Peregrine Capital Management LLC Has $9.68 Million Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Peregrine Capital Management LLC increased its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 1.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 91,650 shares of the company’s stock after purchasing an additional 1,645 shares during the quarter. Peregrine Capital Management LLC’s holdings in Palomar were worth $9,677,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Palomar in the 3rd quarter worth approximately $25,000. Blue Trust Inc. acquired a new position in shares of Palomar in the fourth quarter valued at $26,000. Farther Finance Advisors LLC lifted its position in Palomar by 490.9% in the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $43,000 after purchasing an additional 378 shares during the period. Covestor Ltd boosted its stake in Palomar by 20.2% during the third quarter. Covestor Ltd now owns 1,076 shares of the company’s stock worth $102,000 after buying an additional 181 shares in the last quarter. Finally, KBC Group NV increased its holdings in Palomar by 44.9% in the 4th quarter. KBC Group NV now owns 1,045 shares of the company’s stock valued at $110,000 after buying an additional 324 shares during the period. 90.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PLMR has been the subject of a number of analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Palomar in a report on Thursday, February 13th. Keefe, Bruyette & Woods raised their price target on shares of Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. upped their price objective on Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Piper Sandler raised their target price on Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Truist Financial upped their price target on Palomar from $112.00 to $150.00 and gave the company a “buy” rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Palomar presently has an average rating of “Moderate Buy” and a consensus price target of $124.67.

Insider Activity at Palomar

In other Palomar news, CEO Mac Armstrong sold 7,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $103.04, for a total transaction of $721,280.00. Following the transaction, the chief executive officer now directly owns 419,388 shares in the company, valued at approximately $43,213,739.52. This represents a 1.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $159,319.30. Following the sale, the insider now owns 2,534 shares of the company’s stock, valued at approximately $268,249.24. This represents a 37.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,933 shares of company stock valued at $4,030,156 over the last quarter. Corporate insiders own 4.30% of the company’s stock.

Palomar Trading Up 1.5 %

NASDAQ:PLMR opened at $126.92 on Tuesday. The stock has a market capitalization of $3.36 billion, a P/E ratio of 30.15 and a beta of 0.38. Palomar Holdings, Inc. has a 1 year low of $66.81 and a 1 year high of $128.38. The firm has a 50 day moving average of $107.62 and a 200-day moving average of $101.07.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.13. Palomar had a return on equity of 19.65% and a net margin of 21.55%. As a group, analysts forecast that Palomar Holdings, Inc. will post 4.33 EPS for the current fiscal year.

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.