Vanguard Group Inc. Has $271.89 Million Stock Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Vanguard Group Inc. grew its stake in Palomar Holdings, Inc. (NASDAQ:PLMR) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,574,923 shares of the company’s stock after buying an additional 53,123 shares during the quarter. Vanguard Group Inc. owned 9.73% of Palomar worth $271,886,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. LPL Financial LLC boosted its stake in Palomar by 6.7% in the 4th quarter. LPL Financial LLC now owns 3,082 shares of the company’s stock worth $325,000 after purchasing an additional 194 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Palomar during the fourth quarter worth about $591,000. American Century Companies Inc. boosted its position in shares of Palomar by 36.6% during the fourth quarter. American Century Companies Inc. now owns 785,419 shares of the company’s stock worth $82,932,000 after buying an additional 210,523 shares during the period. Trillium Asset Management LLC bought a new position in shares of Palomar during the fourth quarter worth about $4,599,000. Finally, Cibc World Markets Corp acquired a new stake in Palomar in the 4th quarter valued at approximately $254,000. Institutional investors own 90.25% of the company’s stock.

Palomar Stock Performance

Shares of PLMR stock opened at $133.28 on Friday. Palomar Holdings, Inc. has a 52-week low of $74.09 and a 52-week high of $143.77. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 29.75 and a beta of 0.46. The firm’s 50-day moving average is $124.14 and its 200-day moving average is $109.57.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.37 earnings per share (EPS) 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%. Sell-side analysts predict that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Insider Buying and Selling at Palomar

In other Palomar news, insider Angela L. Grant sold 717 shares of the firm’s stock in a transaction that occurred on Sunday, January 26th. The shares were sold at an average price of $101.70, for a total transaction of $72,918.90. Following the completion of the sale, the insider now directly owns 2,951 shares in the company, valued at $300,116.70. This trade represents a 19.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mac Armstrong sold 3,154 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $109.27, for a total value of $344,637.58. Following the completion of the transaction, the chief executive officer now directly owns 60,032 shares in the company, valued at $6,559,696.64. The trade was a 4.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,097 shares of company stock valued at $3,271,422 in the last quarter. 4.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PLMR shares. Keefe, Bruyette & Woods raised their price target on shares of Palomar from $152.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, March 21st. Truist Financial raised their target price on shares of Palomar from $112.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Piper Sandler boosted their price target on shares of Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, JMP Securities restated a “market perform” rating on shares of Palomar in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Palomar has a consensus rating of “Moderate Buy” and an average price target of $127.83.

Palomar 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.