Farther Finance Advisors LLC Purchases 99 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Farther Finance Advisors LLC boosted its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 21.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 554 shares of the company’s stock after purchasing an additional 99 shares during the period. Farther Finance Advisors LLC’s holdings in Palomar were worth $58,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new position in Palomar in the third quarter valued at about $10,994,000. Soros Fund Management LLC acquired a new stake in shares of Palomar in the 3rd quarter valued at approximately $9,467,000. Westfield Capital Management Co. LP boosted its stake in Palomar by 24.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 394,408 shares of the company’s stock worth $37,339,000 after acquiring an additional 77,552 shares during the last quarter. Artemis Investment Management LLP grew its holdings in Palomar by 18.7% during the fourth quarter. Artemis Investment Management LLP now owns 455,082 shares of the company’s stock valued at $48,052,000 after purchasing an additional 71,806 shares during the period. Finally, Barclays PLC increased its stake in Palomar by 112.6% in the third quarter. Barclays PLC now owns 71,803 shares of the company’s stock valued at $6,798,000 after purchasing an additional 38,027 shares in the last quarter. 90.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PLMR has been the topic of several recent analyst reports. JMP Securities reiterated a “market perform” rating on shares of Palomar in a report on Thursday, February 13th. Keefe, Bruyette & Woods lifted their price target on shares of Palomar from $152.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday. Piper Sandler increased their price objective 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, Truist Financial raised their price objective on shares of Palomar from $112.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $127.83.

Insider Buying and Selling

In other Palomar news, President Jon Christianson sold 819 shares of the company’s stock in a transaction on Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total transaction of $86,699.34. Following the sale, the president now owns 55,126 shares of the company’s stock, valued at approximately $5,835,638.36. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan Knutzen sold 282 shares of Palomar stock in a transaction on Friday, January 31st. The shares were sold at an average price of $104.46, for a total transaction of $29,457.72. Following the completion of the sale, the insider now owns 20,098 shares of the company’s stock, valued at $2,099,437.08. This represents a 1.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,455 shares of company stock worth $4,632,620 in the last 90 days. Insiders own 4.30% of the company’s stock.

Palomar Stock Down 1.1 %

PLMR opened at $129.32 on Friday. Palomar Holdings, Inc. has a twelve month low of $74.09 and a twelve month high of $136.90. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 28.87 and a beta of 0.33. The company has a 50-day simple moving average of $118.05 and a 200 day simple moving average of $106.71.

Palomar (NASDAQ:PLMR) last released its earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share for the quarter, topping 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 anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

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.