American Century Companies Inc. Grows Holdings in Primerica, Inc. $PRI

Key Points

• American Century Companies Inc. increased its stake in Primerica, Inc. by 20.1%, acquiring an additional 15,841 shares to own a total of 94,670 shares valued at approximately $26.9 million as of the last quarter.
• The company recently declared a quarterly dividend of $1.04 per share, translating to an annualized yield of 1.5% and a payout ratio of 20.55%.
• While analysts have mixed ratings, the consensus target price for Primerica stands at $315.29, with two analysts rating it as a Buy and five as a Hold.

American Century Companies Inc. grew its position in Primerica, Inc. (NYSE:PRI - Free Report) by 20.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 94,670 shares of the financial services provider's stock after buying an additional 15,841 shares during the period. American Century Companies Inc. owned approximately 0.29% of Primerica worth $26,936,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PRI. Mariner LLC lifted its position in Primerica by 1.4% in the 4th quarter. Mariner LLC now owns 2,611 shares of the financial services provider's stock valued at $709,000 after acquiring an additional 36 shares in the last quarter. HB Wealth Management LLC boosted its stake in Primerica by 1.9% in the 1st quarter. HB Wealth Management LLC now owns 2,088 shares of the financial services provider's stock worth $594,000 after purchasing an additional 38 shares during the period. Applied Finance Capital Management LLC boosted its stake in Primerica by 5.3% in the 1st quarter. Applied Finance Capital Management LLC now owns 839 shares of the financial services provider's stock worth $239,000 after purchasing an additional 42 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in Primerica by 1.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,095 shares of the financial services provider's stock worth $881,000 after purchasing an additional 44 shares during the period. Finally, Xponance Inc. boosted its stake in Primerica by 1.2% in the 1st quarter. Xponance Inc. now owns 3,945 shares of the financial services provider's stock worth $1,122,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 90.88% of the company's stock.

Insider Activity

In other news, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total transaction of $655,500.00. Following the completion of the transaction, the chief executive officer directly owned 36,392 shares in the company, valued at $9,541,982.40. This trade represents a 6.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a research report on Monday, August 11th. Jefferies Financial Group lowered their price target on shares of Primerica from $293.00 to $283.00 and set a "hold" rating on the stock in a report on Monday, August 11th. Finally, Morgan Stanley increased their price target on shares of Primerica from $292.00 to $308.00 and gave the company an "equal weight" rating in a report on Monday, August 18th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Primerica presently has a consensus rating of "Hold" and an average target price of $315.29.

Primerica Stock Down 0.9%

Shares of PRI stock traded down $2.38 during trading hours on Thursday, hitting $267.23. 14,589 shares of the company's stock traded hands, compared to its average volume of 168,616. The stock has a market cap of $8.66 billion, a PE ratio of 13.21 and a beta of 0.99. The stock's 50 day simple moving average is $266.16 and its 200 day simple moving average is $269.73. Primerica, Inc. has a 12 month low of $230.98 and a 12 month high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.18 by $0.28. The firm had revenue of $796.02 million during the quarter, compared to analysts' expectations of $790.99 million. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The business's revenue was up .3% on a year-over-year basis. During the same period last year, the company earned $4.71 earnings per share. As a group, equities research analysts expect that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 22nd will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, August 22nd. Primerica's dividend payout ratio (DPR) is currently 20.55%.

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.