American Century Companies Inc. Purchases 7,298 Shares of Primerica, Inc. (NYSE:PRI)

American Century Companies Inc. grew its position in Primerica, Inc. (NYSE:PRI) by 10.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 78,829 shares of the financial services provider’s stock after buying an additional 7,298 shares during the period. American Century Companies Inc.’s holdings in Primerica were worth $21,396,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC increased its stake in Primerica by 3.9% in the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after acquiring an additional 25,951 shares during the period. Raymond James Financial Inc. acquired a new stake in Primerica during the fourth quarter valued at approximately $34,191,000. Los Angeles Capital Management LLC grew its stake in shares of Primerica by 10.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider’s stock valued at $32,573,000 after purchasing an additional 11,612 shares during the period. Stifel Financial Corp raised its holdings in shares of Primerica by 0.5% in the 3rd quarter. Stifel Financial Corp now owns 63,984 shares of the financial services provider’s stock worth $16,965,000 after buying an additional 333 shares in the last quarter. Finally, Running Oak Capital LLC lifted its position in shares of Primerica by 3.7% during the 4th quarter. Running Oak Capital LLC now owns 53,644 shares of the financial services provider’s stock worth $14,560,000 after buying an additional 1,919 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

Analysts Set New Price Targets

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

Primerica Stock Down 2.3 %

Shares of PRI stock opened at $283.34 on Monday. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91. The firm has a fifty day moving average of $286.37 and a 200-day moving average of $281.97. The firm has a market capitalization of $9.42 billion, a price-to-earnings ratio of 20.61 and a beta of 1.12.

Primerica (NYSE:PRI) last released its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, beating 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%. Research analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors 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 positive change 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 dividend payout ratio is presently 30.25%.

Insiders Place Their Bets

In other news, President Peter W. Schneider sold 2,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the transaction, the president now directly owns 13,301 shares in the company, valued at $3,762,852.90. This represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the sale, the insider now owns 200 shares in the company, valued at $56,030. The trade was a 53.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,234 shares of company stock worth $1,476,575. Corporate insiders own 0.85% of the company’s stock.

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.