Bellecapital International Ltd. increased its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR – Free Report) by 3.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,437 shares of the company’s stock after acquiring an additional 2,157 shares during the period. Bellecapital International Ltd. owned about 0.25% of Palomar worth $3,624,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in PLMR. Advisor Group Holdings Inc. raised its holdings in shares of Palomar by 34.1% during the first quarter. Advisor Group Holdings Inc. now owns 1,470 shares of the company’s stock worth $94,000 after acquiring an additional 374 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Palomar by 20.7% during the first quarter. JPMorgan Chase & Co. now owns 11,682 shares of the company’s stock worth $747,000 after acquiring an additional 2,002 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Palomar during the first quarter worth $891,000. Citigroup Inc. raised its holdings in shares of Palomar by 11.6% during the first quarter. Citigroup Inc. now owns 20,883 shares of the company’s stock worth $1,337,000 after acquiring an additional 2,165 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in Palomar by 50.8% in the first quarter. PNC Financial Services Group Inc. now owns 6,647 shares of the company’s stock valued at $425,000 after purchasing an additional 2,240 shares in the last quarter. 88.33% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Palomar news, CFO T Christopher Uchida sold 1,000 shares of Palomar stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $58.10, for a total value of $58,100.00. Following the completion of the sale, the chief financial officer now owns 25,108 shares in the company, valued at approximately $1,458,774.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Palomar news, President Jon Christianson sold 3,992 shares of Palomar stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $60.04, for a total value of $239,679.68. Following the completion of the sale, the president now owns 76,401 shares in the company, valued at approximately $4,587,116.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO T Christopher Uchida sold 1,000 shares of Palomar stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $58.10, for a total transaction of $58,100.00. Following the completion of the sale, the chief financial officer now owns 25,108 shares of the company’s stock, valued at approximately $1,458,774.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,992 shares of company stock valued at $3,206,880. Company insiders own 4.40% of the company’s stock.
Palomar Stock Performance
Shares of PLMR stock traded down $0.72 during midday trading on Friday, hitting $51.59. 92,063 shares of the company were exchanged, compared to its average volume of 137,139. The firm has a market capitalization of $1.28 billion, a P/E ratio of 22.81 and a beta of 0.08. The firm’s 50 day moving average price is $55.13 and its two-hundred day moving average price is $54.67. Palomar Holdings, Inc. has a 52 week low of $43.63 and a 52 week high of $95.20.
Palomar (NASDAQ:PLMR – Get Free Report) last announced its earnings results on Wednesday, August 2nd. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.71 by $0.01. The business had revenue of $89.27 million during the quarter, compared to the consensus estimate of $94.20 million. Palomar had a net margin of 16.60% and a return on equity of 17.12%. Analysts expect that Palomar Holdings, Inc. will post 2.98 EPS for the current year.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. Jefferies Financial Group decreased their target price on shares of Palomar from $59.00 to $56.00 and set a “hold” rating for the company in a research report on Thursday, September 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Palomar from $64.00 to $67.00 in a research report on Wednesday, May 31st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Palomar currently has an average rating of “Moderate Buy” and an average price target of $68.57.
Read Our Latest Research Report on PLMR
Palomar Company Profile
Palomar Holdings, Inc, an insurance holding 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.
Further Reading
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