BNP Paribas Financial Markets Decreases Stock Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

BNP Paribas Financial Markets lessened its position in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 38.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,024 shares of the company's stock after selling 11,284 shares during the period. BNP Paribas Financial Markets owned 0.07% of Palomar worth $1,706,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PLMR. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Palomar in the 3rd quarter worth approximately $25,000. GAMMA Investing LLC lifted its holdings in Palomar by 48.6% in the third quarter. GAMMA Investing LLC now owns 382 shares of the company's stock valued at $36,000 after buying an additional 125 shares during the period. Farther Finance Advisors LLC grew its holdings in Palomar by 490.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company's stock worth $43,000 after acquiring an additional 378 shares during the period. International Assets Investment Management LLC bought a new position in shares of Palomar in the 2nd quarter worth about $49,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Palomar in the 1st quarter valued at about $59,000. 90.25% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO T Christopher Uchida sold 1,111 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $104.00, for a total value of $115,544.00. Following the sale, the chief financial officer now owns 16,432 shares in the company, valued at $1,708,928. This represents a 6.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Jon Christianson sold 3,805 shares of Palomar stock in a transaction on Friday, October 4th. The shares were sold at an average price of $103.04, for a total value of $392,067.20. Following the transaction, the president now owns 51,926 shares of the company's stock, valued at $5,350,455.04. The trade was a 6.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,326 shares of company stock valued at $2,688,779 over the last quarter. 4.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PLMR shares. Piper Sandler upped their target price on shares of Palomar from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. JPMorgan Chase & Co. lifted their target price on Palomar from $93.00 to $100.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Jefferies Financial Group upped their price target on Palomar from $110.00 to $113.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods raised their price objective on Palomar from $120.00 to $136.00 and gave the company an "outperform" rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $111.67.

Palomar Stock Up 1.9 %

Shares of NASDAQ PLMR traded up $2.03 during mid-day trading on Friday, reaching $110.45. 165,504 shares of the company were exchanged, compared to its average volume of 153,516. The company's 50 day moving average price is $99.78 and its 200 day moving average price is $92.88. Palomar Holdings, Inc. has a 52 week low of $54.50 and a 52 week high of $112.10. The stock has a market capitalization of $2.92 billion, a PE ratio of 26.24 and a beta of 0.36.

Palomar (NASDAQ:PLMR - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.20. The company had revenue of $148.50 million during the quarter, compared to analyst estimates of $134.72 million. Palomar had a return on equity of 19.65% and a net margin of 21.55%. During the same quarter in the previous year, the company posted $0.80 EPS. On average, sell-side analysts predict that Palomar Holdings, Inc. will post 4.33 earnings per share for the current 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.