Geneva Capital Management LLC trimmed its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 336,381 shares of the company's stock after selling 4,382 shares during the period. Geneva Capital Management LLC owned about 1.27% of Palomar worth $35,519,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new stake in shares of Palomar in the third quarter worth approximately $10,994,000. Soros Fund Management LLC purchased a new position in Palomar during the 3rd quarter worth $9,467,000. Westfield Capital Management Co. LP grew its stake in shares of Palomar by 24.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 394,408 shares of the company's stock worth $37,339,000 after acquiring an additional 77,552 shares in the last quarter. Artemis Investment Management LLP grew its stake in shares of Palomar by 18.7% in the 4th quarter. Artemis Investment Management LLP now owns 455,082 shares of the company's stock worth $48,052,000 after acquiring an additional 71,806 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Palomar by 112.6% in the third quarter. Barclays PLC now owns 71,803 shares of the company's stock valued at $6,798,000 after purchasing an additional 38,027 shares during the last quarter. 90.25% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on PLMR. JMP Securities reaffirmed a "market perform" rating on shares of Palomar in a research report on Thursday, February 13th. Keefe, Bruyette & Woods upped their target price on Palomar from $136.00 to $152.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Piper Sandler upped their price objective on Palomar from $133.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Finally, Truist Financial lifted their target price 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 issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $127.33.
Read Our Latest Analysis on Palomar
Insider Activity
In other news, CFO T Christopher Uchida sold 1,030 shares of Palomar stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $110.85, for a total value of $114,175.50. Following the completion of the transaction, the chief financial officer now directly owns 15,994 shares in the company, valued at approximately $1,772,934.90. The trade was a 6.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Angela L. Grant sold 1,505 shares of the stock in a transaction dated Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total value of $159,319.30. Following the sale, the insider now directly owns 2,534 shares in the company, valued at $268,249.24. This trade represents a 37.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,485 shares of company stock valued at $4,098,195 over the last quarter. Company insiders own 4.30% of the company's stock.
Palomar Stock Performance
NASDAQ:PLMR traded down $1.47 during trading hours on Monday, reaching $126.09. The stock had a trading volume of 252,436 shares, compared to its average volume of 161,403. Palomar Holdings, Inc. has a 12-month low of $71.54 and a 12-month high of $136.90. The stock has a 50 day simple moving average of $113.04 and a 200 day simple moving average of $104.53. The stock has a market cap of $3.36 billion, a P/E ratio of 28.15 and a beta of 0.33.
Palomar (NASDAQ:PLMR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate 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 analysts expect that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.
About Palomar
(
Free Report)
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.
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