Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Sold by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC cut its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 16.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,720 shares of the company's stock after selling 4,105 shares during the period. Conestoga Capital Advisors LLC owned approximately 0.08% of Palomar worth $2,188,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Hunter Associates Investment Management LLC increased its holdings in Palomar by 6.8% during the 4th quarter. Hunter Associates Investment Management LLC now owns 17,689 shares of the company's stock worth $1,872,000 after purchasing an additional 1,120 shares in the last quarter. Moody Aldrich Partners LLC grew its holdings in Palomar by 130.4% during the fourth quarter. Moody Aldrich Partners LLC now owns 62,322 shares of the company's stock worth $6,581,000 after buying an additional 35,270 shares in the last quarter. KBC Group NV raised its position in Palomar by 44.9% in the 4th quarter. KBC Group NV now owns 1,045 shares of the company's stock valued at $110,000 after buying an additional 324 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in Palomar by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 7,919 shares of the company's stock valued at $836,000 after acquiring an additional 200 shares in the last quarter. Finally, Dakota Wealth Management boosted its holdings in Palomar by 3.1% during the 4th quarter. Dakota Wealth Management now owns 3,070 shares of the company's stock worth $324,000 after acquiring an additional 92 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.

Palomar Stock Up 1.2 %

NASDAQ:PLMR traded up $1.36 during mid-day trading on Thursday, hitting $110.73. 105,075 shares of the stock traded hands, compared to its average volume of 129,103. The business's 50-day moving average price is $106.87 and its 200 day moving average price is $99.82. The company has a market cap of $2.93 billion, a PE ratio of 26.30 and a beta of 0.38. Palomar Holdings, Inc. has a 12-month low of $57.68 and a 12-month high of $112.90.

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

Insider Activity at Palomar

In other Palomar news, CEO Mac Armstrong sold 7,000 shares of the firm's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $103.04, for a total value of $721,280.00. Following the completion of the sale, the chief executive officer now directly owns 419,388 shares in the company, valued at $43,213,739.52. This trade represents a 1.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO T Christopher Uchida sold 1,111 shares of the firm's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $104.00, for a total value of $115,544.00. Following the transaction, the chief financial officer now directly owns 16,432 shares of the company's stock, valued at $1,708,928. This represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,239 shares of company stock valued at $4,374,199. Company insiders own 4.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PLMR. JPMorgan Chase & Co. upped their price objective on shares of Palomar from $93.00 to $100.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods increased their price target on Palomar from $120.00 to $136.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. Jefferies Financial Group upped their price objective on Palomar from $110.00 to $113.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Finally, Piper Sandler boosted their target price on shares of Palomar from $119.00 to $133.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $115.50.

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.