US Bancorp DE Grows Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

US Bancorp DE boosted its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 72.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,085 shares of the company’s stock after purchasing an additional 1,300 shares during the period. US Bancorp DE’s holdings in Palomar were worth $292,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLMR. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Palomar during the third quarter valued at approximately $25,000. GAMMA Investing LLC boosted its holdings in Palomar by 48.6% during the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after acquiring an additional 125 shares during the period. International Assets Investment Management LLC bought a new position in Palomar in the 2nd quarter valued at $49,000. DekaBank Deutsche Girozentrale purchased a new stake in Palomar in the first quarter worth $59,000. Finally, Advisors Asset Management Inc. lifted its position in shares of Palomar by 137.1% during the first quarter. Advisors Asset Management Inc. now owns 735 shares of the company’s stock worth $62,000 after purchasing an additional 425 shares during the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Palomar Price Performance

Shares of PLMR stock opened at $101.00 on Thursday. The stock’s 50-day moving average is $95.36 and its 200 day moving average is $89.79. Palomar Holdings, Inc. has a 1-year low of $54.50 and a 1-year high of $107.00. The company has a market cap of $2.67 billion, a P/E ratio of 24.06 and a beta of 0.34.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.20. Palomar had a net margin of 21.55% and a return on equity of 19.65%. The firm had revenue of $148.50 million for the quarter, compared to the consensus estimate of $134.72 million. During the same quarter in the previous year, the firm earned $0.80 EPS. On average, analysts anticipate that Palomar Holdings, Inc. will post 4.32 EPS for the current year.

Insider Transactions at Palomar

In other news, CFO T Christopher Uchida sold 1,750 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $99.00, for a total value of $173,250.00. Following the completion of the sale, the chief financial officer now owns 20,594 shares of the company’s stock, valued at $2,038,806. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Palomar news, CEO Mac Armstrong sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $95.49, for a total transaction of $668,430.00. Following the transaction, the chief executive officer now owns 440,388 shares in the company, valued at approximately $42,052,650.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO T Christopher Uchida sold 1,750 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $99.00, for a total transaction of $173,250.00. Following the completion of the transaction, the chief financial officer now directly owns 20,594 shares of the company’s stock, valued at approximately $2,038,806. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,076 shares of company stock valued at $3,806,029. Corporate insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Evercore ISI upped their price target on shares of Palomar from $90.00 to $99.00 and gave the stock an “in-line” rating in a report on Tuesday, August 6th. Keefe, Bruyette & Woods raised their target price on shares of Palomar from $117.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Piper Sandler boosted their price target on Palomar from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Truist Financial raised their price objective on Palomar from $100.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their target price on Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.00.

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.