Palomar Holdings, Inc. (NASDAQ:PLMR) Position Increased by Fmr LLC

Fmr LLC raised its stake in Palomar Holdings, Inc. (NASDAQ:PLMR) by 39.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,123 shares of the company’s stock after acquiring an additional 601 shares during the period. Fmr LLC’s holdings in Palomar were worth $201,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Louisiana State Employees Retirement System raised its position in shares of Palomar by 2.5% during the second quarter. Louisiana State Employees Retirement System now owns 12,500 shares of the company’s stock worth $1,014,000 after purchasing an additional 300 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Palomar by 214.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 165,685 shares of the company’s stock worth $13,445,000 after purchasing an additional 112,996 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Palomar by 8.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,833 shares of the company’s stock worth $636,000 after buying an additional 594 shares during the period. F M Investments LLC purchased a new stake in Palomar during the second quarter valued at about $11,946,000. Finally, Atlas Capital Advisors LLC boosted its holdings in shares of Palomar by 167.7% in the second quarter. Atlas Capital Advisors LLC now owns 137,284 shares of the company’s stock worth $11,141,000 after buying an additional 86,000 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Insider Activity

In other news, President Jon Christianson sold 3,805 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $103.04, for a total transaction of $392,067.20. Following the transaction, the president now owns 51,926 shares in the company, valued at approximately $5,350,455.04. This trade represents a 6.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mac Armstrong sold 3,185 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $98.21, for a total transaction of $312,798.85. Following the completion of the sale, the chief executive officer now owns 50,312 shares of the company’s stock, valued at $4,941,141.52. This represents a 5.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,356 shares of company stock worth $2,802,955 in the last three months. 4.30% of the stock is owned by insiders.

Palomar Stock Up 1.1 %

Shares of NASDAQ:PLMR opened at $104.93 on Friday. Palomar Holdings, Inc. has a 12-month low of $54.50 and a 12-month high of $112.90. The firm has a market capitalization of $2.78 billion, a P/E ratio of 24.92 and a beta of 0.36. The firm has a fifty day moving average of $102.14 and a two-hundred day moving average of $94.59.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.20. Palomar had a return on equity of 19.65% and a net margin of 21.55%. The firm had revenue of $148.50 million during the quarter, compared to analysts’ expectations of $134.72 million. During the same quarter last year, the firm earned $0.80 earnings per share. Equities research analysts expect that Palomar Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PLMR shares. JPMorgan Chase & Co. boosted their price target on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Piper Sandler boosted their target price on shares of Palomar from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Jefferies Financial Group raised their target price on Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods upped their price target on Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. 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, the company has an average rating of “Moderate Buy” and an average target price of $111.67.

Palomar 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.