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

American Century Companies Inc. cut its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR) by 50.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 420,901 shares of the company’s stock after selling 425,411 shares during the quarter. American Century Companies Inc.’s holdings in Palomar were worth $49,140,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PLMR. Vanguard Group Inc. boosted its holdings in shares of Palomar by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,631,240 shares of the company’s stock valued at $307,197,000 after acquiring an additional 77,515 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Palomar by 234.1% in the 2nd quarter. Invesco Ltd. now owns 798,361 shares of the company’s stock valued at $123,147,000 after purchasing an additional 559,383 shares during the last quarter. Westfield Capital Management Co. LP increased its position in shares of Palomar by 81.0% during the third quarter. Westfield Capital Management Co. LP now owns 738,528 shares of the company’s stock worth $86,223,000 after buying an additional 330,592 shares during the period. Geode Capital Management LLC grew its holdings in Palomar by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 657,530 shares of the company’s stock worth $101,436,000 after acquiring an additional 13,802 shares during the period. Finally, Stephens Investment Management Group LLC increased its holdings in Palomar by 3.6% in the third quarter. Stephens Investment Management Group LLC now owns 579,458 shares of the company’s stock worth $67,652,000 after purchasing an additional 19,908 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods raised their price objective on 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 shares of Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 14th. JPMorgan Chase & Co. upped their target price on Palomar from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Wall Street Zen lowered shares of Palomar from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. Finally, Evercore assumed coverage on Palomar in a research report on Monday, February 9th. They issued an “outperform” rating and a $150.00 target price for the company. Seven analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $163.00.

Insiders Place Their Bets

In other news, CFO T Christopher Uchida sold 2,103 shares of the stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $119.88, for a total transaction of $252,107.64. Following the sale, the chief financial officer owned 11,473 shares in the company, valued at $1,375,383.24. This represents a 15.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Jon Christianson sold 1,991 shares of the company’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $119.88, for a total value of $238,681.08. Following the transaction, the president directly owned 62,985 shares in the company, valued at approximately $7,550,641.80. The trade was a 3.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 58,999 shares of company stock worth $7,253,229. 3.70% of the stock is owned by corporate insiders.

Palomar Stock Performance

Shares of PLMR opened at $127.11 on Friday. The firm has a 50 day moving average price of $127.68 and a 200-day moving average price of $123.31. Palomar Holdings, Inc. has a fifty-two week low of $107.75 and a fifty-two week high of $175.85. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 17.70 and a beta of 0.46.

Palomar (NASDAQ:PLMR) last issued its earnings results on Wednesday, February 11th. The company reported $2.24 EPS for the quarter, topping the consensus estimate of $2.06 by $0.18. The company had revenue of $253.36 million for the quarter, compared to the consensus estimate of $204.58 million. Palomar had a net margin of 22.50% and a return on equity of 22.77%. The firm’s revenue for the quarter was up 62.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.52 earnings per share. As a group, equities research analysts predict that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

About Palomar

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.