Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Sold by Quest Partners LLC

Quest Partners LLC cut its stake in Palomar Holdings, Inc. (NASDAQ:PLMR) by 87.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 342 shares of the company’s stock after selling 2,401 shares during the period. Quest Partners LLC’s holdings in Palomar were worth $28,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of PLMR. Vanguard Group Inc. lifted its stake in shares of Palomar by 1.7% during the first quarter. Vanguard Group Inc. now owns 2,403,520 shares of the company’s stock worth $201,487,000 after buying an additional 40,453 shares during the period. Champlain Investment Partners LLC raised its stake in Palomar by 5.5% in the 1st quarter. Champlain Investment Partners LLC now owns 1,340,795 shares of the company’s stock worth $112,399,000 after acquiring an additional 69,615 shares during the last quarter. Stephens Investment Management Group LLC lifted its position in Palomar by 11.3% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,076,606 shares of the company’s stock worth $59,752,000 after acquiring an additional 109,261 shares during the period. Westfield Capital Management Co. LP grew its stake in Palomar by 6.3% during the 4th quarter. Westfield Capital Management Co. LP now owns 460,545 shares of the company’s stock valued at $25,560,000 after purchasing an additional 27,199 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Palomar by 14.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 421,746 shares of the company’s stock valued at $23,407,000 after purchasing an additional 52,659 shares during the period. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Palomar Price Performance

PLMR opened at $95.01 on Friday. Palomar Holdings, Inc. has a 1 year low of $48.08 and a 1 year high of $100.29. The firm has a fifty day moving average price of $93.54 and a 200 day moving average price of $85.54. The stock has a market cap of $2.38 billion, a P/E ratio of 27.30 and a beta of 0.34.

Palomar (NASDAQ:PLMR) last posted its earnings results on Monday, August 5th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.16. The firm had revenue of $123.08 million for the quarter, compared to analysts’ expectations of $338.74 million. Palomar had a return on equity of 20.83% and a net margin of 21.63%. The company’s quarterly revenue was up 47.0% on a year-over-year basis. During the same period last year, the firm earned $0.72 EPS. Equities analysts expect that Palomar Holdings, Inc. will post 4.37 EPS for the current year.

Insider Buying and Selling at Palomar

In related news, CFO T Christopher Uchida sold 1,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $91.30, for a total value of $91,300.00. Following the completion of the sale, the chief financial officer now owns 24,094 shares of the company’s stock, valued at approximately $2,199,782.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Mac Armstrong sold 12,773 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $88.19, for a total transaction of $1,126,450.87. Following the completion of the sale, the chief executive officer now directly owns 59,309 shares in the company, valued at $5,230,460.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO T Christopher Uchida sold 1,000 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $91.30, for a total transaction of $91,300.00. Following the completion of the sale, the chief financial officer now owns 24,094 shares of the company’s stock, valued at $2,199,782.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,500 shares of company stock valued at $3,795,836. Company insiders own 4.30% of the company’s stock.

Analyst Ratings Changes

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

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.