Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Sold by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC lessened its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 12.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 873,644 shares of the company's stock after selling 125,236 shares during the quarter. Palomar accounts for about 1.1% of Stephens Investment Management Group LLC's holdings, making the stock its 25th biggest holding. Stephens Investment Management Group LLC owned approximately 3.49% of Palomar worth $82,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of PLMR. Victory Capital Management Inc. boosted its stake in shares of Palomar by 1,634.6% in the second quarter. Victory Capital Management Inc. now owns 177,678 shares of the company's stock valued at $14,419,000 after purchasing an additional 167,435 shares during the period. F M Investments LLC purchased a new stake in Palomar during the 2nd quarter worth approximately $11,946,000. Allspring Global Investments Holdings LLC increased its stake in Palomar by 214.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 165,685 shares of the company's stock worth $13,445,000 after buying an additional 112,996 shares during the period. Artemis Investment Management LLP increased its stake in Palomar by 36.1% during the 2nd quarter. Artemis Investment Management LLP now owns 339,464 shares of the company's stock worth $27,548,000 after buying an additional 90,010 shares during the period. Finally, Atlas Capital Advisors LLC increased its stake in Palomar by 167.7% during the 2nd quarter. Atlas Capital Advisors LLC now owns 137,284 shares of the company's stock worth $11,141,000 after buying an additional 86,000 shares during the period. Hedge funds and other institutional investors own 90.25% of the company's stock.

Analyst Upgrades and Downgrades

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

Palomar Trading Down 1.5 %

Shares of NASDAQ PLMR traded down $1.39 during mid-day trading on Friday, reaching $88.38. The company had a trading volume of 154,769 shares, compared to its average volume of 161,735. The firm has a 50 day simple moving average of $95.87 and a two-hundred day simple moving average of $88.73. The stock has a market cap of $2.21 billion, a P/E ratio of 23.69 and a beta of 0.33. Palomar Holdings, Inc. has a 52-week low of $54.50 and a 52-week high of $103.40.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its earnings results on Monday, August 5th. The company reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.16. The firm had revenue of $123.08 million for the quarter, compared to the consensus estimate of $338.74 million. Palomar had a net margin of 21.63% and a return on equity of 20.83%. The company's revenue was up 47.0% on a year-over-year basis. During the same period last year, the firm posted $0.72 EPS. On average, equities analysts expect that Palomar Holdings, Inc. will post 4.35 EPS for the current year.

Insider Activity at Palomar

In related news, President Jon Christianson sold 3,805 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $103.04, for a total transaction of $392,067.20. Following the completion of the sale, the president now owns 51,926 shares in the company, valued at $5,350,455.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Jon Christianson sold 3,805 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $103.04, for a total transaction of $392,067.20. Following the completion of the sale, the president now owns 51,926 shares in the company, valued at $5,350,455.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mac Armstrong sold 7,000 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $96.28, for a total transaction of $673,960.00. Following the sale, the chief executive officer now owns 433,388 shares of the company's stock, valued at approximately $41,726,596.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,520 shares of company stock valued at $3,626,486 in the last ninety days. Insiders own 4.30% of the company's stock.

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.