American Century Companies Inc. Has $36.22 Million Stake in Palomar Holdings, Inc. (NASDAQ:PLMR)

American Century Companies Inc. reduced its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 11.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 446,267 shares of the company's stock after selling 57,053 shares during the period. American Century Companies Inc. owned about 1.79% of Palomar worth $36,215,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PLMR. International Assets Investment Management LLC bought a new position in shares of Palomar in the 2nd quarter worth $49,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Palomar in the 1st quarter valued at about $59,000. Advisors Asset Management Inc. lifted its holdings in shares of Palomar by 137.1% in the 1st quarter. Advisors Asset Management Inc. now owns 735 shares of the company's stock valued at $62,000 after buying an additional 425 shares during the period. Atwood & Palmer Inc. raised its holdings in Palomar by 66.7% in the 1st quarter. Atwood & Palmer Inc. now owns 750 shares of the company's stock worth $63,000 after purchasing an additional 300 shares during the period. Finally, Covestor Ltd raised its holdings in Palomar by 29.0% in the 1st quarter. Covestor Ltd now owns 1,183 shares of the company's stock worth $99,000 after purchasing an additional 266 shares during the period. 90.25% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Mac Armstrong sold 12,773 shares of the firm's stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $88.19, for a total transaction of $1,126,450.87. Following the transaction, the chief executive officer now owns 59,309 shares in the company, valued at $5,230,460.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO T Christopher Uchida sold 1,000 shares of Palomar stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $80.32, for a total value of $80,320.00. Following the completion of the sale, the chief financial officer now owns 24,094 shares of the company's stock, valued at approximately $1,935,230.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mac Armstrong sold 12,773 shares of Palomar stock in a transaction on Monday, July 15th. The stock was sold at an average price of $88.19, for a total transaction of $1,126,450.87. Following the completion of the transaction, the chief executive officer now owns 59,309 shares in the company, valued at approximately $5,230,460.71. The disclosure for this sale can be found here. Insiders have sold a total of 51,500 shares of company stock worth $4,588,146 over the last quarter. 4.30% of the stock is owned by company insiders.

Palomar Price Performance

PLMR traded down $0.88 during trading on Wednesday, hitting $96.89. The company's stock had a trading volume of 90,939 shares, compared to its average volume of 163,972. The firm's 50 day moving average price is $93.11 and its 200-day moving average price is $85.31. The stock has a market cap of $2.41 billion, a PE ratio of 27.84 and a beta of 0.34. Palomar Holdings, Inc. has a twelve month low of $48.08 and a twelve month high of $100.29.

Palomar (NASDAQ:PLMR - Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The company reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.16. Palomar had a net margin of 21.63% and a return on equity of 20.83%. The firm had revenue of $123.08 million during the quarter, compared to analysts' expectations of $338.74 million. During the same period in the prior year, the company earned $0.72 EPS. The firm's revenue was up 47.0% on a year-over-year basis. Equities analysts anticipate that Palomar Holdings, Inc. will post 4.37 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Palomar from $88.00 to $91.00 and gave the company a "neutral" rating in a report on Thursday, July 11th. Truist Financial raised their price target on Palomar from $100.00 to $112.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Evercore ISI raised their price target on Palomar from $90.00 to $99.00 and gave the stock an "in-line" rating in a research report on Tuesday, August 6th. Keefe, Bruyette & Woods increased their price objective on Palomar from $96.00 to $113.00 and gave the company an "outperform" rating in a research note on Tuesday, August 13th. Finally, Piper Sandler increased their price objective on Palomar from $99.00 to $105.00 and gave the company an "overweight" rating in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Palomar has an average rating of "Moderate Buy" and a consensus price target of $101.33.

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.