Champlain Investment Partners LLC lifted its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR – Free Report) by 11.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 992,040 shares of the company’s stock after acquiring an additional 103,935 shares during the period. Champlain Investment Partners LLC owned 3.98% of Palomar worth $54,761,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. UBS Group AG boosted its stake in shares of Palomar by 7,440.0% during the 3rd quarter. UBS Group AG now owns 377 shares of the company’s stock worth $32,000 after purchasing an additional 372 shares during the last quarter. FMR LLC grew its stake in Palomar by 89.9% in the 1st quarter. FMR LLC now owns 864 shares of the company’s stock worth $48,000 after acquiring an additional 409 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Palomar during the first quarter worth $55,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Palomar in the fourth quarter valued at $81,000. Finally, Advisor Group Holdings Inc. grew its position in shares of 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 purchasing an additional 374 shares during the period. Hedge funds and other institutional investors own 88.33% of the company’s stock.
Insider Activity at Palomar
In other news, President Jon Christianson sold 2,008 shares of the company’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $60.09, for a total value of $120,660.72. Following the completion of the sale, the president now owns 80,393 shares of the company’s stock, valued at $4,830,815.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, President Jon Christianson sold 2,008 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO T Christopher Uchida sold 1,000 shares of the company’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $58.10, for a total transaction of $58,100.00. Following the completion of the transaction, the chief financial officer now owns 25,108 shares of the company’s stock, valued at $1,458,774.80. The disclosure for this sale can be found here. In the last three months, insiders sold 57,000 shares of company stock worth $3,327,540. Corporate insiders own 4.40% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, Keefe, Bruyette & Woods lifted their price target on Palomar from $64.00 to $67.00 in a report on Wednesday, May 31st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.86.
Read Our Latest Report on Palomar
Palomar Stock Performance
PLMR traded up $0.74 on Friday, reaching $51.75. 19,362 shares of the company’s stock were exchanged, compared to its average volume of 138,305. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 22.47 and a beta of 0.04. Palomar Holdings, Inc. has a twelve month low of $43.63 and a twelve month high of $95.20. The company’s 50 day moving average is $56.57 and its 200-day moving average is $55.00.
Palomar (NASDAQ:PLMR – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.01. The company had revenue of $89.27 million during the quarter, compared to analyst estimates of $94.20 million. Palomar had a net margin of 16.60% and a return on equity of 17.12%. Sell-side analysts forecast that Palomar Holdings, Inc. will post 2.98 EPS for the current year.
Palomar 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.
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