SG Americas Securities LLC Has $265,000 Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

SG Americas Securities LLC lowered its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 94.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,798 shares of the company's stock after selling 44,144 shares during the quarter. SG Americas Securities LLC's holdings in Palomar were worth $265,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PLMR. Arizona State Retirement System increased its holdings in shares of Palomar by 2.4% during the second quarter. Arizona State Retirement System now owns 6,961 shares of the company's stock worth $565,000 after buying an additional 164 shares in the last quarter. CWM LLC raised its holdings in shares of Palomar by 15.7% in the second quarter. CWM LLC now owns 1,601 shares of the company's stock valued at $130,000 after buying an additional 217 shares during the last quarter. Covestor Ltd grew its holdings in Palomar by 29.0% during the 1st quarter. Covestor Ltd now owns 1,183 shares of the company's stock worth $99,000 after acquiring an additional 266 shares during the last quarter. Texas Permanent School Fund Corp increased its position in Palomar by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 21,644 shares of the company's stock valued at $1,814,000 after acquiring an additional 280 shares in the last quarter. Finally, Diversified Trust Co raised its stake in shares of Palomar by 2.6% in the second quarter. Diversified Trust Co now owns 11,700 shares of the company's stock worth $949,000 after acquiring an additional 300 shares during the last quarter. 90.25% of the stock is owned by institutional investors.

Palomar Price Performance

Shares of NASDAQ PLMR traded down $0.66 during midday trading on Monday, reaching $96.43. 74,479 shares of the stock were exchanged, compared to its average volume of 163,760. Palomar Holdings, Inc. has a 12 month low of $48.08 and a 12 month high of $103.40. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 27.71 and a beta of 0.33. The business has a 50-day simple moving average of $96.00 and a two-hundred day simple moving average of $88.02.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its earnings results on Monday, August 5th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.16. The firm had revenue of $123.08 million during the quarter, compared to analysts' expectations of $338.74 million. Palomar had a return on equity of 20.83% and a net margin of 21.63%. The company's revenue was up 47.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 earnings per share. Equities research analysts expect that Palomar Holdings, Inc. will post 4.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PLMR has been the topic of several research analyst reports. Evercore ISI increased their price target on shares of Palomar from $90.00 to $99.00 and gave the company an "in-line" rating in a research note on Tuesday, August 6th. JPMorgan Chase & Co. boosted their target price on Palomar from $88.00 to $91.00 and gave the stock a "neutral" rating in a research report on Thursday, July 11th. Jefferies Financial Group boosted their price objective on Palomar from $110.00 to $113.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Piper Sandler raised their target price on shares of Palomar from $99.00 to $105.00 and gave the company an "overweight" rating in a research note on Wednesday, August 7th. Finally, Truist Financial lifted their price target on shares of Palomar from $100.00 to $112.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $105.50.

Insider Buying and Selling at Palomar

In other news, Director Thomas A. Bradley acquired 1,000 shares of Palomar stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of $89.42 per share, with a total value of $89,420.00. Following the completion of the transaction, the director now directly owns 4,724 shares of the company's stock, valued at approximately $422,420.08. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Palomar news, President Jon Christianson sold 10,000 shares of the business's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $94.40, for a total transaction of $944,000.00. Following the sale, the president now directly owns 51,926 shares of the company's stock, valued at $4,901,814.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Thomas A. Bradley acquired 1,000 shares of the firm's stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $89.42 per share, with a total value of $89,420.00. Following the acquisition, the director now directly owns 4,724 shares in the company, valued at $422,420.08. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 30,520 shares of company stock valued at $2,952,526 in the last 90 days. 4.30% of the stock is currently owned by company insiders.

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.