Everence Capital Management Inc. Invests $214,000 in Palomar Holdings, Inc. (NASDAQ:PLMR)

Everence Capital Management Inc. purchased a new position in Palomar Holdings, Inc. (NASDAQ:PLMR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,850 shares of the company’s stock, valued at approximately $214,000.

Other large investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC increased its position in Palomar by 0.9% in the third quarter. Los Angeles Capital Management LLC now owns 27,529 shares of the company’s stock worth $1,397,000 after purchasing an additional 256 shares during the last quarter. Westfield Capital Management Co. LP increased its position in Palomar by 26.0% in the third quarter. Westfield Capital Management Co. LP now owns 433,346 shares of the company’s stock worth $21,992,000 after purchasing an additional 89,410 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Palomar by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 195,862 shares of the company’s stock worth $9,940,000 after purchasing an additional 6,903 shares during the last quarter. Barclays PLC increased its position in Palomar by 11.2% in the third quarter. Barclays PLC now owns 15,059 shares of the company’s stock worth $764,000 after purchasing an additional 1,514 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in Palomar in the third quarter worth $538,000. Institutional investors own 90.25% of the company’s stock.

Insider Transactions at Palomar

In other news, President Jon Christianson sold 2,000 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $76.30, for a total value of $152,600.00. Following the transaction, the president now directly owns 57,761 shares in the company, valued at $4,407,164.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, President Jon Christianson sold 2,000 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $76.30, for a total value of $152,600.00. Following the completion of the sale, the president now directly owns 57,761 shares of the company’s stock, valued at $4,407,164.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO T Christopher Uchida sold 1,000 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $76.30, for a total transaction of $76,300.00. Following the completion of the sale, the chief financial officer now directly owns 25,344 shares of the company’s stock, valued at $1,933,747.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,509 shares of company stock worth $2,999,157. Insiders own 4.40% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PLMR shares. Keefe, Bruyette & Woods boosted their price target on shares of Palomar from $88.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Piper Sandler boosted their price objective on shares of Palomar from $80.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. JMP Securities reiterated a “market perform” rating on shares of Palomar in a research report on Monday, April 15th. JPMorgan Chase & Co. cut shares of Palomar from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $79.00 to $85.00 in a research report on Monday, April 8th. Finally, Truist Financial boosted their price objective on shares of Palomar from $72.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $87.50.

Palomar Trading Up 1.9 %

NASDAQ PLMR opened at $79.22 on Friday. The company’s 50-day moving average price is $76.95 and its 200-day moving average price is $64.07. The stock has a market cap of $1.97 billion, a PE ratio of 25.39 and a beta of 0.21. Palomar Holdings, Inc. has a 12 month low of $46.09 and a 12 month high of $86.25.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.09. The firm had revenue of $102.35 million for the quarter, compared to analysts’ expectations of $95.07 million. Palomar had a net margin of 21.07% and a return on equity of 19.35%. As a group, sell-side analysts forecast that Palomar Holdings, Inc. will post 3.84 earnings per share for the current year.

Palomar 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.