American Century Companies Inc. Grows Stock Position in Primerica, Inc. (NYSE:PRI)

American Century Companies Inc. grew its position in Primerica, Inc. (NYSE:PRI - Free Report) by 10.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,829 shares of the financial services provider's stock after buying 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.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Dana Investment Advisors Inc. grew its stake in Primerica by 1.2% in the 4th quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider's stock valued at $1,012,000 after acquiring an additional 45 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Primerica by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 1,108 shares of the financial services provider's stock worth $301,000 after purchasing an additional 54 shares in the last quarter. 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 purchasing an additional 57 shares during the last quarter. Everhart Financial Group Inc. lifted its stake in Primerica by 2.5% in the 4th quarter. Everhart Financial Group Inc. now owns 2,676 shares of the financial services provider's stock valued at $726,000 after buying an additional 65 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in Primerica by 27.3% during the 4th quarter. Allworth Financial LP now owns 331 shares of the financial services provider's stock valued at $97,000 after buying an additional 71 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company's stock.

Analyst Upgrades and Downgrades

PRI has been the subject of a number of analyst reports. StockNews.com cut Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. Morgan Stanley cut their target price on shares of Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. BMO Capital Markets began coverage on shares of Primerica in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 price objective for the company. Piper Sandler decreased their target price 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. Finally, Keefe, Bruyette & Woods boosted their price target on Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Primerica has an average rating of "Hold" and a consensus price target of $309.86.

Insider Transactions at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the sale, the chief executive officer now directly owns 33,322 shares in the company, valued at $9,388,140.28. The trade was a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the sale, the president now directly owns 13,301 shares of the company's stock, valued at $3,762,852.90. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,234 shares of company stock worth $1,476,575. 0.61% of the stock is currently owned by company insiders.

Primerica Price Performance

NYSE:PRI traded down $15.48 during trading hours on Thursday, reaching $275.14. 406,286 shares of the company were exchanged, compared to its average volume of 166,957. The firm has a market cap of $9.15 billion, a price-to-earnings ratio of 20.01 and a beta of 1.12. The stock has a 50 day simple moving average of $285.75 and a 200 day simple moving average of $282.44. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $307.91.

Primerica (NYSE:PRI - Get Free Report) 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, analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were paid a $1.04 dividend. This is a positive change from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Friday, February 21st. Primerica's payout ratio is currently 30.25%.

Primerica Company 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.