F M Investments LLC Sells 94,483 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

F M Investments LLC cut its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 64.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,233 shares of the company's stock after selling 94,483 shares during the period. F M Investments LLC owned approximately 0.20% of Palomar worth $5,515,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in PLMR. Blue Trust Inc. acquired a new stake in Palomar in the 4th quarter valued at about $26,000. Smartleaf Asset Management LLC lifted its stake in Palomar by 536.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 414 shares of the company's stock valued at $43,000 after purchasing an additional 349 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Palomar by 63.2% during the fourth quarter. Jones Financial Companies Lllp now owns 493 shares of the company's stock worth $52,000 after buying an additional 191 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Palomar by 21.8% in the fourth quarter. Farther Finance Advisors LLC now owns 554 shares of the company's stock valued at $58,000 after buying an additional 99 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Palomar by 44.9% during the 4th quarter. KBC Group NV now owns 1,045 shares of the company's stock valued at $110,000 after acquiring an additional 324 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.

Palomar Stock Up 1.6 %

Shares of NASDAQ:PLMR traded up $2.43 on Tuesday, reaching $152.97. The company had a trading volume of 162,160 shares, compared to its average volume of 182,968. The stock has a market capitalization of $4.08 billion, a P/E ratio of 34.15 and a beta of 0.46. The stock has a 50-day moving average price of $129.28 and a 200 day moving average price of $112.12. Palomar Holdings, Inc. has a twelve month low of $74.77 and a twelve month high of $155.18.

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Palomar (NASDAQ:PLMR - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share (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, sell-side analysts predict that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palomar news, CEO Mac Armstrong sold 2,791 shares of the stock in a transaction on Sunday, January 26th. The shares were sold at an average price of $101.69, for a total value of $283,816.79. Following the completion of the sale, the chief executive officer now directly owns 62,639 shares of the company's stock, valued at $6,369,759.91. This represents a 4.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO T Christopher Uchida sold 394 shares of the business's stock in a transaction dated Sunday, January 26th. The stock was sold at an average price of $101.69, for a total transaction of $40,065.86. Following the transaction, the chief financial officer now owns 16,943 shares in the company, valued at approximately $1,722,933.67. The trade was a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,097 shares of company stock worth $3,415,422 in the last quarter. 4.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PLMR has been the subject of several recent analyst reports. JMP Securities reiterated a "market perform" rating on shares of Palomar in a report on Thursday, February 13th. JPMorgan Chase & Co. upgraded Palomar from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $115.00 to $150.00 in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods decreased their price target on shares of Palomar from $155.00 to $145.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Truist Financial increased their target price on shares of Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Jefferies Financial Group increased their price objective on Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $148.33.

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.