American Century Companies Inc. Has $49.14 Million Stock Position in Palomar Holdings, Inc. $PLMR

American Century Companies Inc. decreased its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 50.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 420,901 shares of the company’s stock after selling 425,411 shares during the quarter. American Century Companies Inc. owned 1.57% of Palomar worth $49,140,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Salomon & Ludwin LLC acquired a new position in shares of Palomar in the 3rd quarter valued at $25,000. Richardson Financial Services Inc. raised its position in Palomar by 210.0% in the third quarter. Richardson Financial Services Inc. now owns 217 shares of the company’s stock worth $25,000 after purchasing an additional 147 shares in the last quarter. Allworth Financial LP lifted its stake in Palomar by 1,970.0% during the second quarter. Allworth Financial LP now owns 207 shares of the company’s stock worth $32,000 after purchasing an additional 197 shares during the period. Clearstead Advisors LLC boosted its holdings in Palomar by 31.0% during the third quarter. Clearstead Advisors LLC now owns 397 shares of the company’s stock valued at $46,000 after purchasing an additional 94 shares in the last quarter. Finally, Hollencrest Capital Management grew its stake in shares of Palomar by 56.5% in the 2nd quarter. Hollencrest Capital Management now owns 313 shares of the company’s stock valued at $48,000 after purchasing an additional 113 shares during the period. Institutional investors own 90.25% of the company’s stock.

Analyst Ratings Changes

PLMR has been the topic of several analyst reports. Evercore initiated coverage on shares of Palomar in a report on Monday, February 9th. They issued an “outperform” rating and a $150.00 target price on the stock. JPMorgan Chase & Co. upped their price objective on shares of Palomar from $155.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Keefe, Bruyette & Woods lifted their target price on shares of Palomar from $170.00 to $171.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Weiss Ratings upgraded Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, January 14th. Finally, Wall Street Zen cut Palomar from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $163.00.

Insider Transactions at Palomar

In other Palomar news, CEO Mac Armstrong sold 11,484 shares of Palomar stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $119.88, for a total transaction of $1,376,701.92. Following the completion of the transaction, the chief executive officer directly owned 91,737 shares of the company’s stock, valued at $10,997,431.56. The trade was a 11.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Jon Christianson sold 1,991 shares of the company’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $119.88, for a total transaction of $238,681.08. Following the completion of the transaction, the president owned 62,985 shares in the company, valued at approximately $7,550,641.80. This trade represents a 3.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 58,999 shares of company stock worth $7,253,229 in the last three months. Insiders own 3.70% of the company’s stock.

Palomar Stock Up 2.2%

Shares of Palomar stock opened at $127.11 on Friday. The business has a fifty day simple moving average of $127.68 and a 200 day simple moving average of $123.31. The stock has a market cap of $3.39 billion, a PE ratio of 17.70 and a beta of 0.46. Palomar Holdings, Inc. has a 12 month low of $107.75 and a 12 month high of $175.85.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.18. The company had revenue of $253.36 million during the quarter, compared to analyst estimates of $204.58 million. Palomar had a net margin of 22.50% and a return on equity of 22.77%. During the same quarter in the previous year, the business earned $1.52 EPS. The firm’s revenue was up 62.7% on a year-over-year basis. Analysts expect that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Palomar Profile

Palomar Holdings, Inc (NASDAQ: PLMR) is a specialty insurance holding company focused on providing medical stop-loss coverage and related administrative services to self-funded employer health plans in the United States. The firm operates through two primary business segments—Medical Stop-Loss and Specialty Program Management—to deliver tailored risk protection and comprehensive program administration.

In its Medical Stop-Loss segment, Palomar underwrites excess and aggregate stop-loss policies designed to shield self-insured employers from catastrophic medical claims that exceed pre-determined retention levels.