Morgan Stanley Analyst Reduces Primerica, Inc. (PRI)’s Price Target In Response To Q3 Results

Core Insights - Primerica, Inc. (NYSE:PRI) is recognized as one of the best life insurance stocks to buy currently [1] - Analyst sentiment is cautious, with only 40% recommending a Buy, despite a projected 20% upside based on a median price target of $303 [2] Financial Performance - For Q3 2025, Primerica reported adjusted net operating income of $206 million, reflecting a 7% year-over-year increase, and an 11% rise in EPS to $6.33 [4] - The Investment and Savings Products (ISP) category achieved record sales of $3.7 billion, a 28% increase year-over-year, with net inflows of $363 million and customer assets growing by 14% to $127 billion [4] - Management anticipates ISP sales to increase by approximately 20% throughout 2025 due to favorable equity markets and ongoing momentum [4] Analyst Adjustments - Morgan Stanley analyst Bob Huang reduced the price target for Primerica from $306 to $301, maintaining an Equal Weight rating [3] - Adjustments to insurance-sector models were made in response to Q3 results, indicating a slowing cycle in property and casualty trends into 2026, while life-insurance earnings exceeded expectations [3] Share Repurchase Program - Primerica's Board of Directors authorized a $475 million share repurchase program effective until December 31, 2026, motivated by the company's financial strength [5] - The repurchase may occur through various methods depending on market conditions and legal requirements [5] Company Overview - Primerica, Inc. provides financial services primarily to middle-income households in the U.S. and Canada, distributing products such as annuities, mutual funds, and life insurance on behalf of third parties [6]