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Primerica Inc   (PRI)
Other Ticker:  
 
    Sector  Financial    Industry Life Insurance
   Industry Life Insurance
   Sector  Financial
 
Price: $246.1600 $-0.72 -0.292%
Day's High: $248.6375 Week Perf: -0.2 %
Day's Low: $ 246.03 30 Day Perf: 0.52 %
Volume (M): 83 52 Wk High: $ 254.41
Volume (M$): $ 20,308 52 Wk Avg: $204.09
Open: $247.82 52 Wk Low: $159.34



 Market Capitalization (Millions $) 8,818
 Shares Outstanding (Millions) 36
 Employees 1,764
 Revenues (TTM) (Millions $) 2,776
 Net Income (TTM) (Millions $) 554
 Cash Flow (TTM) (Millions $) 31
 Capital Exp. (TTM) (Millions $) 0

Primerica Inc

Primerica, Inc. is a leading distributor of financial products to middle income households in the United States and Canada with 106,710 licensed sales representatives. We assist our clients in meeting their needs for term life insurance, which we underwrite, and mutual funds, annuities and other financial products, which we distribute primarily on behalf of third parties. Our distribution model uniquely positions us to reach underserved middle income consumers in a cost effective manner and has proven itself in both favorable and challenging economic environments.

Our mission is to serve middle income families by helping them make informed financial decisions and providing them with a strategy and means to gain financial independence. Our distribution model is designed to:

Address our clients’ financial needs. Our licensed sales representatives primarily use our proprietary financial needs analysis tool (“FNA”) and an educational approach to demonstrate how our products can assist clients to provide financial protection for their families, save for their retirement and other needs, and manage their debt. Typically, our clients are the friends, family members and personal acquaintances of our sales representatives. Meetings are generally held in informal, face-to-face settings, usually in the clients’ homes.

Provide a business opportunity. We provide an entrepreneurial business opportunity for individuals to distribute our financial products. Low entry costs and the ability to begin part-time allow our sales representatives to supplement their income by starting their own independent businesses without incurring significant start-up costs or leaving their current jobs. Our unique compensation structure, technology, training and back-office processing are designed to enable our sales representatives to successfully grow their independent businesses.

We conduct our core business activities in the United States through three principal entities, all of which are direct or indirect wholly owned subsidiaries of the Parent Company:

Primerica Financial Services, Inc. (“PFS”), our general agency and marketing company;

Primerica Life Insurance Company (“Primerica Life”), our principal life insurance underwriting company; and

PFS Investments Inc. (“PFS Investments”), our investment and savings products company, broker-dealer and registered investment advisor.
Primerica Life is domiciled in Massachusetts, and its wholly owned subsidiary, National Benefit Life Insurance Company (“NBLIC”), is a New York-domiciled life insurance underwriting company.
We conduct our core business activities in Canada through three principal entities, all of which are indirect wholly owned subsidiaries of the Parent Company:

Primerica Life Insurance Company of Canada (“Primerica Life Canada”), our Canadian life insurance underwriting company;

PFSL Investments Canada Ltd. (“PFSL Investments Canada”), our Canadian licensed mutual fund dealer; and

PFSL Fund Management Ltd. (“PFSL Fund Management”), our Canadian investment funds manager.

New sales representatives are recruited by existing sales representatives. When these new recruits join our sales force, they are assigned an upline relationship with the sales representative who recruited them and with the recruiting sales representative’s respective upline RVP organization. As new sales representatives are successful in recruiting other sales representatives, they begin to build their own organization of sales representatives who become their downline sales representatives. We encourage our sales representatives to bring in new recruits to build their own sales organizations, enabling them to earn override commissions on sales made by members of their downline organization.


RVPs establish and maintain their own offices, which we refer to as field offices. Additionally, they are responsible for funding the costs of their administrative staff, marketing materials, travel and training and certain recognition events for the sales representatives in their respective downline organizations. Field offices provide a location for conducting recruiting meetings, training events and sales-related meetings, disseminating our Internet-streamed broadcasts, conducting compliance functions, and housing field office business records. Some business locations contain more than one onsite field office.


