Premier Fund Managers Ltd Decreases Stock Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Premier Fund Managers Ltd decreased its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 9.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,057 shares of the company’s stock after selling 1,825 shares during the period. Premier Fund Managers Ltd owned about 0.07% of Palomar worth $1,888,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PLMR. Vanguard Group Inc. increased its position in shares of Palomar by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 2,574,923 shares of the company’s stock worth $271,886,000 after acquiring an additional 53,123 shares during the last quarter. State Street Corp grew its stake in Palomar by 3.0% during the 3rd quarter. State Street Corp now owns 1,097,702 shares of the company’s stock valued at $103,919,000 after purchasing an additional 32,151 shares in the last quarter. American Century Companies Inc. increased its holdings in Palomar by 36.6% during the 4th quarter. American Century Companies Inc. now owns 785,419 shares of the company’s stock worth $82,932,000 after purchasing an additional 210,523 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Palomar by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock valued at $56,822,000 after purchasing an additional 18,335 shares in the last quarter. Finally, Artemis Investment Management LLP boosted its stake in shares of Palomar by 18.7% during the 4th quarter. Artemis Investment Management LLP now owns 455,082 shares of the company’s stock valued at $48,052,000 after buying an additional 71,806 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Palomar Stock Up 1.6 %

PLMR stock opened at $136.60 on Friday. The company has a 50-day simple moving average of $120.41 and a 200 day simple moving average of $107.73. The company has a market capitalization of $3.64 billion, a P/E ratio of 30.49 and a beta of 0.33. Palomar Holdings, Inc. has a fifty-two week low of $74.09 and a fifty-two week high of $137.89.

Palomar (NASDAQ:PLMR) last announced its earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.13. Palomar had a return on equity of 19.76% and a net margin of 21.23%. Equities analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Insider Buying and Selling at Palomar

In related news, CEO Mac Armstrong sold 5,000 shares of Palomar stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $129.72, for a total value of $648,600.00. Following the transaction, the chief executive officer now owns 402,388 shares of the company’s stock, valued at approximately $52,197,771.36. This trade represents a 1.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Angela L. Grant sold 1,505 shares of the business’s stock in a transaction dated Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total value of $159,319.30. Following the sale, the insider now owns 2,534 shares in the company, valued at approximately $268,249.24. The trade was a 37.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,455 shares of company stock valued at $3,911,340. Corporate insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

Palomar 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.