Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC raised its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR) by 185.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 311 shares of the company’s stock after acquiring an additional 202 shares during the period. Nisa Investment Advisors LLC’s holdings in Palomar were worth $43,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Palomar during the 4th quarter valued at $3,064,000. Farther Finance Advisors LLC grew its stake in shares of Palomar by 21.8% during the 4th quarter. Farther Finance Advisors LLC now owns 554 shares of the company’s stock valued at $58,000 after buying an additional 99 shares during the period. Avantax Advisory Services Inc. grew its stake in shares of Palomar by 2.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,837 shares of the company’s stock valued at $616,000 after buying an additional 145 shares during the period. Swiss National Bank boosted its position in Palomar by 5.5% during the 4th quarter. Swiss National Bank now owns 51,500 shares of the company’s stock worth $5,438,000 after purchasing an additional 2,700 shares during the period. Finally, Natixis Advisors LLC boosted its position in Palomar by 4.5% during the 4th quarter. Natixis Advisors LLC now owns 11,110 shares of the company’s stock worth $1,173,000 after purchasing an additional 475 shares during the period. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Palomar Stock Performance

Palomar stock opened at $139.56 on Friday. The company has a 50 day moving average price of $155.74 and a 200 day moving average price of $137.44. Palomar Holdings, Inc. has a 52 week low of $82.55 and a 52 week high of $175.85. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 27.86 and a beta of 0.46.

Palomar (NASDAQ:PLMR) last released its earnings results on Monday, May 5th. The company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.26. Palomar had a net margin of 21.99% and a return on equity of 20.56%. The company had revenue of $174.63 million during the quarter, compared to the consensus estimate of $161.97 million. During the same quarter in the prior year, the firm earned $1.09 EPS. Equities analysts forecast that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Palomar from a “neutral” rating to an “overweight” rating and upped their target price for the company from $115.00 to $150.00 in a research note on Tuesday, April 8th. Piper Sandler increased their price objective on shares of Palomar from $171.00 to $177.00 and gave the stock an “overweight” rating in a research note on Friday, May 30th. Truist Financial increased their price objective on shares of Palomar from $150.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 15th. Jefferies Financial Group increased their price objective on shares of Palomar from $145.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Finally, Wall Street Zen lowered shares of Palomar from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Palomar presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.17.

Insider Activity

In other news, CFO T Christopher Uchida sold 500 shares of the business’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $158.69, for a total transaction of $79,345.00. Following the transaction, the chief financial officer owned 7,420 shares in the company, valued at approximately $1,177,479.80. The trade was a 6.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Timothy Carter sold 473 shares of Palomar stock in a transaction dated Saturday, June 28th. The shares were sold at an average price of $153.65, for a total transaction of $72,676.45. Following the sale, the insider owned 361 shares in the company, valued at approximately $55,467.65. This trade represents a 56.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,164 shares of company stock worth $3,087,639. 3.70% of the stock is owned by corporate insiders.

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.