Palomar Holdings, Inc. $PLMR Shares Purchased by Rhumbline Advisers

Rhumbline Advisers boosted its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 5.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,501 shares of the company’s stock after acquiring an additional 3,636 shares during the quarter. Rhumbline Advisers’ holdings in Palomar were worth $11,338,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Cetera Investment Advisers raised its stake in shares of Palomar by 12.9% during the first quarter. Cetera Investment Advisers now owns 7,078 shares of the company’s stock worth $970,000 after purchasing an additional 811 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Palomar by 3.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,102 shares of the company’s stock valued at $1,111,000 after buying an additional 270 shares during the period. Mackenzie Financial Corp acquired a new position in Palomar in the 1st quarter valued at $224,000. Natixis Advisors LLC raised its position in Palomar by 11.8% during the 1st quarter. Natixis Advisors LLC now owns 12,416 shares of the company’s stock worth $1,702,000 after buying an additional 1,306 shares during the last quarter. Finally, US Bancorp DE lifted its stake in shares of Palomar by 51.5% in the 1st quarter. US Bancorp DE now owns 2,446 shares of the company’s stock worth $335,000 after acquiring an additional 831 shares during the period. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palomar

In related news, CEO Mac Armstrong sold 5,000 shares of the stock in a transaction dated Friday, November 21st. The shares were 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Jon Christianson sold 522 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $128.84, for a total transaction of $67,254.48. Following the transaction, the president owned 59,631 shares of the company’s stock, valued at $7,682,858.04. This trade represents a 0.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,803 shares of company stock valued at $2,348,771 over the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

Palomar Price Performance

Shares of NASDAQ:PLMR opened at $124.27 on Monday. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 21.84 and a beta of 0.25. The business’s 50 day simple moving average is $118.92 and its 200-day simple moving average is $132.67. 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 quarterly earnings data on Friday, December 16th. The company reported $0.07 earnings per share (EPS) for the quarter. The firm 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%. On average, equities analysts anticipate that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. 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 note on Wednesday, August 6th. JPMorgan Chase & Co. boosted their target price on Palomar from $137.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Wall Street Zen raised Palomar from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Keefe, Bruyette & Woods lifted their price target on Palomar from $164.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday, November 11th. Finally, Evercore ISI dropped their price objective on Palomar from $168.00 to $134.00 and set an “in-line” rating on the stock in a report on Wednesday, October 1st. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.67.

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.