Los Angeles Capital Management LLC Has $1.31 Million Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Los Angeles Capital Management LLC reduced its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 14.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 23,564 shares of the company’s stock after selling 3,965 shares during the period. Los Angeles Capital Management LLC’s holdings in Palomar were worth $1,308,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Handelsbanken Fonder AB boosted its holdings in Palomar by 72.9% in the fourth quarter. Handelsbanken Fonder AB now owns 7,280 shares of the company’s stock valued at $404,000 after acquiring an additional 3,070 shares during the last quarter. Signaturefd LLC increased its holdings in Palomar by 59.4% in the fourth quarter. Signaturefd LLC now owns 593 shares of the company’s stock valued at $33,000 after purchasing an additional 221 shares during the last quarter. Hunter Associates Investment Management LLC boosted its holdings in Palomar by 21.8% during the fourth quarter. Hunter Associates Investment Management LLC now owns 14,209 shares of the company’s stock worth $787,000 after buying an additional 2,542 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Palomar by 1.9% during the 4th quarter. Federated Hermes Inc. now owns 199,679 shares of the company’s stock worth $11,082,000 after buying an additional 3,737 shares during the period. Finally, Everence Capital Management Inc. acquired a new position in shares of Palomar during the 4th quarter worth about $214,000. Institutional investors own 90.25% of the company’s stock.

Insider Buying and Selling at Palomar

In other Palomar news, President Jon Christianson sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $60.00, for a total value of $120,000.00. Following the completion of the transaction, the president now directly owns 69,521 shares in the company, valued at $4,171,260. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO T Christopher Uchida sold 1,000 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $59.45, for a total value of $59,450.00. Following the transaction, the chief financial officer now directly owns 31,344 shares of the company’s stock, valued at $1,863,400.80. 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 Palomar stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $60.00, for a total transaction of $120,000.00. Following the sale, 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. In the last three months, insiders have sold 42,250 shares of company stock worth $3,305,655. Insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PLMR. Evercore ISI boosted their price objective on shares of Palomar from $68.00 to $86.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. JMP Securities restated a “market perform” rating on shares of Palomar in a research report on Monday, April 15th. Piper Sandler lifted their target price on Palomar from $89.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday. Keefe, Bruyette & Woods increased their price target on Palomar from $88.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, Truist Financial lifted their price objective on Palomar from $88.00 to $97.00 and gave the company a “buy” rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.17.

Palomar Price Performance

PLMR stock opened at $84.76 on Thursday. The stock has a market capitalization of $2.11 billion, a P/E ratio of 24.36 and a beta of 0.24. Palomar Holdings, Inc. has a fifty-two week low of $46.09 and a fifty-two week high of $86.25. The business has a 50-day moving average of $79.43 and a 200-day moving average of $66.89.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.28. The company had revenue of $108.39 million during the quarter, compared to analysts’ expectations of $322.10 million. Palomar had a net margin of 21.78% and a return on equity of 19.94%. The business’s quarterly revenue was up 29.1% on a year-over-year basis. During the same period last year, the business earned $0.80 EPS. Equities analysts expect that Palomar Holdings, Inc. will post 3.84 EPS for the current year.

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.