Champlain Investment Partners LLC Sells 369,290 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Champlain Investment Partners LLC trimmed its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 31.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 821,520 shares of the company's stock after selling 369,290 shares during the period. Champlain Investment Partners LLC owned about 3.10% of Palomar worth $86,744,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PLMR. Vanguard Group Inc. lifted its holdings in shares of Palomar by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 2,574,923 shares of the company's stock worth $271,886,000 after acquiring an additional 53,123 shares during the last quarter. American Century Companies Inc. lifted its stake in Palomar by 36.6% in the fourth quarter. American Century Companies Inc. now owns 785,419 shares of the company's stock worth $82,932,000 after purchasing an additional 210,523 shares during the last quarter. Geode Capital Management LLC boosted its position in Palomar by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 618,840 shares of the company's stock valued at $65,358,000 after buying an additional 18,748 shares during the period. Artemis Investment Management LLP increased its holdings in shares of Palomar by 18.7% in the fourth quarter. Artemis Investment Management LLP now owns 455,082 shares of the company's stock worth $48,052,000 after buying an additional 71,806 shares during the period. Finally, Federated Hermes Inc. lifted its stake in shares of Palomar by 11.2% in the 4th quarter. Federated Hermes Inc. now owns 374,523 shares of the company's stock valued at $39,546,000 after acquiring an additional 37,642 shares during the last quarter. Hedge funds and other institutional investors own 90.25% of the company's stock.

Palomar Stock Up 2.3 %

Shares of PLMR stock traded up $3.26 during mid-day trading on Tuesday, reaching $147.42. 125,218 shares of the company's stock traded hands, compared to its average volume of 184,648. The company's 50-day moving average price is $133.26 and its 200-day moving average price is $113.97. The company has a market cap of $3.94 billion, a P/E ratio of 32.92 and a beta of 0.46. Palomar Holdings, Inc. has a 12 month low of $77.17 and a 12 month high of $155.87.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. Equities analysts predict that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO T Christopher Uchida sold 1,030 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $109.65, for a total transaction of $112,939.50. Following the sale, the chief financial officer now directly owns 16,258 shares of the company's stock, valued at approximately $1,782,689.70. This represents a 5.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan Knutzen sold 282 shares of Palomar stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $104.46, for a total transaction of $29,457.72. Following the completion of the transaction, the insider now directly owns 20,098 shares of the company's stock, valued at $2,099,437.08. This trade represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,645 shares of company stock worth $3,019,259 in the last 90 days. Insiders own 4.30% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Piper Sandler raised their target price on shares of Palomar from $133.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Keefe, Bruyette & Woods decreased their target price on Palomar from $155.00 to $145.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Jefferies Financial Group lifted their price target on shares of Palomar from $145.00 to $168.00 and gave the company a "buy" rating in a report on Friday, April 11th. JPMorgan Chase & Co. upgraded shares of Palomar from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $115.00 to $150.00 in a report on Tuesday, April 8th. Finally, Truist Financial lifted their target price on shares of Palomar from $150.00 to $178.00 and gave the company a "buy" rating in a research note on Tuesday, April 15th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Palomar has a consensus rating of "Moderate Buy" and an average target price of $148.33.

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.