Strs Ohio Sells 700 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Strs Ohio decreased its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 5.2% in the fourth quarter, HoldingsChannel reports. The fund owned 12,700 shares of the company’s stock after selling 700 shares during the quarter. Strs Ohio’s holdings in Palomar were worth $704,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC lifted its position in Palomar by 0.9% during the third quarter. Los Angeles Capital Management LLC now owns 27,529 shares of the company’s stock valued at $1,397,000 after acquiring an additional 256 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in Palomar by 26.0% during the third quarter. Westfield Capital Management Co. LP now owns 433,346 shares of the company’s stock valued at $21,992,000 after acquiring an additional 89,410 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Palomar by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 195,862 shares of the company’s stock valued at $9,940,000 after acquiring an additional 6,903 shares during the last quarter. Barclays PLC lifted its position in Palomar by 11.2% during the third quarter. Barclays PLC now owns 15,059 shares of the company’s stock valued at $764,000 after acquiring an additional 1,514 shares during the last quarter. Finally, Trexquant Investment LP purchased a new stake in Palomar during the third quarter valued at approximately $538,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Insider Activity at Palomar

In related news, CEO Mac Armstrong sold 7,000 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $82.62, for a total transaction of $578,340.00. Following the completion of the transaction, the chief executive officer now directly owns 475,388 shares in the company, valued at $39,276,556.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Palomar news, CEO Mac Armstrong sold 7,000 shares of Palomar stock in a transaction on 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 $39,276,556.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Jon Christianson sold 2,000 shares of Palomar stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $76.30, for a total transaction of $152,600.00. Following the completion of the transaction, the president now directly owns 57,761 shares of the company’s stock, valued at approximately $4,407,164.30. The disclosure for this sale can be found here. Insiders sold 46,086 shares of company stock worth $3,533,932 over the last three months. Company insiders own 4.30% of the company’s stock.

Palomar Price Performance

NASDAQ PLMR opened at $81.15 on Friday. The company has a market capitalization of $2.02 billion, a PE ratio of 26.01 and a beta of 0.21. The company has a fifty day moving average of $78.30 and a 200 day moving average of $64.93. Palomar Holdings, Inc. has a 1 year low of $46.09 and a 1 year high of $86.25.

Palomar (NASDAQ:PLMR) last posted its earnings results on Wednesday, February 14th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.09. The company had revenue of $102.35 million during the quarter, compared to the consensus estimate of $95.07 million. Palomar had a net margin of 21.07% and a return on equity of 19.35%. Research analysts expect that Palomar Holdings, Inc. will post 3.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PLMR shares. Jefferies Financial Group upgraded shares of Palomar from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $78.00 to $88.00 in a research note on Thursday, March 14th. JMP Securities reiterated a “market perform” rating on shares of Palomar in a research note on Monday, April 15th. Keefe, Bruyette & Woods lifted their price objective on shares of Palomar from $88.00 to $89.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Truist Financial lifted their price objective on shares of Palomar from $72.00 to $88.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, Evercore ISI lifted their price objective on shares of Palomar from $68.00 to $86.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $87.50.

About Palomar

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.