Strs Ohio Lowers Stock Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Strs Ohio trimmed its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 5.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 12,700 shares of the company’s stock after selling 700 shares during the period. Strs Ohio owned approximately 0.05% of Palomar worth $704,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PLMR. SG Americas Securities LLC purchased a new position in shares of Palomar during the third quarter valued at approximately $346,000. Handelsbanken Fonder AB lifted its holdings in shares of Palomar by 5.3% during the third quarter. Handelsbanken Fonder AB now owns 4,210 shares of the company’s stock valued at $214,000 after purchasing an additional 210 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Palomar by 17.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,443 shares of the company’s stock valued at $378,000 after purchasing an additional 1,116 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Palomar by 32.3% during the third quarter. Victory Capital Management Inc. now owns 9,747 shares of the company’s stock valued at $495,000 after purchasing an additional 2,379 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Palomar by 0.9% during the third quarter. Los Angeles Capital Management LLC now owns 27,529 shares of the company’s stock valued at $1,397,000 after purchasing an additional 256 shares during the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on PLMR. Evercore ISI boosted their price objective on shares of Palomar from $68.00 to $86.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Truist Financial boosted their price objective on shares of Palomar from $72.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, February 16th. JPMorgan Chase & Co. lowered shares of Palomar from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $79.00 to $85.00 in a report on Monday, April 8th. Piper Sandler boosted their price objective on shares of Palomar from $80.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Finally, Jefferies Financial Group upgraded shares of Palomar from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $78.00 to $88.00 in a report on Thursday, March 14th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $87.50.

Palomar Trading Down 0.3 %

NASDAQ:PLMR opened at $81.15 on Friday. Palomar Holdings, Inc. has a 12 month low of $46.09 and a 12 month high of $86.25. The company has a market cap of $2.02 billion, a PE ratio of 26.01 and a beta of 0.21. The company has a 50 day simple moving average of $78.30 and a two-hundred day simple moving average of $64.93.

Palomar (NASDAQ:PLMR) last posted its 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. Palomar had a net margin of 21.07% and a return on equity of 19.35%. The business had revenue of $102.35 million during the quarter, compared to the consensus estimate of $95.07 million. Research analysts forecast that Palomar Holdings, Inc. will post 3.84 earnings per share for the current year.

Insider Activity

In other news, CFO T Christopher Uchida sold 750 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $74.36, for a total transaction of $55,770.00. Following the completion of the sale, the chief financial officer now owns 29,844 shares of the company’s stock, valued at approximately $2,219,199.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Palomar news, Director Thomas A. Bradley acquired 1,500 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was purchased at an average price of $74.30 per share, with a total value of $111,450.00. Following the transaction, the director now directly owns 1,500 shares in the company, valued at approximately $111,450. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO T Christopher Uchida sold 750 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $74.36, for a total transaction of $55,770.00. Following the sale, the chief financial officer now directly owns 29,844 shares of the company’s stock, valued at approximately $2,219,199.84. The disclosure for this sale can be found here. Insiders sold a total of 46,086 shares of company stock valued at $3,533,932 in the last 90 days. Company insiders own 4.30% of the company’s stock.

About Palomar

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.