Primerica Posts Mixed Q4 Results

Primerica (NYSE: PRI) reported mixed Q4 results, topping revenue estimates and falling short of earnings expectations.

Shares of the insurance, investment, and financial services provider to middle-income families in the United States and Canada have gained 5% over the past year.

Q4 Numbers

Adjusted earnings of $2.94 per share grew 20% year-over-year but lagged analysts’ expectations of $3.22 per share. The company reported earnings of $2.45 per share for the prior-year period.

Revenues jumped 21% year-over-year to $724.1 million and exceeded consensus estimates of $712.73 million.

The increase in revenues reflected a 28% surge in Investment and Savings Products revenues to $247.1 million and an 11% growth in Term Life Insurance revenues to $408.7 million.

CEO Comments

Primerica CEO, Glenn Williams, commented, “Results in our term life insurance and investment businesses were strong, reflecting clients’ continued priority for protection products and investing for the future”.

Wall Street’s Take

The Wall Street community is cautiously optimistic about the stock, with a Moderate Buy consensus rating based on 1 Buy and 2 Holds. The average Primerica price target of $167.67 implies 10.69% upside potential to current levels.

Bloggers Weigh In

TipRanks data shows that financial blogger opinions are 100% Bullish on PRI stock, compared to a sector average of 73%.

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