Primerica, Inc. (NYSE:PRI) Position Boosted by American Century Companies Inc.

American Century Companies Inc. boosted its holdings in Primerica, Inc. (NYSE:PRI) by 10.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,829 shares of the financial services provider’s stock after acquiring an additional 7,298 shares during the quarter. American Century Companies Inc. owned 0.24% of Primerica worth $21,396,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Dana Investment Advisors Inc. increased its holdings in shares of Primerica by 1.2% during the fourth quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider’s stock valued at $1,012,000 after purchasing an additional 45 shares during the period. CIBC Asset Management Inc increased its stake in Primerica by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 1,108 shares of the financial services provider’s stock valued at $301,000 after buying an additional 54 shares during the period. Assetmark Inc. raised its position in shares of Primerica by 3.9% during the 4th quarter. Assetmark Inc. now owns 1,518 shares of the financial services provider’s stock worth $412,000 after buying an additional 57 shares in the last quarter. Everhart Financial Group Inc. lifted its stake in shares of Primerica by 2.5% in the 4th quarter. Everhart Financial Group Inc. now owns 2,676 shares of the financial services provider’s stock worth $726,000 after acquiring an additional 65 shares during the period. Finally, Allworth Financial LP boosted its holdings in shares of Primerica by 27.3% in the fourth quarter. Allworth Financial LP now owns 331 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 71 shares in the last quarter. Institutional investors own 90.88% of the company’s stock.

Insiders Place Their Bets

In related news, insider Nicholas Adam Jendusa sold 234 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total value of $65,555.10. Following the transaction, the insider now directly owns 200 shares in the company, valued at approximately $56,030. This trade represents a 53.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the completion of the transaction, the president now owns 13,301 shares in the company, valued at $3,762,852.90. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock valued at $1,476,575 over the last ninety days. Corporate insiders own 0.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PRI shares. Keefe, Bruyette & Woods upped their target price on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Piper Sandler dropped their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Morgan Stanley reduced their price objective on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Finally, BMO Capital Markets assumed coverage on shares of Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $309.86.

Primerica Trading Down 2.3 %

Shares of Primerica stock opened at $283.34 on Monday. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $307.91. The stock has a 50-day moving average price of $286.37 and a 200 day moving average price of $281.97. The company has a market cap of $9.42 billion, a P/E ratio of 20.61 and a beta of 1.12.

Primerica (NYSE:PRI) last issued its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. On average, equities analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were paid a $1.04 dividend. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 1.47%. Primerica’s payout ratio is 30.25%.

About Primerica

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.