PNC Financial Services Group Inc. Has $300,000 Stake in Palomar Holdings, Inc. (NASDAQ:PLMR)

PNC Financial Services Group Inc. decreased its holdings in Palomar Holdings, Inc. (NASDAQ:PLMRFree Report) by 11.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,407 shares of the company’s stock after selling 700 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Palomar were worth $300,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PLMR. Signaturefd LLC raised its position in Palomar by 59.4% in the 4th 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. Picton Mahoney Asset Management bought a new position in Palomar in the 4th quarter valued at $108,000. Everence Capital Management Inc. bought a new position in Palomar in the 4th quarter valued at $214,000. Dark Forest Capital Management LP bought a new position in Palomar in the 3rd quarter valued at $273,000. Finally, Raymond James & Associates bought a new position in Palomar in the 4th quarter valued at $293,000. Institutional investors own 90.25% of the company’s stock.

Palomar Price Performance

PLMR stock opened at $83.06 on Thursday. The stock has a market capitalization of $2.07 billion, a P/E ratio of 23.87 and a beta of 0.32. The business has a 50-day moving average of $81.43 and a 200-day moving average of $70.90. Palomar Holdings, Inc. has a fifty-two week low of $48.08 and a fifty-two week high of $89.22.

Palomar (NASDAQ:PLMRGet Free Report) last released its earnings results on Thursday, May 2nd. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.28. Palomar had a return on equity of 19.94% and a net margin of 21.78%. The business had revenue of $108.39 million for the quarter, compared to analyst estimates of $322.10 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. Palomar’s revenue was up 29.1% on a year-over-year basis. Equities analysts expect that Palomar Holdings, Inc. will post 4.18 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PLMR shares. Piper Sandler reiterated an “overweight” rating and issued a $99.00 price objective (up previously from $90.00) on shares of Palomar in a research report on Wednesday, May 29th. Keefe, Bruyette & Woods boosted their target price on Palomar from $93.00 to $96.00 and gave the company an “outperform” rating in a research note on Wednesday, May 29th. JMP Securities reissued a “market perform” rating on shares of Palomar in a research note on Monday, April 15th. Evercore ISI upped their price objective on Palomar from $88.00 to $89.00 and gave the stock an “in-line” rating in a research report on Wednesday, May 29th. Finally, Truist Financial upped their price objective on Palomar from $97.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $92.83.

Get Our Latest Report on PLMR

Insider Buying and Selling

In related news, CFO T Christopher Uchida sold 1,250 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $89.00, for a total transaction of $111,250.00. Following the sale, the chief financial officer now owns 24,094 shares in the company, valued at $2,144,366. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Palomar news, President Jon Christianson sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $82.09, for a total value of $820,900.00. Following the sale, the president now owns 59,761 shares in the company, valued at $4,905,780.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO T Christopher Uchida sold 1,250 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $89.00, for a total value of $111,250.00. Following the completion of the sale, the chief financial officer now owns 24,094 shares in the company, valued at approximately $2,144,366. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,750 shares of company stock worth $3,314,505. Corporate insiders own 4.30% of the company’s stock.

Palomar Company 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.

Further Reading

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Institutional Ownership by Quarter for Palomar (NASDAQ:PLMR)

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