Blair William & Co. IL Reduces Stock Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Blair William & Co. IL cut its stake in Palomar Holdings, Inc. (NASDAQ:PLMR) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 142,735 shares of the company’s stock after selling 1,968 shares during the quarter. Blair William & Co. IL’s holdings in Palomar were worth $15,071,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Palomar during the third quarter valued at about $371,000. Intech Investment Management LLC grew its stake in Palomar by 109.0% during the third quarter. Intech Investment Management LLC now owns 9,040 shares of the company’s stock valued at $856,000 after acquiring an additional 4,714 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Palomar by 6.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 230,552 shares of the company’s stock worth $21,826,000 after acquiring an additional 14,509 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Palomar in the 3rd quarter valued at $543,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Palomar by 25.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 75,216 shares of the company’s stock valued at $7,121,000 after purchasing an additional 15,093 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors.

Palomar Stock Performance

PLMR stock opened at $136.77 on Friday. The company has a market capitalization of $3.65 billion, a PE ratio of 30.53 and a beta of 0.33. Palomar Holdings, Inc. has a one year low of $74.09 and a one year high of $138.69. The company’s 50 day moving average price is $120.94 and its two-hundred day moving average price is $108.01.

Palomar (NASDAQ:PLMR) last issued its earnings results on Wednesday, February 12th. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. On average, research analysts predict that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. JMP Securities restated a “market perform” rating on shares of Palomar in a research report on Thursday, February 13th. Truist Financial upped their price objective on shares of Palomar from $112.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Piper Sandler lifted their target price 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. Finally, Keefe, Bruyette & Woods increased their price target on shares of Palomar from $152.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, March 21st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Palomar presently has an average rating of “Moderate Buy” and a consensus target price of $127.83.

Insider Activity

In other Palomar news, CEO Mac Armstrong sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $129.72, for a total value of $648,600.00. Following the completion of the sale, the chief executive officer now owns 402,388 shares in the company, valued at approximately $52,197,771.36. The trade was a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Angela L. Grant sold 1,505 shares of the firm’s 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 completion of the transaction, the insider now owns 2,534 shares in the company, valued at $268,249.24. This represents a 37.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,455 shares of company stock valued at $3,911,340. Insiders own 4.30% of the company’s stock.

About Palomar

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.