American Century Companies Inc. Has $15.65 Million Holdings in Primerica, Inc. (NYSE:PRI)

American Century Companies Inc. boosted its position in shares of Primerica, Inc. (NYSE:PRI) by 13.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,152 shares of the financial services provider’s stock after buying an additional 7,708 shares during the period. American Century Companies Inc. owned approximately 0.19% of Primerica worth $15,650,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Janney Montgomery Scott LLC increased its stake in shares of Primerica by 2.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 9,405 shares of the financial services provider’s stock valued at $1,935,000 after purchasing an additional 246 shares during the last quarter. Norges Bank bought a new position in Primerica in the 4th quarter valued at approximately $31,194,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Primerica in the fourth quarter valued at approximately $442,000. Corient Private Wealth LLC grew its stake in shares of Primerica by 12.4% during the fourth quarter. Corient Private Wealth LLC now owns 8,731 shares of the financial services provider’s stock worth $1,796,000 after buying an additional 961 shares during the last quarter. Finally, Assetmark Inc. grew its stake in shares of Primerica by 30.9% during the fourth quarter. Assetmark Inc. now owns 882 shares of the financial services provider’s stock worth $181,000 after buying an additional 208 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $252.55, for a total value of $757,650.00. Following the transaction, the chief executive officer now directly owns 45,322 shares of the company’s stock, valued at approximately $11,446,071.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Monday, August 12th. The shares were sold at an average price of $252.55, for a total value of $757,650.00. Following the completion of the sale, the chief executive officer now owns 45,322 shares in the company, valued at approximately $11,446,071.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Peter W. Schneider sold 1,500 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the transaction, the president now owns 10,259 shares in the company, valued at approximately $2,678,727.49. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,500 shares of company stock worth $1,657,015. Company insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

PRI has been the subject of a number of research reports. Jefferies Financial Group increased their price target on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Morgan Stanley upped their price objective on Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Keefe, Bruyette & Woods lifted their target price on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 17th. Finally, Truist Financial boosted their target price on shares of Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Primerica presently has an average rating of “Hold” and a consensus price target of $275.20.

Primerica Price Performance

Primerica stock opened at $258.49 on Friday. The stock’s 50 day moving average is $254.26 and its 200 day moving average is $240.06. Primerica, Inc. has a one year low of $184.76 and a one year high of $265.27. The firm has a market cap of $8.74 billion, a P/E ratio of 15.73 and a beta of 1.09.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.24. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The firm had revenue of $803.38 million for the quarter, compared to the consensus estimate of $748.88 million. During the same quarter in the previous year, the company earned $3.99 EPS. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. Equities analysts anticipate that Primerica, Inc. will post 17.94 earnings per share for the current fiscal year.

Primerica Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.60 dividend on an annualized basis and a yield of 1.39%. This is a boost from Primerica’s previous quarterly dividend of $0.75. Primerica’s dividend payout ratio is 21.91%.

Primerica Profile

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.