Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 6.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 271,749 shares of the company’s stock after selling 18,729 shares during the quarter. Bank of New York Mellon Corp owned 1.09% of Palomar worth $15,772,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PLMR. UBS Group AG lifted its holdings in Palomar by 7,440.0% during the 3rd quarter. UBS Group AG now owns 377 shares of the company’s stock worth $32,000 after buying an additional 372 shares in the last quarter. FMR LLC increased its position in shares of Palomar by 89.9% in the 1st quarter. FMR LLC now owns 864 shares of the company’s stock valued at $48,000 after purchasing an additional 409 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Palomar in the 1st quarter valued at approximately $55,000. Advisor Group Holdings Inc. increased its position in shares of Palomar by 34.1% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,470 shares of the company’s stock valued at $94,000 after purchasing an additional 374 shares during the last quarter. Finally, Dark Forest Capital Management LP increased its position in shares of Palomar by 710.5% in the 1st quarter. Dark Forest Capital Management LP now owns 1,848 shares of the company’s stock valued at $102,000 after purchasing an additional 1,620 shares during the last quarter. 88.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Palomar

In related news, CFO T Christopher Uchida sold 2,000 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $56.80, for a total value of $113,600.00. Following the transaction, the chief financial officer now directly owns 25,365 shares of the company’s stock, valued at approximately $1,440,732. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO T Christopher Uchida sold 2,000 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $56.80, for a total value of $113,600.00. Following the transaction, the chief financial officer now directly owns 25,365 shares of the company’s stock, valued at approximately $1,440,732. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Angela L. Grant sold 1,712 shares of the stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $56.60, for a total transaction of $96,899.20. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Palomar Price Performance

NASDAQ PLMR opened at $60.24 on Wednesday. The firm’s fifty day moving average price is $52.13 and its 200 day moving average price is $53.83. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 21.44 and a beta of 0.10. Palomar Holdings, Inc. has a 12 month low of $43.63 and a 12 month high of $67.28.

Analyst Ratings Changes

Separately, Jefferies Financial Group dropped their price objective on shares of Palomar from $59.00 to $56.00 and set a “hold” rating on the stock in a research report on Thursday, September 7th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.50.

About Palomar

Palomar Holdings, Inc, an insurance holding 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.