Charles Schwab Investment Management Inc. Buys 5,897 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Charles Schwab Investment Management Inc. lifted its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMRFree Report) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 201,759 shares of the company’s stock after acquiring an additional 5,897 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.82% of Palomar worth $11,198,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PLMR. Signaturefd LLC boosted its holdings in Palomar by 59.4% during the fourth quarter. Signaturefd LLC now owns 593 shares of the company’s stock worth $33,000 after purchasing an additional 221 shares during the last quarter. Everence Capital Management Inc. acquired a new position in Palomar during the fourth quarter worth $214,000. Raymond James & Associates acquired a new position in Palomar during the fourth quarter worth $293,000. Dark Forest Capital Management LP acquired a new position in Palomar during the third quarter worth $273,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Palomar by 13.4% during the third quarter. PNC Financial Services Group Inc. now owns 6,107 shares of the company’s stock worth $310,000 after purchasing an additional 720 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

Palomar Stock Performance

NASDAQ PLMR opened at $84.34 on Thursday. The firm has a 50-day moving average of $81.26 and a 200-day moving average of $70.02. The stock has a market cap of $2.10 billion, a PE ratio of 24.24 and a beta of 0.24. Palomar Holdings, Inc. has a 52-week low of $46.67 and a 52-week high of $89.22.

Palomar (NASDAQ:PLMRGet Free Report) last posted its earnings results on Thursday, May 2nd. The company reported $1.09 earnings per share (EPS) 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 analysts’ expectations of $322.10 million. Palomar had a net margin of 21.78% and a return on equity of 19.94%. Palomar’s quarterly revenue was up 29.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.80 EPS. As a group, analysts predict that Palomar Holdings, Inc. will post 4.03 EPS for the current fiscal year.

Insider Transactions at Palomar

In related news, CFO T Christopher Uchida sold 1,250 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $89.00, for a total transaction of $111,250.00. Following the transaction, the chief financial officer now directly owns 24,094 shares of the company’s stock, valued at $2,144,366. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO T Christopher Uchida sold 1,250 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $89.00, for a total transaction of $111,250.00. Following the transaction, the chief financial officer now directly owns 24,094 shares of the company’s stock, valued at $2,144,366. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas A. Bradley purchased 1,500 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were acquired at an average cost of $74.30 per share, for a total transaction of $111,450.00. Following the completion of the transaction, the director now owns 1,500 shares of the company’s stock, valued at approximately $111,450. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 40,750 shares of company stock worth $3,314,505. 4.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PLMR has been the subject of several recent research reports. Truist Financial increased their target price on shares of Palomar from $97.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday. JMP Securities reiterated a “market perform” rating on shares of Palomar in a research note on Monday, April 15th. Jefferies Financial Group upgraded shares of Palomar from a “hold” rating to a “buy” rating and increased their price target for the company from $78.00 to $88.00 in a research note on Thursday, March 14th. Piper Sandler reiterated an “overweight” rating and issued a $99.00 price target (up previously from $90.00) on shares of Palomar in a research note on Wednesday. Finally, Keefe, Bruyette & Woods increased their price target on shares of Palomar from $93.00 to $96.00 and gave the company an “outperform” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Palomar has a consensus rating of “Moderate Buy” and an average price target of $92.83.

Read Our Latest Stock Analysis on PLMR

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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