Crossmark Global Holdings Inc. Makes New Investment in Palomar Holdings, Inc. (NASDAQ:PLMR)

Crossmark Global Holdings Inc. purchased a new position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,955 shares of the company’s stock, valued at approximately $206,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Palomar during the 3rd quarter valued at about $25,000. GAMMA Investing LLC boosted its holdings in Palomar by 48.6% in the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $36,000 after buying an additional 125 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Palomar by 490.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $43,000 after buying an additional 378 shares during the last quarter. Covestor Ltd boosted its holdings in 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. Finally, Avanza Fonder AB acquired a new stake in Palomar in the 4th quarter worth about $143,000. 90.25% of the stock is owned by institutional investors and hedge funds.

Palomar Trading Up 2.7 %

Shares of PLMR opened at $106.24 on Tuesday. The firm’s 50-day moving average is $106.96 and its two-hundred day moving average is $98.82. Palomar Holdings, Inc. has a twelve month low of $57.55 and a twelve month high of $112.90. The firm has a market capitalization of $2.81 billion, a P/E ratio of 25.24 and a beta of 0.38.

Palomar (NASDAQ:PLMR) last released its quarterly earnings results on Monday, November 4th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.03 by $0.20. Palomar had a net margin of 21.55% and a return on equity of 19.65%. The business had revenue of $148.50 million for the quarter, compared to analyst estimates of $134.72 million. During the same period in the prior year, the business earned $0.80 earnings per share. Analysts predict that Palomar Holdings, Inc. will post 4.33 EPS for the current year.

Analyst Upgrades and Downgrades

PLMR has been the topic of several research analyst reports. Piper Sandler lifted their price objective on Palomar from $119.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Jefferies Financial Group raised their target price on shares of Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised their target price on shares of Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods raised their target price 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. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $115.50.

Insiders Place Their Bets

In other Palomar news, President Jon Christianson sold 2,195 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $104.10, for a total transaction of $228,499.50. Following the completion of the transaction, the president now directly owns 51,926 shares of the company’s stock, valued at $5,405,496.60. This trade represents a 4.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO T Christopher Uchida sold 1,030 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $109.65, for a total transaction of $112,939.50. Following the sale, the chief financial officer now directly owns 16,258 shares of the company’s stock, valued at approximately $1,782,689.70. This represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,878 shares of company stock valued at $3,184,314 over the last quarter. Company insiders own 4.30% of the company’s stock.

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.