Villere ST Denis J & Co. LLC Decreases Stock Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Villere ST Denis J & Co. LLC lowered its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 6.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 389,933 shares of the company's stock after selling 28,135 shares during the period. Palomar makes up approximately 3.7% of Villere ST Denis J & Co. LLC's portfolio, making the stock its 4th biggest holding. Villere ST Denis J & Co. LLC owned about 1.47% of Palomar worth $41,173,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. State Street Corp boosted its stake in Palomar by 3.0% during the 3rd quarter. State Street Corp now owns 1,097,702 shares of the company's stock valued at $103,919,000 after purchasing an additional 32,151 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Palomar by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 600,092 shares of the company's stock worth $56,822,000 after buying an additional 18,335 shares during the last quarter. Artemis Investment Management LLP boosted 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 buying an additional 71,806 shares during the last quarter. Emerald Advisers LLC boosted its stake in shares of Palomar by 1.9% in the 3rd quarter. Emerald Advisers LLC now owns 449,973 shares of the company's stock worth $42,599,000 after buying an additional 8,601 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted 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 buying an additional 77,552 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.

Analysts Set New Price Targets

PLMR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on Palomar from $93.00 to $100.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods boosted their target price on Palomar from $136.00 to $152.00 and gave the stock an "outperform" rating in a research note on Tuesday. Piper Sandler boosted their target price on Palomar from $133.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. JMP Securities restated a "market perform" rating on shares of Palomar in a research note on Thursday, February 13th. Finally, Truist Financial upped their price objective on Palomar from $112.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $127.33.

Insider Buying and Selling at Palomar

In other Palomar news, CFO T Christopher Uchida sold 1,030 shares of the business's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $110.85, for a total transaction of $114,175.50. Following the sale, the chief financial officer now owns 15,994 shares of the company's stock, valued at $1,772,934.90. The trade was a 6.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jonathan Knutzen sold 282 shares of the company's stock in a transaction 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 directly owns 20,098 shares in the company, valued at approximately $2,099,437.08. The trade was a 1.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,933 shares of company stock valued at $4,030,156 in the last 90 days. 4.30% of the stock is currently owned by company insiders.

Palomar Stock Down 1.0 %

Palomar stock traded down $1.27 during trading on Wednesday, hitting $122.86. The stock had a trading volume of 211,245 shares, compared to its average volume of 168,498. Palomar Holdings, Inc. has a 1 year low of $71.54 and a 1 year high of $128.38. The stock's 50 day moving average is $108.67 and its two-hundred day moving average is $101.73. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 27.42 and a beta of 0.38.

Palomar (NASDAQ:PLMR - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. As a group, equities research analysts anticipate that Palomar Holdings, Inc. will post 5.43 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.