Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Acquired by Fmr LLC

Fmr LLC raised its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 39.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,123 shares of the company’s stock after buying an additional 601 shares during the quarter. Fmr LLC’s holdings in Palomar were worth $201,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PLMR. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Palomar during the 3rd quarter valued at approximately $25,000. GAMMA Investing LLC increased its stake in Palomar by 48.6% during the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after purchasing an additional 125 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Palomar by 490.9% during the third 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 period. International Assets Investment Management LLC acquired a new stake in shares of Palomar during the second quarter worth $49,000. Finally, Covestor Ltd lifted its position in shares of Palomar by 20.2% in the 3rd quarter. Covestor Ltd now owns 1,076 shares of the company’s stock worth $102,000 after buying an additional 181 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

Palomar Trading Up 1.1 %

PLMR opened at $104.93 on Friday. The business’s 50 day moving average is $102.14 and its 200-day moving average is $94.59. The stock has a market cap of $2.78 billion, a PE ratio of 24.92 and a beta of 0.36. Palomar Holdings, Inc. has a twelve month low of $54.50 and a twelve month high of $112.90.

Palomar (NASDAQ:PLMR) last announced its earnings results on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.20. Palomar had a return on equity of 19.65% and a net margin of 21.55%. 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 business earned $0.80 EPS. As a group, analysts forecast that Palomar Holdings, Inc. will post 4.33 EPS for the current year.

Insider Buying and Selling

In related news, CEO Mac Armstrong sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $95.49, for a total transaction of $668,430.00. Following the sale, the chief executive officer now owns 440,388 shares of the company’s stock, valued at $42,052,650.12. The trade was a 1.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO T Christopher Uchida sold 1,030 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $97.65, for a total value of $100,579.50. Following the completion of the sale, the chief financial officer now owns 17,543 shares of the company’s stock, valued at $1,713,073.95. This trade represents a 5.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,356 shares of company stock valued at $2,802,955 over the last 90 days. 4.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Jefferies Financial Group upped their target price on Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Piper Sandler raised their price target on Palomar from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. boosted their price objective on Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Palomar currently has an average rating of “Moderate Buy” and an average target price of $111.67.

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.