NBW Capital LLC boosted its stake in Palomar Holdings, Inc. (NASDAQ:PLMR – Free Report) by 54.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,128 shares of the company’s stock after purchasing an additional 33,053 shares during the quarter. NBW Capital LLC owned about 0.38% of Palomar worth $5,196,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. UBS Group AG grew its position in Palomar by 7,440.0% in the third quarter. UBS Group AG now owns 377 shares of the company’s stock valued at $32,000 after acquiring an additional 372 shares during the last quarter. Lazard Asset Management LLC bought a new position in Palomar in the first quarter valued at about $55,000. FMR LLC grew its position in Palomar by 89.9% in the first quarter. FMR LLC now owns 864 shares of the company’s stock valued at $48,000 after acquiring an additional 409 shares during the last quarter. Advisor Group Holdings Inc. grew its position in Palomar by 34.1% in the first quarter. Advisor Group Holdings Inc. now owns 1,470 shares of the company’s stock valued at $94,000 after acquiring an additional 374 shares during the last quarter. Finally, Brown Brothers Harriman & Co. bought a new position in Palomar in the fourth quarter valued at about $81,000. Institutional investors and hedge funds own 90.09% of the company’s stock.
Palomar Trading Down 0.4 %
PLMR stock traded down $0.22 during trading on Friday, hitting $50.82. The company had a trading volume of 33,955 shares, compared to its average volume of 139,260. Palomar Holdings, Inc. has a one year low of $43.63 and a one year high of $95.20. The business has a 50-day moving average of $57.23 and a 200-day moving average of $55.01. The stock has a market cap of $1.26 billion, a PE ratio of 22.48 and a beta of 0.04.
Palomar (NASDAQ:PLMR – Get Free Report) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.01. Palomar had a return on equity of 17.12% and a net margin of 16.60%. The firm had revenue of $89.27 million for the quarter, compared to analyst estimates of $94.20 million. Research analysts forecast that Palomar Holdings, Inc. will post 2.98 EPS for the current year.
Insider Buying and Selling at Palomar
In other Palomar news, CFO T Christopher Uchida sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $55.00, for a total value of $110,000.00. Following the transaction, the chief financial officer now directly owns 25,108 shares of the company’s stock, valued at $1,380,940. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, President Jon Christianson sold 2,008 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $60.09, for a total transaction of $120,660.72. Following the transaction, the president now directly owns 80,393 shares of the company’s stock, valued at $4,830,815.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO T Christopher Uchida sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $55.00, for a total value of $110,000.00. Following the transaction, the chief financial officer now directly owns 25,108 shares in the company, valued at $1,380,940. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,000 shares of company stock valued at $3,437,540. 4.40% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Separately, Keefe, Bruyette & Woods lifted their target price on Palomar from $64.00 to $67.00 in a research report on Wednesday, May 31st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.86.
Read Our Latest Stock Report on Palomar
About Palomar
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.
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