Blair William & Co. IL Has $12.64 Million Stake in Palomar Holdings, Inc. (NASDAQ:PLMR)

Blair William & Co. IL reduced its stake in Palomar Holdings, Inc. (NASDAQ:PLMR) by 3.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 155,739 shares of the company’s stock after selling 5,234 shares during the period. Blair William & Co. IL owned about 0.62% of Palomar worth $12,638,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PLMR. Charles Schwab Investment Management Inc. boosted its holdings in shares of Palomar by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 201,759 shares of the company’s stock valued at $11,198,000 after acquiring an additional 5,897 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Palomar during the fourth quarter valued at about $328,000. BNP Paribas Financial Markets grew its holdings in shares of Palomar by 26.9% during the fourth quarter. BNP Paribas Financial Markets now owns 31,612 shares of the company’s stock worth $1,754,000 after purchasing an additional 6,709 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Palomar in the fourth quarter valued at approximately $379,000. Finally, Dimensional Fund Advisors LP raised its holdings in Palomar by 14.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 421,746 shares of the company’s stock valued at $23,407,000 after buying an additional 52,659 shares during the last quarter. 90.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PLMR shares. Keefe, Bruyette & Woods lifted their price target on shares of Palomar from $96.00 to $113.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Piper Sandler lifted their target price on Palomar from $99.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Evercore ISI increased their price target on Palomar from $90.00 to $99.00 and gave the company an “in-line” rating in a research note on Tuesday, August 6th. Truist Financial lifted their price objective on Palomar from $100.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their target price on Palomar from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $101.33.

Insider Activity

In other news, CEO Mac Armstrong sold 12,227 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $91.08, for a total value of $1,113,635.16. Following the completion of the sale, the chief executive officer now directly owns 47,082 shares in the company, valued at approximately $4,288,228.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO T Christopher Uchida sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $91.30, for a total transaction of $91,300.00. Following the transaction, the chief financial officer now directly owns 24,094 shares of the company’s stock, valued at $2,199,782.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mac Armstrong sold 12,227 shares of Palomar stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $91.08, for a total transaction of $1,113,635.16. Following the completion of the sale, the chief executive officer now directly owns 47,082 shares of the company’s stock, valued at approximately $4,288,228.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,500 shares of company stock worth $3,795,836. Company insiders own 4.30% of the company’s stock.

Palomar Price Performance

NASDAQ PLMR opened at $96.74 on Friday. Palomar Holdings, Inc. has a one year low of $48.08 and a one year high of $100.29. The business has a 50 day simple moving average of $93.36 and a 200 day simple moving average of $85.39. The stock has a market capitalization of $2.41 billion, a P/E ratio of 27.80 and a beta of 0.34.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data on Monday, August 5th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.16. The company had revenue of $123.08 million during the quarter, compared to analyst estimates of $338.74 million. Palomar had a net margin of 21.63% and a return on equity of 20.83%. Palomar’s revenue for the quarter was up 47.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 EPS. Equities analysts expect that Palomar Holdings, Inc. will post 4.37 earnings per share for the current year.

About Palomar

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.