Palomar Holdings, Inc. (NASDAQ:PLMR) Position Trimmed by Premier Fund Managers Ltd

Premier Fund Managers Ltd trimmed its stake in Palomar Holdings, Inc. (NASDAQ:PLMR) by 9.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,057 shares of the company’s stock after selling 1,825 shares during the quarter. Premier Fund Managers Ltd’s holdings in Palomar were worth $1,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in PLMR. American Century Companies Inc. lifted its position in Palomar by 36.6% in the 4th quarter. American Century Companies Inc. now owns 785,419 shares of the company’s stock worth $82,932,000 after buying an additional 210,523 shares in the last quarter. Norges Bank acquired a new position in shares of Palomar in the fourth quarter worth $20,637,000. Point72 Asset Management L.P. purchased a new stake in shares of Palomar during the third quarter worth $10,994,000. Soros Fund Management LLC acquired a new stake in Palomar during the third quarter valued at $9,467,000. Finally, Artemis Investment Management LLP grew its stake in Palomar by 18.7% in 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 in the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. JMP Securities reiterated a “market perform” rating on shares of Palomar in a report on Thursday, February 13th. Piper Sandler boosted their target price 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. Keefe, Bruyette & Woods increased their price target on shares of Palomar from $152.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, March 21st. Finally, Truist Financial lifted their price objective 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. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $127.83.

Insider Transactions at Palomar

In other Palomar news, CFO T Christopher Uchida sold 552 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $123.26, for a total value of $68,039.52. Following the completion of the transaction, the chief financial officer now owns 15,683 shares of the company’s stock, valued at $1,933,086.58. This represents a 3.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mac Armstrong sold 4,170 shares of Palomar stock in a transaction that occurred on Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total value of $441,436.20. Following the sale, the chief executive officer now directly owns 56,936 shares in the company, valued at $6,027,244.96. The trade was a 6.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,455 shares of company stock worth $3,911,340 over the last three months. 4.30% of the stock is currently owned by insiders.

Palomar Trading Up 1.6 %

NASDAQ:PLMR opened at $136.60 on Friday. The firm has a market capitalization of $3.64 billion, a PE ratio of 30.49 and a beta of 0.33. Palomar Holdings, Inc. has a 1 year low of $74.09 and a 1 year high of $137.89. The firm’s fifty day simple moving average is $120.41 and its 200 day simple moving average is $107.73.

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