UBS Maintains a 'Neutral' on Primerica (PRI); 3Q11 Reflects Continued Strong Recruiting

UBS maintains a 'Neutral' on Primerica (NYSE: PRI) price target raised $1 to $23.

UBS analyst says, "Sales rep count down (5)% y/y, but recruiting momentum has picked up - Sales rep count fell (5)% y/y to 91,970. But, new recruits rose 43% y/y to 83,074, as the convention in June and discount on application fees (from $99 to $50) thru July drove record recruiting. Newly licensed reps up 10% y/y, lagged recruiting gains on a lower licensing pull-through rate that typically follows recruiting surges."

For more ratings news on Primerica click here and for the rating history of Primerica click here.

Shares of Primerica closed at $21.74 yesterday.

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