Palomar Holdings, Inc. $PLMR Stock Position Lifted by Atria Investments Inc

Atria Investments Inc lifted its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 22.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,242 shares of the company’s stock after purchasing an additional 600 shares during the quarter. Atria Investments Inc’s holdings in Palomar were worth $500,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its stake in Palomar by 9.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 44,523 shares of the company’s stock valued at $6,103,000 after buying an additional 3,835 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Palomar by 185.3% during the first quarter. Nisa Investment Advisors LLC now owns 311 shares of the company’s stock valued at $43,000 after acquiring an additional 202 shares during the period. Cerity Partners LLC raised its holdings in Palomar by 2,825.6% during the first quarter. Cerity Partners LLC now owns 70,449 shares of the company’s stock worth $9,657,000 after purchasing an additional 68,041 shares in the last quarter. Xponance Inc. acquired a new stake in Palomar in the first quarter worth approximately $270,000. Finally, New York State Common Retirement Fund lifted its position in Palomar by 48.7% in the first quarter. New York State Common Retirement Fund now owns 22,561 shares of the company’s stock worth $3,093,000 after purchasing an additional 7,384 shares during the period. Institutional investors own 90.25% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Palomar from $137.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday. Keefe, Bruyette & Woods decreased their target price on Palomar from $204.00 to $172.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Palomar in a research report on Wednesday, October 8th. Evercore ISI cut their price target on shares of Palomar from $168.00 to $134.00 and set an “in-line” rating for the company in a report on Wednesday, October 1st. Finally, Piper Sandler lowered their price objective on shares of Palomar from $177.00 to $151.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 6th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $158.00.

Insider Activity

In related news, insider Jonathan Knutzen sold 281 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $120.13, for a total transaction of $33,756.53. Following the completion of the sale, the insider directly owned 21,210 shares in the company, valued at approximately $2,547,957.30. This trade represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mac Armstrong sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 21st. The shares were sold at an average price of $115.31, for a total transaction of $576,550.00. Following the completion of the transaction, the chief executive officer owned 367,388 shares in the company, valued at approximately $42,363,510.28. This represents a 1.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 20,302 shares of company stock worth $2,414,141. Corporate insiders own 3.70% of the company’s stock.

Palomar Stock Up 1.1%

Shares of NASDAQ:PLMR opened at $129.51 on Tuesday. The company’s fifty day moving average is $116.95 and its two-hundred day moving average is $135.28. The company has a market cap of $3.47 billion, a P/E ratio of 22.76 and a beta of 0.25. Palomar Holdings, Inc. has a 12-month low of $98.42 and a 12-month high of $175.85.

Palomar (NASDAQ:PLMR) last issued its earnings results on Friday, December 16th. The company reported $0.07 EPS for the quarter. The business had revenue of $65.74 million during the quarter. Palomar had a return on equity of 20.35% and a net margin of 22.71%. Equities research analysts anticipate that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Palomar 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.