US Bancorp DE Sells 1,470 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

US Bancorp DE reduced its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 47.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,615 shares of the company’s stock after selling 1,470 shares during the period. US Bancorp DE’s holdings in Palomar were worth $171,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PLMR. Victory Capital Management Inc. boosted its holdings in shares of Palomar by 7.4% during the 3rd quarter. Victory Capital Management Inc. now owns 190,742 shares of the company’s stock worth $18,058,000 after buying an additional 13,064 shares during the period. Natixis Advisors LLC acquired a new position in Palomar during the 3rd quarter valued at $1,007,000. Thrivent Financial for Lutherans raised its stake in Palomar by 58.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 32,837 shares of the company’s stock valued at $3,109,000 after purchasing an additional 12,147 shares during the last quarter. Quest Partners LLC raised its stake in Palomar by 1,122.5% during the 3rd quarter. Quest Partners LLC now owns 4,181 shares of the company’s stock valued at $396,000 after purchasing an additional 3,839 shares during the last quarter. Finally, Premier Fund Managers Ltd raised its stake in Palomar by 4.7% during the 3rd quarter. Premier Fund Managers Ltd now owns 19,882 shares of the company’s stock valued at $1,887,000 after purchasing an additional 900 shares during the last quarter. 90.25% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO T Christopher Uchida sold 552 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $123.26, for a total transaction of $68,039.52. Following the transaction, the chief financial officer now directly owns 15,683 shares in the company, valued at approximately $1,933,086.58. This represents a 3.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Jon Christianson sold 819 shares of the company’s stock in a transaction that occurred on Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total transaction of $86,699.34. Following the transaction, the president now owns 55,126 shares in the company, valued at $5,835,638.36. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,485 shares of company stock valued at $4,098,195. 4.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PLMR has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Palomar from $136.00 to $152.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Truist Financial upped their target price on shares of Palomar from $112.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, February 14th. JMP Securities reiterated a “market perform” rating on shares of Palomar in a research note on Thursday, February 13th. Finally, Piper Sandler increased their price objective on shares of Palomar from $133.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $127.33.

Palomar Stock Up 3.4 %

Shares of PLMR stock opened at $131.77 on Friday. The company has a market capitalization of $3.52 billion, a P/E ratio of 29.41 and a beta of 0.33. Palomar Holdings, Inc. has a 12-month low of $74.09 and a 12-month high of $136.90. The firm has a 50-day moving average price of $115.48 and a 200 day moving average price of $105.59.

Palomar (NASDAQ:PLMR) last posted its earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. As a group, research analysts expect that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

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.