Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. increased its stake in Palomar Holdings, Inc. (NASDAQ:PLMR) by 36.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 785,419 shares of the company’s stock after acquiring an additional 210,523 shares during the quarter. American Century Companies Inc. owned approximately 2.97% of Palomar worth $82,932,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. purchased a new stake in shares of Palomar during the third quarter worth about $10,994,000. Soros Fund Management LLC acquired a new stake in Palomar in the 3rd quarter worth about $9,467,000. Westfield Capital Management Co. LP increased its stake in Palomar by 24.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 394,408 shares of the company’s stock worth $37,339,000 after buying an additional 77,552 shares in the last quarter. Artemis Investment Management LLP raised its holdings in shares of Palomar by 18.7% during the fourth quarter. Artemis Investment Management LLP now owns 455,082 shares of the company’s stock valued at $48,052,000 after acquiring an additional 71,806 shares during the last quarter. Finally, Trillium Asset Management LLC purchased a new position in shares of Palomar in the fourth quarter valued at approximately $4,599,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Truist Financial boosted their price target on Palomar from $112.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods increased their target price on shares of Palomar from $152.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday. Piper Sandler boosted their price target on shares of Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, JMP Securities reiterated a “market perform” rating on shares of Palomar in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $127.83.

Palomar Trading Up 4.4 %

Palomar stock opened at $134.99 on Tuesday. The stock has a market cap of $3.60 billion, a P/E ratio of 30.13 and a beta of 0.33. The company has a 50-day moving average price of $118.71 and a 200 day moving average price of $107.05. Palomar Holdings, Inc. has a 12-month low of $74.09 and a 12-month high of $136.90.

Palomar (NASDAQ:PLMR) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. As a group, analysts forecast that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Insider Buying and Selling at Palomar

In related news, CEO Mac Armstrong sold 5,000 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $129.72, for a total value of $648,600.00. Following the sale, the chief executive officer now directly owns 402,388 shares in the company, valued at approximately $52,197,771.36. The trade was a 1.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO T Christopher Uchida sold 552 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $123.26, for a total transaction of $68,039.52. Following the transaction, the chief financial officer now directly owns 15,683 shares of the company’s stock, valued at approximately $1,933,086.58. This trade represents a 3.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,455 shares of company stock worth $3,911,340 over the last quarter. 4.30% of the stock is currently owned by company insiders.

Palomar Company Profile

Palomar Holdings, Inc, a specialty insurance company, provides property and casualty insurance to residential and businesses in the United States. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, fronting, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance.