Primerica, Inc.
- Open
- 288.64
- Day high
- 289.73
- Day low
- 288.64
- Prev close
- 287.65
- Volume
- 2K
- Mkt cap
- $8.9B
- P/E (TTM)
- 11.6
- EPS (TTM)
- $24.94
- P/B
- 3.5
- P/S
- 2.6
- Yield
- 1.60%
- Per share
- $4.64
- ▼Insiders net selling -$1.6M over the last 3 months (0 open-market buys, 4 sales)
- 🏛Institutions accumulating (13F)
Primerica, Inc. (PRI) is a Financial Services company listed on NYSE. The stock is up 8% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 4 sales (SEC Form 4). Drillr has 1 published research article covering PRI.
Primerica, Inc. (PRI) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 5 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
PRI earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 6, 2026 | $6.03 | $6.41 | +6.3% | $865M | -1.8% |
| May 7, 2026 | $5.45 | $5.96 | +9.4% | $873M | +2.0% |
| Feb 11, 2026 | $5.69 | $6.13 | +7.7% | $838M | -1.0% |
| Nov 5, 2025 | $5.52 | $6.33 | +14.7% | $840M | +0.0% |
| Feb 13, 2024 | $4.27 | $4.25 | -0.5% | $722M | -0.2% |
| Feb 23, 2023 | $2.93 | $3.49 | +19.1% | $687M | -1.3% |
| May 5, 2022 | $2.73 | $2.11 | -22.7% | $691M | -5.2% |
| Feb 14, 2022 | $3.18 | $2.94 | -7.5% | $724M | +19.4% |
| Aug 5, 2021 | $2.92 | $3.25 | +11.4% | $655M | +6.8% |
| May 5, 2021 | $2.38 | $2.44 | +2.5% | $638M | +4.7% |
| Feb 9, 2021 | $2.49 | $2.45 | -1.6% | $598M | +2.9% |
| Nov 4, 2020 | $2.35 | $2.78 | +18.3% | $568M | +18.3% |
PRI insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 17, 2026 | Schneider Peter W.officer: President | Sell | 1,800 | $312.65 |
| Aug 11, 2026 | Cottle Amber Lynnedirector | Sell | 279 | $313.63 |
| Aug 10, 2026 | Williams Glenn J.director, officer: Chief Executive Officer | Sell | 1,500 | $320.20 |
| Jun 15, 2026 | Williams Glenn J.director, officer: Chief Executive Officer | Sell | 1,500 | $280.49 |
| Jun 15, 2026 | Yastine Barbara A.director | Grant | 58 | $278.96 |
| Jun 15, 2026 | DAY CYNTHIA Ndirector | Grant | 87 | $278.96 |
| Jun 15, 2026 | Cottle Amber Lynnedirector | Grant | 12 | $278.96 |
| Jun 15, 2026 | Williams Donald R.director | Grant | 42 | $278.96 |
| Jun 15, 2026 | Babbit Joel M.director | Grant | 36 | $278.96 |
| May 21, 2026 | Williams Donald R.director | Grant | 640 | $281.06 |
| May 21, 2026 | DAY CYNTHIA Ndirector | Grant | 640 | $281.06 |
| May 21, 2026 | Dheer Sanjeevdirector | Grant | 640 | $281.06 |
| May 21, 2026 | Yastine Barbara A.director | Grant | 640 | $281.06 |
| May 21, 2026 | Wilson Darryl L.director | Grant | 640 | $281.06 |
| May 21, 2026 | Addison John A. Jr.director | Grant | 640 | $281.06 |
Source: PRI SEC Form 4 filings, latest Aug 17, 2026. For informational purposes only — not investment advice.
See the full PRI insider & 13F page →Primerica, Inc. company profile
Overview
Primerica, Inc. (NYSE:PRI) is a financial services company founded in 1927 and headquartered in Duluth, Georgia. The company went public in April 2010 and has established itself as a leading provider of financial products specifically targeted at middle-income households in the United States and Canada. Primerica operates through a network of over 129,000 licensed sales representatives who distribute term life insurance, investment products, and various other financial services to families who are often underserved by traditional financial institutions.
Business
Primerica operates in the financial services sector, specifically focusing on providing accessible financial products to middle-income American and Canadian families. The company's core business revolves around term life insurance and investment products, which are distributed through a multi-level marketing network of independent sales representatives. The company operates through four main business segments: 1. Term Life Insurance Segment (approximately 57% of operating revenues): This is Primerica's flagship business, underwriting individual term life insurance policies. Term life insurance provides temporary coverage for a specific period (typically 10-30 years) at lower premiums compared to permanent life insurance. The company has built its reputation on making life insurance affordable and accessible to middle-income families who might otherwise go uninsured. 2. Investment and Savings Products Segment (approximately 36% of operating revenues): This segment offers mutual funds, retirement plans, managed investments, variable annuities, and fixed indexed annuities. Variable annuities are insurance products that allow investors to allocate money among various investment options while providing certain guarantees. The segment has experienced strong growth, particularly in variable annuity sales, as aging demographics drive demand for retirement solutions. 3. Senior Health Segment (minimal revenue contribution): This segment offers segregated funds and Medicare-related products. However, the company has been evaluating this business due to profitability challenges and recently decided to exit certain parts of this market. 4. Corporate and Other Distributed Products Segment: This includes mortgage loans, prepaid legal services, identity theft protection, auto and homeowners insurance, and small business insurance products. These products complement the core offerings and provide additional revenue streams through the existing sales network.
