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

American Century Companies Inc. raised its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 36.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 785,419 shares of the company’s stock after acquiring an additional 210,523 shares during the quarter. American Century Companies Inc.’s holdings in Palomar were worth $82,932,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Blue Trust Inc. acquired a new position in shares of Palomar in the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC grew its stake in shares of Palomar by 536.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 414 shares of the company’s stock worth $43,000 after acquiring an additional 349 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Palomar by 63.2% in the fourth quarter. Jones Financial Companies Lllp now owns 493 shares of the company’s stock worth $52,000 after acquiring an additional 191 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Palomar by 21.8% in the fourth quarter. Farther Finance Advisors LLC now owns 554 shares of the company’s stock valued at $58,000 after acquiring an additional 99 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Palomar by 44.9% in the fourth quarter. KBC Group NV now owns 1,045 shares of the company’s stock valued at $110,000 after acquiring an additional 324 shares in the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Palomar Stock Up 4.4 %

PLMR stock opened at $134.99 on Tuesday. The business has a 50 day moving average price of $118.71 and a 200 day moving average price of $107.05. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 30.13 and a beta of 0.33. Palomar Holdings, Inc. has a fifty-two week low of $74.09 and a fifty-two week high of $136.90.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.37 earnings per share for the quarter, topping 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, sell-side analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Analyst Ratings Changes

PLMR has been the topic of several recent research reports. JMP Securities restated a “market perform” rating on shares of Palomar in a report on Thursday, February 13th. Keefe, Bruyette & Woods raised their target price on shares of Palomar from $152.00 to $155.00 and gave the company an “outperform” rating in a report on Friday. Truist Financial lifted their price target on shares of Palomar from $112.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, Piper Sandler increased their price objective on shares of Palomar from $133.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $127.83.

Insider Buying and Selling at Palomar

In related news, President Jon Christianson sold 819 shares of the company’s stock in a transaction dated Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total value of $86,699.34. Following the completion of the sale, the president now directly owns 55,126 shares of the company’s stock, valued at $5,835,638.36. This represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Angela L. Grant sold 1,505 shares of Palomar stock in a transaction that occurred on Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total value of $159,319.30. Following the transaction, the insider now directly owns 2,534 shares in the company, valued at approximately $268,249.24. This trade represents a 37.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,455 shares of company stock worth $3,911,340 over the last 90 days. Corporate insiders own 4.30% of the company’s stock.

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.