Overview

• Primerica Q3 adjusted revenue and EPS beat analyst expectations

• Record ISP sales of $3.7 bln, up 28% yr/yr

• Company repurchased $129 mln of common stock during the quarter

Outlook

• Company did not provide specific guidance for future quarters or full year in the statement

Result Drivers

• ISP SALES GROWTH - Record ISP sales of $3.7 bln, up 28% yr/yr, driven by strong demand and favorable equity markets

• TERM LIFE PREMIUMS - Term Life net premiums increased 3% with adjusted direct premiums growing 5%, despite a 15% decline in new policies issued

• ACTUARIAL ASSUMPTION REVIEW - Annual actuarial assumption review resulted in a net remeasurement gain of $23.1 mln, impacting earnings positively

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the life & health insurance peer group is "buy."

• Wall Street's median 12-month price target for Primerica Inc is $320.00, about 18.6% above its November 4 closing price of $260.41

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release: ID:nBw5qXxqka

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)