NBW Capital LLC Decreases Stock Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

NBW Capital LLC reduced its position in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 3.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 91,337 shares of the company's stock after selling 3,223 shares during the period. Palomar accounts for approximately 1.8% of NBW Capital LLC's investment portfolio, making the stock its 17th largest holding. NBW Capital LLC owned approximately 0.35% of Palomar worth $9,644,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. bought a new stake in shares of Palomar in the 4th quarter valued at $26,000. Farther Finance Advisors LLC increased its position in shares of Palomar by 490.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company's stock worth $43,000 after purchasing an additional 378 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Palomar by 536.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 414 shares of the company's stock worth $43,000 after acquiring an additional 349 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Palomar by 63.2% in the 4th quarter. Jones Financial Companies Lllp now owns 493 shares of the company's stock valued at $52,000 after purchasing an additional 191 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of Palomar by 20.2% during the 3rd quarter. Covestor Ltd now owns 1,076 shares of the company's stock worth $102,000 after acquiring an additional 181 shares during the period. 90.25% of the stock is owned by institutional investors.

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Insider Activity at Palomar

In other news, CEO Mac Armstrong sold 7,000 shares of Palomar stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $103.04, for a total transaction of $721,280.00. Following the completion of the sale, the chief executive officer now directly owns 419,388 shares in the company, valued at approximately $43,213,739.52. The trade was a 1.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jonathan Knutzen sold 282 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $104.46, for a total transaction of $29,457.72. Following the completion of the transaction, the insider now owns 20,098 shares in the company, valued at approximately $2,099,437.08. This trade represents a 1.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,485 shares of company stock worth $4,098,195 over the last three months. 4.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PLMR. Piper Sandler lifted their price objective on Palomar from $133.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Keefe, Bruyette & Woods raised their price target on shares of Palomar from $136.00 to $152.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. JMP Securities restated a "market perform" rating on shares of Palomar in a report on Thursday, February 13th. JPMorgan Chase & Co. upped their target price on shares of Palomar from $93.00 to $100.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Finally, Truist Financial boosted 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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Palomar presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.33.

Palomar Stock Performance

Shares of Palomar stock traded up $2.22 on Friday, hitting $127.56. 249,713 shares of the company's stock were exchanged, compared to its average volume of 160,356. The company has a 50-day simple moving average of $112.57 and a 200-day simple moving average of $104.16. Palomar Holdings, Inc. has a 1 year low of $71.54 and a 1 year high of $136.90. The stock has a market capitalization of $3.40 billion, a PE ratio of 28.47 and a beta of 0.33.

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

Palomar Company 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.