Palomar Holdings, Inc. (NASDAQ:PLMR) Stock Position Increased by Atlas Capital Advisors Inc.

Atlas Capital Advisors Inc. lifted its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 175.5% during the 4th quarter, Holdings Channel reports. The firm owned 141,284 shares of the company’s stock after buying an additional 90,000 shares during the period. Palomar makes up about 1.9% of Atlas Capital Advisors Inc.’s holdings, making the stock its 6th biggest position. Atlas Capital Advisors Inc.’s holdings in Palomar were worth $14,918,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Blue Trust Inc. acquired a new stake in Palomar during the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC grew its stake in shares of Palomar by 536.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 414 shares of the company’s stock worth $43,000 after acquiring an additional 349 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Palomar by 63.2% during the fourth quarter. Jones Financial Companies Lllp now owns 493 shares of the company’s stock worth $52,000 after acquiring an additional 191 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Palomar by 21.8% in the fourth quarter. Farther Finance Advisors LLC now owns 554 shares of the company’s stock valued at $58,000 after acquiring an additional 99 shares in the last quarter. Finally, KBC Group NV boosted its holdings in Palomar by 44.9% in the fourth quarter. KBC Group NV now owns 1,045 shares of the company’s stock valued at $110,000 after purchasing an additional 324 shares during the period. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PLMR shares. Truist Financial upped their price target on Palomar from $112.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Keefe, Bruyette & Woods boosted their price objective on Palomar from $152.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, March 21st. JMP Securities reaffirmed a “market perform” rating on shares of Palomar in a report on Thursday, February 13th. Finally, Piper Sandler boosted their price target on shares of Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a report 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 data from MarketBeat.com, Palomar has a consensus rating of “Moderate Buy” and an average price target of $127.83.

Palomar Stock Performance

PLMR opened at $141.72 on Thursday. Palomar Holdings, Inc. has a one year low of $74.09 and a one year high of $142.18. The company has a market cap of $3.78 billion, a P/E ratio of 31.63 and a beta of 0.33. The business’s 50-day simple moving average is $122.73 and its 200-day simple moving average is $109.08.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.37 EPS for the quarter, beating the consensus estimate 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, analysts predict that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Insider Activity at Palomar

In related news, CFO T Christopher Uchida sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $139.00, for a total transaction of $139,000.00. Following the transaction, the chief financial officer now owns 10,172 shares in the company, valued at $1,413,908. This trade represents a 8.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mac Armstrong sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $129.72, for a total value of $648,600.00. Following the completion of the sale, the chief executive officer now owns 402,388 shares of the company’s stock, valued at approximately $52,197,771.36. This represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,097 shares of company stock valued at $3,271,422 in the last ninety days. 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.