American Century Maintains Passive Stake in First Bancorp/PR

TL;DR

**American Century still owns a chunk of First Bancorp, good sign for stability.**

AI Summary

American Century Investment Management, Inc. filed an amended SC 13G/A on February 12, 2024, indicating their ownership of Common Stock in FIRST BANCORP./PUERTO RICO as of December 31, 2023. This filing, an amendment to a previous disclosure, signals that American Century Investment Management continues to hold a significant, though potentially adjusted, passive stake in the Puerto Rican bank. For investors, this means a major institutional investor maintains confidence in FIRST BANCORP., which could be a positive signal for the stock's stability and long-term prospects.

Why It Matters

This filing shows a major institutional investor, American Century Investment Management, Inc., continues to hold a significant position in FIRST BANCORP./PUERTO RICO, signaling their ongoing confidence in the company.

Risk Assessment

Risk Level: low — This is an amendment to a passive ownership filing, indicating no immediate change in control or significant new risks.

Analyst Insight

An investor might view American Century's continued passive ownership as a sign of stability for FIRST BANCORP./PUERTO RICO, suggesting the stock could be a reliable long-term hold rather than a short-term speculative play.

Key Players & Entities

• American Century Investment Management, Inc. (company) — the reporting person and institutional investor
• FIRST BANCORP./PUERTO RICO (company) — the issuer whose securities are being reported
• Delaware (company) — state of incorporation for American Century Investment Management, Inc.
• December 31, 2023 (date) — the date of the event requiring the filing
• February 12, 2024 (date) — the filing date of the SC 13G/A amendment

Forward-Looking Statements

• American Century Investment Management, Inc. will maintain a significant, passive stake in FIRST BANCORP./PUERTO RICO throughout 2024. (American Century Investment Management, Inc.) — medium confidence, target: 2024-12-31

FAQ

Filing Documents

• firstbancorppr13g-a1.htm (SC 13G/A) — 80KB
• image_5.jpg (GRAPHIC) — 0KB
• 0000052388-24-000113.txt ( ) — 82KB

If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a

Item 3. If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a 1) American Century Investment Management, Inc. is an investment adviser in accordance with 240.13d-1(b)(1)(ii)(E). 2) American Century Companies, Inc. is a parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G). 3) Stowers Institute for Medical Research is a parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G).

Ownership

Item 4. Ownership. Reference is made to Items 5-9 and 11 on the cover page of this filing.

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following X

Ownership of More than Five Percent on Behalf of Another Person

Item 6. Ownership of More than Five Percent on Behalf of Another Person. Various persons, including the investment companies and separate institutional investor accounts that American Century Investment Management, Inc. ("ACIM") serves as investment adviser, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities that are the subject of this schedule. Except as may be otherwise indicated if this is a joint filing, not more than 5% of the class of securities that is the subject of this schedule is owned by any one client advised by ACIM. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person. See attached Exhibit A.

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group. Not applicable.

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group Not applicable Page 6 of 8 Pages

Certification

Item 10. Certification By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated this 9th day of February, 2024. AMERICAN CENTURY INVESTMENT MANAGEMENT, INC. ("ACIM") AMERICAN CENTURY COMPANIES, INC. ("ACC") By __ s John Pak __________________________ John Pak Senior Vice President, ACIM and ACC STOWERS INSTITUTE FOR MEDICAL RESEARCH, solely in its capacity as control entity of ACC By __ s Richard W. Brown ____________________ Richard W. Brown Chairman SCHEDULE 13G – To be included in statements filed pursuant to Rule 13d-1(b) or 13d-2(b). EXHIBIT A This Exhibit has been prepared to identify each subsidiary of American Century Companies, Inc. ("ACC"), which is controlled by the Stowers Institute for Medical Research, that is a beneficial owner of securities that are the subject of this schedule (the "Subject Securities"). American Century Investment Management, Inc. ("ACIM") is a wholly-owned subsidiary of ACC and an investment adviser registered under 203 of the Investment Advisers Act of 1940. SCHEDULE 13G – To be included in statements filed pursuant to Rule 13d-1(b) or 13d-2(b) and Rule 13d-1(f) (1) Agreement. Page 7 of 8 Pages EXHIBIT B Each of the undersigned hereby agrees and consents to the execution and joint filing on its behalf by American Century Investment Management, Inc. of this Schedule 13G respecting the beneficial ownership of the securities which are the subject of t