Vanguard Group Inc. Has $115.60 Million Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Vanguard Group Inc. boosted its position in Palomar Holdings, Inc. (NASDAQ:PLMRFree Report) by 0.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,277,738 shares of the company’s stock after acquiring an additional 4,506 shares during the period. Vanguard Group Inc. owned 0.09% of Palomar worth $115,595,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Deutsche Bank AG boosted its stake in shares of Palomar by 17.7% in the 3rd quarter. Deutsche Bank AG now owns 13,584 shares of the company’s stock valued at $689,000 after purchasing an additional 2,040 shares during the last quarter. Comerica Bank acquired a new position in shares of Palomar in the 3rd quarter valued at $616,000. Diversified Trust Co boosted its position in shares of Palomar by 17.4% in the 3rd quarter. Diversified Trust Co now owns 6,900 shares of the company’s stock worth $350,000 after purchasing an additional 1,025 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Palomar by 501.2% in the third quarter. The Manufacturers Life Insurance Company now owns 60,136 shares of the company’s stock valued at $3,052,000 after purchasing an additional 50,134 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Palomar by 16.0% during the third quarter. Sei Investments Co. now owns 72,073 shares of the company’s stock worth $3,657,000 after buying an additional 9,931 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Palomar

In other news, President Jon Christianson sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The shares were 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 of the company’s stock, valued at approximately $4,201,140. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Palomar news, President Jon Christianson sold 2,000 shares of the business’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $60.00, for a total transaction of $120,000.00. Following the sale, the president now directly owns 70,019 shares of the company’s stock, valued at approximately $4,201,140. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mac Armstrong sold 7,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $82.62, for a total value of $578,340.00. Following the completion of the transaction, the chief executive officer now owns 475,388 shares of the company’s stock, valued at approximately $39,276,556.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,509 shares of company stock valued at $2,950,557. 4.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

View Our Latest Research Report on PLMR

Palomar Stock Up 1.3 %

Shares of NASDAQ:PLMR opened at $82.64 on Thursday. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 26.49 and a beta of 0.21. Palomar Holdings, Inc. has a 12 month low of $46.09 and a 12 month high of $86.25. The company’s fifty day simple moving average is $72.70 and its 200 day simple moving average is $61.98.

Palomar (NASDAQ:PLMRGet Free Report) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.09. The firm had revenue of $102.35 million for the quarter, compared to the consensus estimate of $95.07 million. Palomar had a return on equity of 19.35% and a net margin of 21.07%. Research analysts expect that Palomar Holdings, Inc. will post 3.82 earnings per share for the current fiscal year.

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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