Lazard Asset Management LLC Purchases 1,023 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Lazard Asset Management LLC boosted its position in Palomar Holdings, Inc. (NASDAQ:PLMRGet Rating) by 118.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,884 shares of the company’s stock after buying an additional 1,023 shares during the period. Lazard Asset Management LLC’s holdings in Palomar were worth $121,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Versor Investments LP bought a new stake in Palomar in the 1st quarter valued at about $203,000. SG Americas Securities LLC increased its position in Palomar by 42.2% in the 1st quarter. SG Americas Securities LLC now owns 4,835 shares of the company’s stock valued at $309,000 after buying an additional 1,434 shares in the last quarter. Swiss National Bank increased its position in Palomar by 7.5% in the 1st quarter. Swiss National Bank now owns 57,100 shares of the company’s stock valued at $3,654,000 after buying an additional 4,000 shares in the last quarter. State of Alaska Department of Revenue increased its position in Palomar by 7.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 18,093 shares of the company’s stock valued at $1,165,000 after buying an additional 1,295 shares in the last quarter. Finally, NBW Capital LLC boosted its stake in Palomar by 25.3% during the 2nd quarter. NBW Capital LLC now owns 84,191 shares of the company’s stock valued at $5,422,000 after purchasing an additional 17,003 shares during the last quarter. 86.83% of the stock is owned by institutional investors.

Palomar Stock Down 1.1 %

Shares of NASDAQ PLMR opened at $59.85 on Wednesday. Palomar Holdings, Inc. has a twelve month low of $44.01 and a twelve month high of $95.20. The stock’s 50 day moving average price is $80.77 and its 200-day moving average price is $71.43. The company has a market capitalization of $1.51 billion, a PE ratio of 30.85 and a beta of 0.02.

Insider Transactions at Palomar

In related news, CEO Mac Armstrong sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $84.90, for a total value of $1,018,800.00. Following the transaction, the chief executive officer now owns 569,388 shares in the company, valued at $48,341,041.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Mac Armstrong sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $84.90, for a total value of $1,018,800.00. Following the transaction, the chief executive officer now owns 569,388 shares in the company, valued at $48,341,041.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Jon Christianson sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, October 14th. The shares were sold at an average price of $93.11, for a total value of $558,660.00. Following the completion of the transaction, the president now owns 84,847 shares in the company, valued at approximately $7,900,104.17. The disclosure for this sale can be found here. Insiders have sold 21,737 shares of company stock worth $1,914,350 in the last 90 days. Insiders own 4.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on PLMR shares. JPMorgan Chase & Co. cut their price target on Palomar from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, November 3rd. JMP Securities downgraded Palomar from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 18th. Truist Financial lifted their price target on Palomar from $86.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, September 22nd. Keefe, Bruyette & Woods downgraded Palomar from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $88.00 to $90.00 in a research note on Tuesday, October 11th. Finally, Barclays cut their price target on Palomar from $102.00 to $93.00 and set an “overweight” rating for the company in a research note on Monday, November 7th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $88.83.

Palomar Company Profile

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Palomar Holdings, Inc, an insurance holding company, provides specialty property insurance to residential and commercial customers. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance, commercial flood, real estate error and omission, and real estate investor products.

See Also

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Institutional Ownership by Quarter for Palomar (NASDAQ:PLMR)

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