Revenue model
Primerica generates revenue through multiple channels tied to its distribution model and product mix. The company's business model is built around commission-based sales through its network of independent representatives, combined with recurring premium income and asset-based fees. For the Term Life Insurance segment, Primerica earns money through insurance premiums paid by policyholders. The company underwrites policies, collects monthly or annual premiums, and pays out death benefits when claims occur. Profitability depends on maintaining favorable mortality experience (actual deaths versus projected deaths) and managing policy persistency (keeping policies in force). The paying customers are middle-income families seeking affordable life insurance protection. The Investment and Savings Products segment generates revenue through asset-based fees and sales-based commissions. As client assets under management grow through market appreciation and new contributions, Primerica earns ongoing management fees. The company also receives upfront commissions when clients purchase investment products like variable annuities and mutual funds. Several factors can significantly impact Primerica's margins and profitability. Economic pressures on middle-income families, such as inflation and cost-of-living increases, directly affect both insurance policy persistency and investment product sales. When families face financial stress, they may lapse their life insurance policies or reduce investment contributions. Equity market performance is crucial for the investment segment, as rising markets boost both asset values (increasing fee income) and investor confidence (driving new sales). Interest rate environments affect the attractiveness of the company's insurance and annuity products relative to alternatives. Regulatory changes in insurance or investment product regulations can impact product design and distribution costs. Finally, recruitment and retention of sales representatives is vital, as the entire distribution model depends on maintaining and growing an active, productive sales force.
Competitive moat
Primerica's competitive moat is moderately strong but faces several challenges. The company's primary moat stems from its established distribution network of over 129,000 licensed sales representatives who have built relationships within middle-income communities. This network took decades to build and provides access to a customer segment that traditional financial advisors often overlook due to smaller account sizes and commission potential. The company benefits from brand recognition within its target demographic and has developed expertise in underwriting and serving middle-income families' specific needs. Primerica's focus on term life insurance and simplified investment products creates a niche positioning that differentiates it from both traditional insurance companies and full-service financial firms. However, the moat faces significant threats. The multi-level marketing distribution model is increasingly scrutinized by regulators and faces reputational challenges. Digital disruption poses a major risk, as online platforms and robo-advisors can offer similar products with lower costs and greater convenience. Companies like Lemonade, Ladder, and various fintech firms are making insurance and investment products more accessible through technology, potentially bypassing the need for Primerica's representative network. Regulatory risk is substantial, as changes in insurance regulations, investment product rules, or MLM oversight could significantly impact the business model. The company also faces demographic challenges as younger consumers increasingly prefer digital-first financial services over traditional sales approaches. The competitive landscape includes large insurance companies with greater resources, technology-focused startups with lower cost structures, and established financial services firms expanding into the middle-income market. While Primerica's specialized focus provides some protection, the moat is not insurmountable and requires continuous investment in technology and adaptation to changing consumer preferences.
Risks & safety
Primerica demonstrates a strong financial position with solid margins of safety, though some metrics warrant attention. • Liquidity and Solvency: Excellent position with $625 million in cash and short-term investments, current ratio of 9.8x, and strong operating cash flow of $197 million in Q1 2025. No significant solvency risk. • Debt Management: Debt-to-equity ratio of 0.86 is manageable for a financial services company, though higher than non-financial firms. The company maintains adequate capital ratios for its insurance operations. • Valuation Metrics: Trading at 14.0x P/E ratio and 11.9x EV/EBITDA, which appears reasonable for a profitable financial services company. Price-to-book ratio of 4.2x reflects the asset-light nature of the business model. • Profitability: Strong return on equity of 7.5% and consistent profitability with $169 million net income in Q1 2025. Free cash flow generation of $197 million provides flexibility. • Capital Allocation: Active share repurchase program ($450 million authorized for 2025) and dividend payments demonstrate commitment to returning capital to shareholders. • Other Considerations: Regulatory compliance costs and potential MLM-related legal risks could impact future cash flows. Economic sensitivity of the target customer base creates cyclical earnings risk.
Recent development
Over the past few years, Primerica has undergone several strategic developments focused on modernizing its operations and expanding its product offerings. The company has made significant technology investments, allocating $16 million in 2025 to improve process efficiency, client experience, and agent productivity. These investments aim to automate policy processing and enhance the overall digital experience for both clients and representatives. The company launched a new term life insurance product line in October 2022, featuring improved underwriting capabilities, expanded underwriting classes, and simplified application processes. This product refresh was designed to enhance competitiveness and improve the client experience while leveraging better technology platforms. In the investment products space, Primerica has seen remarkable growth in variable annuity sales, with increases of 42% in recent quarters. The company has enhanced its product lineup to include more attractive features such as index-linked products with market upside potential and downside protection, appealing to an aging client base moving toward retirement. The company made a strategic decision to exit portions of its Senior Health business due to ongoing profitability challenges and regulatory complexities. This move allows Primerica to focus resources on its core, more profitable segments while generating approximately $98 million in tax savings. Distribution network expansion remains a key focus, with the company successfully growing its licensed sales force to over 148,000 representatives. The company has improved its recruiting processes and licensing pull-through rates, resulting in strong recruitment momentum with over 142,000 individuals recruited in Q3 2024 alone. Primerica has also expanded its mortgage business, with U.S. closed loans increasing 31% and Canadian referral programs growing 78%. Additionally, the company established a new distribution agreement with Canada Life for segregated funds, expanding its product offerings in the Canadian market.
PRI company profile · for informational purposes only — not investment advice.
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