Primerica (PRI)
Underwrites term life insurance and distributes outside investment products through a nationwide network of independent representatives.
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In-house term life insurance and third-party mutual funds and annuities move through the same distribution engine: a large independent sales force selling mostly to friends, family, and acquaintances in middle-income households across the United States and Canada, with most policy mortality risk reinsured to outside carriers.
Term life insurance is underwritten in-house, while mutual funds and annuities are sourced from outside providers and distributed through the company's own broker-dealer subsidiaries. Both lines still follow the founding idea of steering households toward inexpensive term coverage and separately invested savings instead of costlier cash-value policies.
Both businesses move through a single channel: a large independent sales force, recruited by existing representatives and paid on commission, that sells mainly to friends, family, and personal acquaintances. The target client sits in a middle-income band that wirehouses and traditional broker-dealers rarely serve face-to-face, and operations span the United States and Canada.
Most mortality risk on term policies is ceded through reinsurance, and the business runs under overlapping insurance and securities regulation in both countries, with recurring litigation tied to treating its sales force as independent contractors rather than employees.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 27, 2026 | Truist Financial | Target | Target: $240 | Target: $320 |
| Aug 27, 2026 | Truist Securities | Downgrade | ||
| Aug 24, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $291 | Target: $316 |
| Jul 10, 2026 | Jefferies | Reiterate | Rating: —Target: $239 | Target: $268 |
| May 21, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $292 | Target: $291 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $605.1M · Total debt $642.6M · Total assets $14.78B · Shareholders' equity $2.52B
- Revenue
- $865.1M
- Operating income
- $258.2M
- Net income
- $202.3M
HistoryDividendAnnual yield
| Institutions | 95.91% | 29.52M shares | |
|---|---|---|---|
| 532 holders · as of Jun 30, 2026 | |||
| Insiders | 0.54% | 166.3K shares | |
| 14 holders · as of Sep 16, 2026 | |||
| Other | 3.55% | 1.09M shares | |
| remainder | |||
30.78M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 9.70% | 2.98M | as of Jun 30, 2026 |
FMR LLCInstitution | 9.17% | 2.82M | as of Jun 30, 2026 |
Kayne Anderson Rudnick Investment Management LLCInstitution | 9.00% | 2.77M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.97% | 1.84M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.60% | 1.41M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 17, 2026 | Peter W. Schneider | officer: President | −1,800 | $312.65 |
| Aug 11, 2026 | Amber Lynne Cottle | director | −279 | $313.63 |
| Aug 10, 2026 | Glenn J. Williams | director, officer: Chief Executive Officer | −1,500 | $320.20 |
| Jun 12, 2026 | Glenn J. Williams | director, officer: Chief Executive Officer | −1,500 | $280.49 |
| May 18, 2026 | Peter W. Schneider | officer: President | −1,800 | $279.64 |
- Globe Life
Direct rival in term and whole life for lower- to middle-income households
- MetLife
Scale rival via group life and legacy retail life/annuity books
- Prudential Financial
Broad-line rival in individual life insurance and retirement income
- LPL Financial
Largest independent broker-dealer, rival channel for retail investors
- Lincoln Financial
Life and annuity rival that also supplies annuities as a partner
- Ameriprise Financial
Advisor-based rival skewed to a wealthier client segment
- Corebridge Financial
Annuity rival that is also a shelf-product supplier
- Aegon (ADR)
Owner of the only comparable multi-level agent-recruiting distributor
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Primerica | $280.13 | −1.88% | $8.90B | 11.5 | 10.8 | 2.6 | +9.0% |
| Globe Life | $169.95 | −1.28% | $13.37B | 11.4 | 10.2 | 2.2 | +8.0% |
| MetLife | $95.72 | −0.96% | $62.18B | 18.5 | 9.1 | 0.8 | +10.0% |
| Prudential Financial | $117.13 | −1.18% | $41.13B | 10.7 | 8.3 | 0.6 | +2.8% |
| LPL Financial | $308.76 | −7.07% | $26.58B | 26.5 | 11.4 | 1.4 | +35.2% |
| Lincoln Financial | $41.04 | −1.54% | $7.98B | 3.5 | 5.0 | 0.4 | +21.2% |
| Ameriprise Financial | $511.55 | −4.51% | $48.16B | 12.9 | 10.4 | 2.4 | +14.6% |
| Corebridge Financial | $34.08 | −2.08% | $15.51B | 20.4 | 6.6 | 1.7 | +482.9% |
| Aegon (ADR) | $8.94 | −1.71% | $13.67B | 12.2 | — | 0.5 | +3.8% |
| Median | 12.6 | 9.1 | 1.1 | +12.3% |