Blue Trust Inc. Invests $26,000 in Palomar Holdings, Inc. (NASDAQ:PLMR)

Blue Trust Inc. bought a new stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 246 shares of the company’s stock, valued at approximately $26,000.

A number of other institutional investors have also recently made changes to their positions in the business. State Street Corp raised its position in Palomar by 3.0% during the third quarter. State Street Corp now owns 1,097,702 shares of the company’s stock valued at $103,919,000 after purchasing an additional 32,151 shares during the period. Geode Capital Management LLC increased its position in shares of Palomar by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock valued at $56,822,000 after purchasing an additional 18,335 shares during the last quarter. Artemis Investment Management LLP increased its position in shares of Palomar by 18.7% during the 4th quarter. Artemis Investment Management LLP now owns 455,082 shares of the company’s stock valued at $48,052,000 after purchasing an additional 71,806 shares during the last quarter. Emerald Advisers LLC raised its holdings in Palomar by 1.9% during the 3rd quarter. Emerald Advisers LLC now owns 449,973 shares of the company’s stock valued at $42,599,000 after buying an additional 8,601 shares during the period. Finally, Westfield Capital Management Co. LP lifted its position in Palomar by 24.5% in the third quarter. Westfield Capital Management Co. LP now owns 394,408 shares of the company’s stock worth $37,339,000 after buying an additional 77,552 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

Palomar Price Performance

Shares of PLMR opened at $122.59 on Friday. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 27.36 and a beta of 0.38. Palomar Holdings, Inc. has a 1-year low of $71.54 and a 1-year high of $128.38. The company has a 50-day moving average of $110.26 and a 200 day moving average of $102.90.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. On average, equities analysts anticipate that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palomar news, CFO T Christopher Uchida sold 394 shares of the firm’s stock in a transaction that occurred on Sunday, January 26th. The shares were sold at an average price of $101.69, for a total value of $40,065.86. Following the completion of the sale, the chief financial officer now directly owns 16,943 shares in the company, valued at $1,722,933.67. This trade represents a 2.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Jon Christianson sold 819 shares of Palomar stock in a transaction on Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total transaction of $86,699.34. Following the completion of the transaction, the president now directly owns 55,126 shares in the company, valued at $5,835,638.36. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,485 shares of company stock worth $4,098,195 in the last ninety days. 4.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PLMR. JPMorgan Chase & Co. boosted their price objective on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Truist Financial upped their price target on shares of Palomar from $112.00 to $150.00 and gave the company a “buy” rating in a report on Friday, February 14th. JMP Securities reissued a “market perform” rating on shares of Palomar in a research note on Thursday, February 13th. Keefe, Bruyette & Woods upped their target price on Palomar from $136.00 to $152.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Finally, Piper Sandler raised their price target on Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $127.33.

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.