Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. lifted its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMRFree Report) by 0.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,277,738 shares of the company’s stock after purchasing an additional 4,506 shares during the quarter. Vanguard Group Inc. owned about 9.22% of Palomar worth $115,595,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. New York State Common Retirement Fund raised its position in shares of Palomar by 1.8% during the 3rd quarter. New York State Common Retirement Fund now owns 10,099 shares of the company’s stock worth $513,000 after buying an additional 182 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Palomar by 1.9% during the second quarter. The Manufacturers Life Insurance Company now owns 10,002 shares of the company’s stock worth $581,000 after purchasing an additional 190 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Palomar by 3.8% in the second quarter. PNC Financial Services Group Inc. now owns 5,387 shares of the company’s stock worth $313,000 after purchasing an additional 198 shares during the period. Handelsbanken Fonder AB boosted its stake in Palomar by 5.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 4,210 shares of the company’s stock valued at $214,000 after purchasing an additional 210 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in Palomar by 0.9% during the 3rd quarter. Los Angeles Capital Management LLC now owns 27,529 shares of the company’s stock valued at $1,397,000 after purchasing an additional 256 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Palomar Price Performance

Shares of PLMR opened at $82.64 on Thursday. Palomar Holdings, Inc. has a one year low of $46.09 and a one year high of $86.25. The company has a 50-day moving average of $72.70 and a two-hundred day moving average of $61.98. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 26.49 and a beta of 0.21.

Palomar (NASDAQ:PLMRGet Free Report) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.09. Palomar had a net margin of 21.07% and a return on equity of 19.35%. The firm had revenue of $102.35 million during the quarter, compared to analyst estimates of $95.07 million. Analysts anticipate that Palomar Holdings, Inc. will post 3.82 earnings per share for the current year.

Insider Transactions at Palomar

In related news, President Jon Christianson sold 2,000 shares of the company’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $60.00, for a total transaction of $120,000.00. Following the transaction, the president now directly owns 70,019 shares of the company’s stock, valued at $4,201,140. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Palomar news, CFO T Christopher Uchida sold 1,000 shares of Palomar stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $60.30, for a total transaction of $60,300.00. Following the completion of the sale, the chief financial officer now owns 29,686 shares of the company’s stock, valued at approximately $1,790,065.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Jon Christianson sold 2,000 shares of the company’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $60.00, for a total transaction of $120,000.00. Following the completion of the transaction, the president now directly owns 70,019 shares in the company, valued at $4,201,140. The disclosure for this sale can be found here. Insiders sold a total of 39,509 shares of company stock valued at $2,950,557 over the last quarter. Company insiders own 4.40% of the company’s stock.

Analysts Set New Price Targets

PLMR has been the subject of several research reports. Jefferies Financial Group raised Palomar from a “hold” rating to a “buy” rating and raised their target price for the company from $78.00 to $88.00 in a research note on Thursday, March 14th. Piper Sandler lifted their price objective on shares of Palomar from $80.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday. Keefe, Bruyette & Woods increased their target price on shares of Palomar from $73.00 to $87.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st. Evercore ISI raised their target price on shares of Palomar from $66.00 to $68.00 and gave the stock an “in-line” rating in a report on Thursday, February 15th. Finally, Truist Financial upped their price target on Palomar from $72.00 to $88.00 and gave the company a “buy” rating in a report on Friday, February 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.50.

Get Our Latest Research Report on PLMR

Palomar Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Palomar (NASDAQ:PLMR)

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