Stifel Financial Corp Has $1.55 Million Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Stifel Financial Corp decreased its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR) by 6.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,698 shares of the company’s stock after selling 1,036 shares during the period. Stifel Financial Corp owned about 0.06% of Palomar worth $1,552,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Palomar by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 2,574,923 shares of the company’s stock valued at $271,886,000 after acquiring an additional 53,123 shares during the period. American Century Companies Inc. raised its position in shares of Palomar by 36.6% in the fourth quarter. American Century Companies Inc. now owns 785,419 shares of the company’s stock valued at $82,932,000 after purchasing an additional 210,523 shares during the period. Geode Capital Management LLC lifted its stake in shares of Palomar by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 618,840 shares of the company’s stock worth $65,358,000 after buying an additional 18,748 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Palomar by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 561,740 shares of the company’s stock worth $59,313,000 after buying an additional 17,320 shares during the period. Finally, Artemis Investment Management LLP grew its stake in Palomar by 18.7% in the 4th quarter. Artemis Investment Management LLP now owns 455,082 shares of the company’s stock valued at $48,052,000 after buying an additional 71,806 shares during the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Palomar news, CFO T Christopher Uchida sold 552 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $123.26, for a total value of $68,039.52. Following the completion of the transaction, the chief financial officer now directly owns 15,683 shares in the company, valued at approximately $1,933,086.58. This trade represents a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mac Armstrong sold 5,000 shares of the business’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $145.41, for a total value of $727,050.00. Following the sale, the chief executive officer now owns 397,388 shares in the company, valued at approximately $57,784,189.08. This trade represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,254 shares of company stock worth $2,443,484. Insiders own 3.70% of the company’s stock.

Palomar Stock Up 0.4 %

PLMR stock opened at $156.33 on Wednesday. The company has a market cap of $4.18 billion, a PE ratio of 34.90 and a beta of 0.51. Palomar Holdings, Inc. has a 52 week low of $77.28 and a 52 week high of $157.54. The business has a 50-day simple moving average of $139.14 and a 200 day simple moving average of $117.94.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results on Monday, May 5th. The company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.26. Palomar had a return on equity of 19.76% and a net margin of 21.23%. The company had revenue of $174.63 million for the quarter, compared to analyst estimates of $161.97 million. During the same quarter last year, the company posted $1.09 EPS. On average, analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Analysts Set New Price Targets

PLMR has been the subject of a number of research analyst reports. Truist Financial boosted their price objective on Palomar from $150.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 15th. Piper Sandler boosted their price target on Palomar from $133.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Jefferies Financial Group increased their price objective on Palomar from $145.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. JPMorgan Chase & Co. raised Palomar from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $115.00 to $150.00 in a report on Tuesday, April 8th. Finally, JMP Securities restated a “market perform” rating on shares of Palomar in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Palomar has an average rating of “Moderate Buy” and a consensus target price of $148.33.

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.