Yousif Capital Management LLC Sells 256 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Yousif Capital Management LLC lessened its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,093 shares of the company’s stock after selling 256 shares during the quarter. Yousif Capital Management LLC’s holdings in Palomar were worth $727,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PLMR. Westfield Capital Management Co. LP increased its stake in Palomar by 26.0% in 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. International Assets Investment Management LLC increased its stake in Palomar by 375,455.6% in the fourth quarter. International Assets Investment Management LLC now owns 33,800 shares of the company’s stock valued at $1,876,000 after acquiring an additional 33,791 shares during the last quarter. Oak Ridge Investments LLC increased its stake in Palomar by 29.9% in the fourth quarter. Oak Ridge Investments LLC now owns 64,893 shares of the company’s stock valued at $3,602,000 after acquiring an additional 14,940 shares during the last quarter. Illinois Municipal Retirement Fund bought a new position in Palomar in the third quarter valued at $741,000. Finally, Louisiana State Employees Retirement System bought a new position in Palomar in the fourth quarter valued at $688,000. Institutional investors own 90.25% of the company’s stock.

Insiders Place Their Bets

In other Palomar news, CFO T Christopher Uchida sold 750 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $74.36, for a total value of $55,770.00. Following the completion of the sale, the chief financial officer now directly owns 29,844 shares in the company, valued at $2,219,199.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Palomar news, CFO T Christopher Uchida sold 750 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $74.36, for a total transaction of $55,770.00. Following the completion of the transaction, the chief financial officer now owns 29,844 shares of the company’s stock, valued at $2,219,199.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Jon Christianson sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $60.00, for a total transaction of $120,000.00. Following the transaction, the president now directly owns 69,521 shares of the company’s stock, valued at approximately $4,171,260. The disclosure for this sale can be found here. Insiders sold 42,250 shares of company stock worth $3,305,655 over the last three months. Company insiders own 4.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on PLMR. JPMorgan Chase & Co. lowered shares of Palomar from an “overweight” rating to a “neutral” rating and upped their price target for the company from $79.00 to $85.00 in a research report on Monday, April 8th. Jefferies Financial Group upgraded shares of Palomar from a “hold” rating to a “buy” rating and upped their price target for the company from $78.00 to $88.00 in a research report on Thursday, March 14th. Keefe, Bruyette & Woods upped their price target on shares of Palomar from $88.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Truist Financial upped their price target 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, JMP Securities restated a “market perform” rating on shares of Palomar in a research report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Palomar presently has an average rating of “Moderate Buy” and an average target price of $87.50.

Palomar Trading Up 3.7 %

Palomar stock opened at $80.82 on Monday. The firm has a 50-day moving average of $78.87 and a 200-day moving average of $66.28. The firm has a market cap of $2.01 billion, a P/E ratio of 23.22 and a beta of 0.24. 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 Thursday, May 2nd. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.28. The company had revenue of $108.39 million during the quarter, compared to analyst estimates of $322.10 million. Palomar had a net margin of 21.78% and a return on equity of 20.70%. Palomar’s revenue for the quarter was up 29.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.80 earnings per share. Research analysts forecast that Palomar Holdings, Inc. will post 3.84 earnings per share 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.