Our sales-related expenses are largely variable costs that fluctuate with product sales volume. Sales-related expenses consist primarily of sales commissions and incentive programs for our sales representatives, as well as costs associated with information technology, compliance, administrative activities, sales management, and training.
With support provided by our home office staff, RVPs play a major role in training, motivating and monitoring their sales representatives. Because the sales representative’s compensation grows with the productivity of his or her downline organization, our distribution model provides financial rewards to sales representatives who successfully develop, support and monitor productive sales representatives. Furthermore, we have developed proprietary tools and technology to enable our RVPs to reduce the time spent on administrative responsibilities associated with their sales organizations so they can devote more time to the sales and recruiting activities that drive our growth. We believe that our tools and technology, coupled with our bonus and equity incentive award programs, further incentivize our sales representatives to become RVPs.


To encourage our most successful RVPs to build large downline sales organizations that generate strong sales volumes, we established the Primerica Ownership Program. This program provides qualifying RVPs a contractual right, upon meeting certain criteria, to transfer their Primerica businesses to another RVP or transfer it to a qualifying family member.


Both the structure of our sales force and the capacity of our support capabilities provide us with a high degree of scalability as we grow our business. Our support systems and technology are capable of supporting a large sales force and a high volume of transactions. In addition, by sharing training and compliance activities with our RVPs, we are able to grow without incurring proportionate overhead expenses.



   Company Address: 1 Primerica Parkway Duluth 30099 GA
   Company Phone Number: 381-1000   Stock Exchange / Ticker: NYSE PRI
   


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
AJG   -0.44%    
AON   -0.25%    
BRO   -1.04%    
ERIE        0.7% 
TFC   -5.42%    
UNM        2% 
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Product Service News

Charting the Course: Primerica's Insight into Middle-Income America's Financial Equilibrium

Published Wed, Jan 31 2024 5:00 AM UTC

New data paints a portrait of America's middle-income population that raises a dichotomy of perspectives while questioning the validity of the common sentiment of financial pessimism. A recent survey, arriving hot on the heels of the holiday season, suggests that there is a noticeable split among middle-income Americans about the outlook for their personal finances in the ye...

Management Changes

Primerica Promotes Tracy Tan as Chief Financial Officer and Reports Improved ROI in Q3 2023

Published Mon, Dec 18 2023 9:15 PM UTC

Primerica Names Tracy Tan as Chief Financial Officer
DULUTH, Ga. - Primerica, Inc. (NYSE:PRI), a leading provider of financial products and services to middle-income families in the United States and Canada, has announced the promotion of Tracy Tan to the position of Chief Financial Officer, effective December 20, 2023. Ms. Tan, who currently serves as the Executive Vic...

Stock Transactions

Primerica's $425 Million Share Repurchase Program Reflects Confidence in Growth Path

Published Thu, Nov 16 2023 9:15 PM UTC



In a recent press release, Primerica, Inc. (NYSE: PRI) announced a significant milestone in its growth strategy with the authorization of a $425 million share repurchase program. This article will outline the key facts and assess the potential impact of this program on Primerica's shares. As of the writing of this article, Primerica's share price stands at $205.35,...

Primerica Inc

Primerica Inc's Profits Skyrocketed by an Impressive 208.76% During Q3 2023 Earnings Season



Primerica Inc, a leading financial services company, has reported significant improvements in its financial results for the third quarter of 2023. The company's total revenues increased by 6% compared to the same period last year, while net income saw a remarkable jump of 91%. With such impressive numbers, Primerica seems well-positioned for future growth and success.
1. Strong Revenue Growth:
Primerica Inc recorded total revenues of $710.9 million, a 6% increase from the third quarter of 2022. This growth demonstrates the company's ability to generate more revenue and highlights a positive market reception for its products and services. The increase in revenue is a promising sign for Primerica, indicating potential future expansion and market dominance.

Primerica Inc

Primerica Inc Soars to New Heights with a 42.29% Profit Surge in Q2 2023, Unleashing Investor Excitement!

Primerica Inc is a financial services company that primarily operates in the life insurance industry. It offers a range of financial products and services to individuals and families, including life insurance, investments, and debt management solutions. As of the second quarter of 2023, the company has experienced significant growth in various financial aspects, indicating its strong performance in the market.
For the financial period closing on June 30, 2023, Primerica Inc reported a substantial increase in profit per share. Compared to the previous year, the profit per share went up by 42.29%, reaching $3.97 per share, as opposed to $2.79 per share. Net profit per share also experienced a surge of 17.46%, rising from $3.38 per share from the prior financial reporting period to $3.97 per share.






 

Primerica Inc's Segments
 
 
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