Overview

• Financial services provider's adjusted operating EPS rises 22% yr/yr

• Company authorized new $475 mln share repurchase program through 2026

Outlook

• Company authorized a $475 mln share repurchase program through 2026

• Company increased quarterly dividend by 15% to $1.20 per share

Result Drivers

• ISP SALES GROWTH - Record ISP sales up 24% and client asset values increased 15%, driven by strong demand and favorable equity markets

• TERM LIFE STABILITY - Term Life segment saw continued earnings growth with direct premiums up 2% and adjusted direct premiums up 4%

• SALES FORCE STRENGTH - CEO Glenn Williams emphasized the strength of the sales force and commitment to serving middle-income families

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", 5 "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 $306.00, about 15.5% above its February 10 closing price of $264.97

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

Press Release: ID:nBw8fmGMGa

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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.)