Cibc World Markets Corp Buys Shares of 2,406 Palomar Holdings, Inc. (NASDAQ:PLMR)

Cibc World Markets Corp acquired a new stake in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,406 shares of the company's stock, valued at approximately $254,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Natixis Advisors LLC raised its stake in Palomar by 4.5% in the 4th quarter. Natixis Advisors LLC now owns 11,110 shares of the company's stock worth $1,173,000 after acquiring an additional 475 shares during the last quarter. Swiss National Bank boosted its position in Palomar by 5.5% during the fourth quarter. Swiss National Bank now owns 51,500 shares of the company's stock worth $5,438,000 after purchasing an additional 2,700 shares in the last quarter. Avantax Advisory Services Inc. increased its position in shares of Palomar by 2.5% during the fourth quarter. Avantax Advisory Services Inc. now owns 5,837 shares of the company's stock worth $616,000 after purchasing an additional 145 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Palomar by 21.8% during the fourth quarter. Farther Finance Advisors LLC now owns 554 shares of the company's stock worth $58,000 after buying an additional 99 shares during the last quarter. Finally, Moran Wealth Management LLC increased its holdings in shares of Palomar by 6.5% during the 4th quarter. Moran Wealth Management LLC now owns 6,160 shares of the company's stock worth $650,000 after buying an additional 378 shares during the last quarter. Institutional investors own 90.25% of the company's stock.

Insider Buying and Selling at Palomar

In other news, CFO T Christopher Uchida sold 864 shares of Palomar stock in a transaction that occurred on Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total value of $91,463.04. Following the completion of the transaction, the chief financial officer now owns 17,288 shares in the company, valued at approximately $1,830,107.68. The trade was a 4.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mac Armstrong sold 5,000 shares of the stock in a transaction 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 sale, the chief executive officer now owns 402,388 shares in the company, valued at $52,197,771.36. The trade was a 1.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,455 shares of company stock worth $3,911,340 over the last three months. Corporate insiders own 4.30% of the company's stock.

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Analyst Ratings Changes

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

Palomar Stock Performance

Shares of NASDAQ:PLMR traded up $0.17 during trading hours on Friday, hitting $136.77. 191,182 shares of the company's stock traded hands, compared to its average volume of 170,637. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 30.53 and a beta of 0.33. Palomar Holdings, Inc. has a 52 week low of $74.09 and a 52 week high of $138.69. The company's fifty day simple moving average is $120.94 and its two-hundred day simple moving average is $108.12.

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 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, analysts anticipate that Palomar Holdings, Inc. will post 5.99 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.