Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,320 shares of the company’s stock after selling 244 shares during the quarter. Los Angeles Capital Management LLC owned 0.09% of Palomar worth $1,955,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PLMR. Norges Bank acquired a new position in shares of Palomar during the fourth quarter worth about $9,726,000. Stephens Investment Management Group LLC boosted its holdings in Palomar by 11.3% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,076,606 shares of the company’s stock worth $59,752,000 after buying an additional 109,261 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in Palomar by 26.0% during the third quarter. Westfield Capital Management Co. LP now owns 433,346 shares of the company’s stock worth $21,992,000 after buying an additional 89,410 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Palomar by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 2,363,067 shares of the company’s stock worth $131,150,000 after buying an additional 85,329 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Palomar by 14.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 421,746 shares of the company’s stock worth $23,407,000 after buying an additional 52,659 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, President Jon Christianson sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $76.30, for a total value of $152,600.00. Following the completion of the transaction, the president now owns 57,761 shares of the company’s stock, valued at $4,407,164.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Mac Armstrong sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $80.03, for a total transaction of $560,210.00. Following the completion of the transaction, the chief executive officer now owns 468,388 shares of the company’s stock, valued at $37,485,091.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Jon Christianson sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $76.30, for a total transaction of $152,600.00. Following the transaction, the president now directly owns 57,761 shares of the company’s stock, valued at approximately $4,407,164.30. The disclosure for this sale can be found here. Insiders sold a total of 19,250 shares of company stock valued at $1,563,430 over the last 90 days. Insiders own 4.30% of the company’s stock.

Palomar Price Performance

Shares of NASDAQ PLMR opened at $78.16 on Friday. Palomar Holdings, Inc. has a 12-month low of $48.08 and a 12-month high of $89.22. The company has a market capitalization of $1.95 billion, a PE ratio of 22.46 and a beta of 0.32. The firm’s 50-day moving average is $82.14 and its two-hundred day moving average is $72.85.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.28. The business had revenue of $108.39 million during the quarter, compared to analyst estimates of $322.10 million. Palomar had a net margin of 21.78% and a return on equity of 19.94%. The company’s revenue was up 29.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.80 earnings per share. On average, analysts forecast that Palomar Holdings, Inc. will post 4.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Palomar from $93.00 to $96.00 and gave the stock an “outperform” rating in a report on Wednesday, May 29th. Jefferies Financial Group raised shares of Palomar from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $78.00 to $88.00 in a report on Thursday, March 14th. JPMorgan Chase & Co. downgraded shares of Palomar from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $79.00 to $85.00 in a report on Monday, April 8th. Piper Sandler reissued an “overweight” rating and set a $99.00 price objective (up previously from $90.00) on shares of Palomar in a report on Wednesday, May 29th. Finally, Evercore ISI upped their price target on shares of Palomar from $88.00 to $89.00 and gave the company an “in-line” rating in a report on Wednesday, May 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.83.

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.