaders on January 7-8, 2025. The company reported significant achievements for 2024, including:
- A 7% growth in licensed sales force to over 151,600 representatives
- $122 billion in term life insurance issued, reaching $954 billion coverage in force
- Approximately $2 billion paid in death claims
- $12 billion in client investments, bringing total client asset values to $112 billion
- Over $500 million in mortgage facilitation
- 446,000 new representatives recruited
- 56,000 newly life-licensed representatives added
- Over 2,250 newly securities-licensed representatives, totaling over 25,400
Primerica (NYSE: PRI) released its monthly Household Budget Index™ (HBI™) showing improved purchasing power for middle-income households. The index, which tracks families with incomes between $30,000 and $130,000, reached 103.6% in November 2024, up from 103.1% in October 2024. This represents the seventh consecutive monthly increase and marks a 2.8% improvement from the previous year.
The purchasing power has reached its highest level since January 2021, primarily driven by declining gas prices and stable costs for other necessity goods. The HBI™ serves as an indicator of financial health for middle-income families in the United States and Canada.
Primerica (NYSE: PRI) released its latest Household Budget Index™ (HBI™) showing improved purchasing power for middle-income households. The index, which tracks families with incomes between $30,000 and $130,000, reached 103.1% in October 2024, up from 102.7% in September 2024. This represents the sixth consecutive monthly increase and the highest level since January 2021. The index shows a 3.4% year-over-year improvement, primarily attributed to declining gas prices in October.
PFSL Fund Management has announced a risk rating change for the Primerica Income Fund from 'low' to 'low to medium'. This adjustment follows the Canadian Securities Administrators' risk rating methodology and PFSL's periodic review of its publicly-offered mutual funds. The Fund's investment objective, strategies, and management remain unchanged. The updated risk rating will be incorporated into the Fund's offering documents in compliance with securities laws.
Primerica (NYSE: PRI) has announced a new $450 million share repurchase program extending through December 31, 2025. The program, authorized by the Board of Directors, will be executed through open market transactions, block trades, and/or privately negotiated transactions, subject to market and regulatory conditions. CEO Glenn Williams attributed the decision to the company's success in revenue growth and free cash flow generation. The company maintains discretion to discontinue the program at any time and will conduct repurchases in compliance with regulatory guidelines, including Rule 10b-18 of the Securities Exchange Act.
Primerica (NYSE: PRI) reported strong Q3 2024 results with total revenues of $774.1 million, up 11% year-over-year. Net income from continuing operations reached $194.7 million, increasing 24%. The company's life-licensed sales force grew 7% to 148,890 representatives, with new life licenses up 17%. Term Life net premiums grew 5% with adjusted direct premiums up 6%. Investment and Savings Products showed remarkable growth with sales up 34% to $2.9 billion and client asset values increasing 26% to $111 billion. The company declared a dividend of $0.90 per share and repurchased $128.8 million of common stock during the quarter.
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