Sei Investments Co. Increases Stock Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Sei Investments Co. boosted its stake in Palomar Holdings, Inc. (NASDAQ:PLMR) by 12.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 82,338 shares of the company’s stock after buying an additional 8,837 shares during the quarter. Sei Investments Co. owned approximately 0.33% of Palomar worth $6,682,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. International Assets Investment Management LLC purchased a new stake in shares of Palomar in the second quarter valued at about $49,000. DekaBank Deutsche Girozentrale purchased a new stake in Palomar in the 1st quarter valued at about $59,000. Advisors Asset Management Inc. lifted its position in shares of Palomar by 137.1% during the 1st quarter. Advisors Asset Management Inc. now owns 735 shares of the company’s stock worth $62,000 after buying an additional 425 shares in the last quarter. Atwood & Palmer Inc. boosted its stake in shares of Palomar by 66.7% in the 1st quarter. Atwood & Palmer Inc. now owns 750 shares of the company’s stock worth $63,000 after buying an additional 300 shares during the last quarter. Finally, Covestor Ltd grew its holdings in shares of Palomar by 29.0% in the first quarter. Covestor Ltd now owns 1,183 shares of the company’s stock valued at $99,000 after acquiring an additional 266 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PLMR has been the topic of several research analyst reports. Evercore ISI boosted their price objective on Palomar from $90.00 to $99.00 and gave the stock an “in-line” rating in a research report on Tuesday, August 6th. Truist Financial increased their price target on shares of Palomar from $100.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Keefe, Bruyette & Woods raised their price objective on shares of Palomar from $96.00 to $113.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Piper Sandler boosted their target price on shares of Palomar from $99.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Palomar from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $101.33.

Insider Activity at Palomar

In other Palomar news, CEO Mac Armstrong sold 12,773 shares of Palomar stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $88.19, for a total transaction of $1,126,450.87. Following the completion of the transaction, the chief executive officer now owns 59,309 shares of the company’s stock, valued at approximately $5,230,460.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Mac Armstrong sold 12,773 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $88.19, for a total value of $1,126,450.87. Following the completion of the transaction, the chief executive officer now directly owns 59,309 shares in the company, valued at $5,230,460.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas A. Bradley bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of $89.42 per share, for a total transaction of $89,420.00. Following the acquisition, the director now directly owns 4,724 shares in the company, valued at approximately $422,420.08. The disclosure for this purchase can be found here. In the last three months, insiders have sold 48,500 shares of company stock worth $4,464,266. 4.30% of the stock is owned by company insiders.

Palomar Stock Down 0.2 %

Shares of NASDAQ:PLMR opened at $94.67 on Tuesday. The firm has a market capitalization of $2.37 billion, a PE ratio of 27.20 and a beta of 0.34. The company has a 50-day moving average price of $94.12 and a two-hundred day moving average price of $86.46. Palomar Holdings, Inc. has a twelve month low of $48.08 and a twelve month high of $100.29.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data on Monday, August 5th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.09 by $0.16. The company had revenue of $123.08 million during the quarter, compared to the consensus estimate of $338.74 million. Palomar had a net margin of 21.63% and a return on equity of 20.83%. Palomar’s revenue for the quarter was up 47.0% on a year-over-year basis. During the same period last year, the firm earned $0.72 EPS. Analysts anticipate that Palomar Holdings, Inc. will post 4.37 earnings per share for the current fiscal 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.