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

Blair William & Co. IL reduced its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 142,735 shares of the company's stock after selling 1,968 shares during the quarter. Blair William & Co. IL owned 0.54% of Palomar worth $15,071,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Dakota Wealth Management raised its position in Palomar by 3.1% during the 4th quarter. Dakota Wealth Management now owns 3,070 shares of the company's stock valued at $324,000 after purchasing an additional 92 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Palomar by 21.8% in the fourth quarter. Farther Finance Advisors LLC now owns 554 shares of the company's stock worth $58,000 after purchasing an additional 99 shares during the period. State of Alaska Department of Revenue increased its position in Palomar by 0.7% during the 4th quarter. State of Alaska Department of Revenue now owns 15,042 shares of the company's stock valued at $1,588,000 after buying an additional 100 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Palomar by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company's stock valued at $1,352,000 after acquiring an additional 100 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its stake in Palomar by 2.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,837 shares of the company's stock valued at $616,000 after purchasing an additional 145 shares in the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at Palomar

In other news, CEO Mac Armstrong sold 3,154 shares of the company's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $109.27, for a total value of $344,637.58. Following the completion of the transaction, the chief executive officer now owns 60,032 shares of the company's stock, valued at $6,559,696.64. This represents a 4.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Jon Christianson sold 371 shares of the business's stock in a transaction that occurred on Sunday, January 26th. The stock was sold at an average price of $101.69, for a total value of $37,726.99. Following the completion of the transaction, the president now directly owns 55,771 shares in the company, valued at approximately $5,671,352.99. This represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,097 shares of company stock valued at $3,271,422 over the last quarter. 4.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PLMR has been the topic of several analyst reports. JMP Securities reaffirmed a "market perform" rating on shares of Palomar in a research report on Thursday, February 13th. Piper Sandler upped their price target on Palomar from $133.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Keefe, Bruyette & Woods lifted their price objective on Palomar from $152.00 to $155.00 and gave the stock an "outperform" rating in a report on Friday, March 21st. Finally, Truist Financial upped their target price on shares of Palomar from $112.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $127.83.

Palomar Stock Up 1.7 %

NASDAQ:PLMR traded up $2.30 on Wednesday, hitting $140.84. The stock had a trading volume of 69,784 shares, compared to its average volume of 171,251. Palomar Holdings, Inc. has a 52-week low of $74.09 and a 52-week high of $141.17. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 31.44 and a beta of 0.33. The business's 50-day simple moving average is $122.05 and its two-hundred day simple moving average is $108.85.

Palomar (NASDAQ:PLMR - Get Free Report) last announced 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 return on equity of 19.76% and a net margin of 21.23%. As a group, equities research analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

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.