Envestnet Asset Management Inc. Has $4.30 Million Stock Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Envestnet Asset Management Inc. lifted its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 28.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,688 shares of the company's stock after acquiring an additional 9,036 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.15% of Palomar worth $4,296,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Dakota Wealth Management lifted its position in Palomar by 3.1% during the fourth 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. Farther Finance Advisors LLC lifted its holdings in Palomar by 21.8% during the 4th 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 last quarter. State of Alaska Department of Revenue boosted its stake in Palomar by 0.7% in 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 purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System boosted its stake in Palomar by 0.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company's stock valued at $1,352,000 after purchasing an additional 100 shares during the period. Finally, Avantax Advisory Services Inc. grew its holdings in Palomar by 2.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 5,837 shares of the company's stock valued at $616,000 after buying an additional 145 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO T Christopher Uchida sold 394 shares of the stock in a transaction that occurred on Sunday, January 26th. The shares were sold at an average price of $101.69, for a total value of $40,065.86. Following the completion of the transaction, the chief financial officer now owns 16,943 shares of the company's stock, valued at $1,722,933.67. This represents a 2.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mac Armstrong sold 5,000 shares of the business's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $129.72, for a total transaction of $648,600.00. Following the sale, the chief executive officer now directly owns 402,388 shares in the company, valued at approximately $52,197,771.36. The trade was a 1.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,615 shares of company stock worth $3,633,369. Corporate insiders own 3.70% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PLMR. Piper Sandler boosted their target price on shares of Palomar from $133.00 to $150.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Jefferies Financial Group boosted their price objective on shares of Palomar from $145.00 to $168.00 and gave the company a "buy" rating in a report on Friday, April 11th. JMP Securities reiterated a "market perform" rating on shares of Palomar in a research report on Thursday, February 13th. Truist Financial increased their price target on Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a research report on Tuesday, April 15th. Finally, Keefe, Bruyette & Woods lowered their price objective on Palomar from $155.00 to $145.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Palomar presently has an average rating of "Moderate Buy" and a consensus target price of $148.33.

Palomar Price Performance

PLMR traded down $5.67 during trading on Friday, hitting $147.48. 389,515 shares of the stock traded hands, compared to its average volume of 187,912. The business has a 50 day moving average price of $135.21 and a 200 day moving average price of $115.21. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 32.92 and a beta of 0.46. Palomar Holdings, Inc. has a twelve month low of $77.17 and a twelve month high of $155.87.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly 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%. On average, equities research analysts predict that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Palomar 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.