Financial services distributor Primerica's Q3 adjusted EPS beats on investment sales strength

Primerica

Wed 22:07

Overview
US financial services distributor's Q3 revenue rose 7% yr/yr
Adjusted EPS for Q3 rose and beat analyst expectations
Company returned $159 mln to shareholders via buybacks and dividends

Outlook
Company did not provide specific financial guidance for upcoming quarters or full year in the press release

Result Drivers
INVESTMENT SALES GROWTH - Co said record investment and savings product sales and higher client asset values, supported by strong client demand, expanded offerings, and favorable equity markets, drove results
TERM LIFE STABILITY - Co said stable earnings in its Term Life segment contributed to overall performance, supported by its large in-force policy block
ACTUARIAL ASSUMPTION CHANGES - Qtr included impact from annual actuarial assumption changes, which affected segment results

Company press release: ID:nBw7BhP64a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Adjusted EPS
Beat
$6.77
$6.38 (8 Analysts)
Q3 EPS
 
$6.76
 
Q3 Net Income
 
$209.13 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 6 "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 $318.00, about 13.5% above its November 3 closing price of $280.23
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 12 three months ago

Reuters Recommended Reads
Nov 2 - Equitable Holdings Q3 adjusted EPS jumps 44%, beats estimates
Nov 2 - Voya Financial Q3 adjusted EPS beats estimates; boosts dividend, buyback
Nov 3 - Jackson Financial Q3 retail annuity sales rise 22%, hitting record

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)