Palomar Holdings, Inc. $PLMR Shares Bought by Creative Planning

Creative Planning lifted its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 55.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 11,668 shares of the company’s stock after acquiring an additional 4,182 shares during the period. Creative Planning’s holdings in Palomar were worth $1,800,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of PLMR. Allworth Financial LP grew its position in Palomar by 1,970.0% in the 2nd quarter. Allworth Financial LP now owns 207 shares of the company’s stock worth $32,000 after purchasing an additional 197 shares during the last quarter. Maseco LLP acquired a new position in shares of Palomar during the second quarter worth approximately $45,000. TCTC Holdings LLC grew its holdings in Palomar by 116.5% in the 1st quarter. TCTC Holdings LLC now owns 381 shares of the company’s stock worth $52,000 after buying an additional 205 shares in the last quarter. IFP Advisors Inc increased its position in Palomar by 556.9% in the 2nd quarter. IFP Advisors Inc now owns 335 shares of the company’s stock valued at $52,000 after acquiring an additional 284 shares during the period. Finally, NewEdge Advisors LLC bought a new stake in Palomar during the 1st quarter valued at $66,000. 90.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PLMR has been the subject of several recent analyst reports. Evercore ISI decreased their price target on Palomar from $168.00 to $134.00 and set an “in-line” rating for the company in a research note on Wednesday, October 1st. Keefe, Bruyette & Woods upped their price objective on shares of Palomar from $164.00 to $170.00 and gave the stock an “outperform” rating in a report on Tuesday, November 11th. JPMorgan Chase & Co. increased their target price on shares of Palomar from $137.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Piper Sandler dropped their price target on shares of Palomar from $177.00 to $151.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 6th. Finally, Wall Street Zen raised shares of Palomar from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $157.67.

Palomar Trading Up 0.1%

Shares of Palomar stock opened at $123.95 on Thursday. The company’s 50-day moving average price is $118.63 and its two-hundred day moving average price is $133.28. Palomar Holdings, Inc. has a 52 week low of $98.42 and a 52 week high of $175.85. The stock has a market cap of $3.28 billion, a PE ratio of 21.78 and a beta of 0.25.

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

Insider Buying and Selling at Palomar

In other news, CFO T Christopher Uchida sold 782 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $128.84, for a total transaction of $100,752.88. Following the completion of the sale, the chief financial officer owned 7,916 shares in the company, valued at approximately $1,019,897.44. This represents a 8.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mac Armstrong sold 5,000 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $122.86, for a total value of $614,300.00. Following the sale, the chief executive officer directly owned 358,388 shares of the company’s stock, valued at approximately $44,031,549.68. This represents a 1.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 19,803 shares of company stock valued at $2,348,771 in the last ninety days. Company insiders own 3.70% of the company’s stock.

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.