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.
Primerica, Inc. (NYSE:PRI) is set to host its 23rd annual African American Leadership Council (AALC) Conference from March 24-26, 2023, in Orlando, Florida. With an expected attendance of over 3,500, the conference, themed “It’s Your Move”, will focus on leadership and financial education tailored to African American communities. Key speakers will include Primerica CEO Glenn Williams and Senior National Sales Director Ivan Earle. The AALC aims to mentor emerging leaders and support various charitable causes, including a donation to the Boris L. Henson Foundation for mental health initiatives in Black communities.
Primerica (NYSE: PRI) reported its financial results for the fourth quarter of 2022, highlighting a 4.4% growth in its life-licensed sales force, reaching a record 135,208 representatives. Term Life net premiums rose by 5%, with adjusted direct premiums up by 6%. Despite GAAP revenues decreasing by 5% to $686.9 million, net income was $131.8 million, translating to earnings per share (EPS) of $3.54, and a return on equity (ROE) of 31.6%. Adjusted operating EPS increased by 19% to $3.49. Investment and Savings Products sales totaled $10 billion for the year, marking the second-highest in company history, despite ongoing market volatility.
Primerica, Inc. (NYSE:PRI) has announced an 18% increase in stockholder dividends to
Primerica, Inc. (NYSE: PRI) has released a report highlighting the financial struggles faced by middle-income families in the U.S. As inflation rises, especially in essentials like food, gas, and utilities, many families are tapping into savings or ceasing to save altogether. The report indicates that 82% of respondents are impacted financially, with prices for necessities peaking at 18.2% above last year. Despite these challenges, 53% of families still rate their financial situation positively. However, there is a disconnect between budgeting plans and actual spending.
Primerica, Inc. (NYSE:PRI) will host a webcast on February 24, 2023, at 10:00 a.m. Eastern time to discuss its results for the quarter ended December 31, 2022, and future business expectations. A news release with financial results will be issued after market close on February 23, 2023. Primerica provides financial services to middle-income households in North America, focusing on term life insurance and investment products. As of December 31, 2021, the company insured over 5.7 million lives and managed over 2.7 million client investment accounts.
Primerica, Inc. (NYSE: PRI) is set to gather its top sales leaders in Dallas, Texas on January 4-5, 2023, to discuss initiatives for the year ahead. In 2022, Primerica achieved significant milestones, growing its life-licensed representatives to over 135,000 and issuing $104 billion in term life insurance, raising its total coverage to $916 billion. The company paid out approximately $1.9 billion in death claims and helped clients invest nearly $10 billion, reaching total client assets of $84 billion. Looking forward, Primerica plans to introduce innovative products to support middle-income families.
Primerica, Inc. (NYSE: PRI) has authorized a $375 million share repurchase program effective from January 1, 2023 to December 31, 2023. The program allows buybacks through various methods, subject to market conditions and regulations. CEO Glenn Williams emphasized the company's commitment to middle-income families, with over $912 billion in term life coverage and $80 billion in client assets as of September 30, 2022. The Board is also focused on returning capital to shareholders, showcasing their commitment to enhancing shareholder value.
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