Palomar Holdings, Inc. (NASDAQ:PLMR) is Atlas Capital Advisors Inc.’s 6th Largest Position

Atlas Capital Advisors Inc. grew its stake in Palomar Holdings, Inc. (NASDAQ:PLMR) by 175.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 141,284 shares of the company’s stock after purchasing an additional 90,000 shares during the period. Palomar comprises approximately 1.9% of Atlas Capital Advisors Inc.’s investment portfolio, making the stock its 6th largest holding. Atlas Capital Advisors Inc. owned 0.53% of Palomar worth $14,918,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, CFO T Christopher Uchida sold 1,000 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $139.00, for a total transaction of $139,000.00. Following the completion of the sale, the chief financial officer now directly owns 10,172 shares in the company, valued at approximately $1,413,908. This trade represents a 8.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mac Armstrong sold 7,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $109.76, for a total transaction of $768,320.00. Following the completion of the sale, the chief executive officer now directly owns 412,388 shares of the company’s stock, valued at approximately $45,263,706.88. This trade represents a 1.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,097 shares of company stock worth $3,271,422. 4.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Keefe, Bruyette & Woods raised their price objective on Palomar from $152.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, March 21st. JMP Securities reissued a “market perform” rating on shares of Palomar in a report on Thursday, February 13th. Piper Sandler increased their price objective on shares of Palomar from $133.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, Truist Financial lifted their target price on shares of Palomar from $112.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $127.83.

Palomar Stock Up 2.3 %

Palomar stock opened at $141.72 on Thursday. The company has a fifty day simple moving average of $122.73 and a 200-day simple moving average of $109.08. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 31.63 and a beta of 0.33. Palomar Holdings, Inc. has a 52-week low of $74.09 and a 52-week high of $142.18.

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

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.