American Century Companies Inc. Buys 6,671 Shares of Primerica, Inc. (NYSE:PRI)

American Century Companies Inc. lifted its holdings in shares of Primerica, Inc. (NYSE:PRI) by 13.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,349 shares of the financial services provider’s stock after purchasing an additional 6,671 shares during the period. American Century Companies Inc. owned 0.15% of Primerica worth $9,706,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Commonwealth Equity Services LLC boosted its position in shares of Primerica by 2.7% during the 1st quarter. Commonwealth Equity Services LLC now owns 2,281 shares of the financial services provider’s stock valued at $393,000 after purchasing an additional 59 shares in the last quarter. Citigroup Inc. boosted its position in shares of Primerica by 6.1% during the 1st quarter. Citigroup Inc. now owns 5,470 shares of the financial services provider’s stock valued at $942,000 after purchasing an additional 315 shares in the last quarter. Harvest Fund Management Co. Ltd raised its stake in Primerica by 350.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 329 shares of the financial services provider’s stock worth $57,000 after buying an additional 256 shares during the period. Prescott Group Capital Management L.L.C. acquired a new position in Primerica during the 1st quarter worth approximately $2,402,000. Finally, Oppenheimer Asset Management Inc. raised its stake in Primerica by 138.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,299 shares of the financial services provider’s stock worth $740,000 after buying an additional 2,497 shares during the period. Institutional investors own 90.56% of the company’s stock.

Insider Activity at Primerica

In other Primerica news, Director John A. Jr. Addison sold 1,700 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $189.95, for a total transaction of $322,915.00. Following the transaction, the director now owns 18,087 shares in the company, valued at approximately $3,435,625.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, President Peter W. Schneider sold 2,000 shares of the stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $192.19, for a total value of $384,380.00. Following the completion of the sale, the president now directly owns 13,024 shares in the company, valued at $2,503,082.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John A. Jr. Addison sold 1,700 shares of the stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $189.95, for a total transaction of $322,915.00. Following the completion of the sale, the director now owns 18,087 shares of the company’s stock, valued at $3,435,625.65. The disclosure for this sale can be found here. Insiders have sold a total of 18,200 shares of company stock valued at $3,637,960 over the last quarter. 0.87% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Morgan Stanley increased their price objective on Primerica from $171.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Friday, August 18th. StockNews.com began coverage on Primerica in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Finally, Truist Financial lifted their price objective on Primerica from $240.00 to $260.00 in a report on Wednesday, August 9th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Primerica currently has an average rating of “Moderate Buy” and a consensus target price of $221.00.

Primerica Stock Performance

Shares of Primerica stock opened at $204.46 on Monday. The company has a market capitalization of $7.31 billion, a P/E ratio of 16.68 and a beta of 1.18. The company has a fifty day moving average of $205.28 and a 200 day moving average of $188.06. Primerica, Inc. has a fifty-two week low of $120.18 and a fifty-two week high of $220.00.

Primerica (NYSE:PRI) last released its quarterly earnings data on Monday, August 7th. The financial services provider reported $3.99 EPS for the quarter, beating the consensus estimate of $3.81 by $0.18. The business had revenue of $688.40 million during the quarter, compared to the consensus estimate of $704.91 million. Primerica had a net margin of 16.55% and a return on equity of 28.48%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.86 EPS. Analysts forecast that Primerica, Inc. will post 15.63 EPS for the current year.

Primerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Monday, August 21st will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Friday, August 18th. Primerica’s payout ratio is 21.21%.

About Primerica

Primerica, Inc, together with its subsidiaries, provides financial products 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. The Term Life Insurance segment underwrites individual term life insurance products.