2,408 Shares in Palomar Holdings, Inc. (NASDAQ:PLMR) Bought by Cerity Partners LLC

Cerity Partners LLC bought a new stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,408 shares of the company’s stock, valued at approximately $248,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. American Century Companies Inc. lifted its position in Palomar by 36.6% during the 4th quarter. American Century Companies Inc. now owns 785,419 shares of the company’s stock valued at $82,932,000 after acquiring an additional 210,523 shares during the period. Norges Bank bought a new stake in shares of Palomar in the 4th quarter worth approximately $20,637,000. Atlas Capital Advisors Inc. grew its stake in shares of Palomar by 175.5% in the 4th quarter. Atlas Capital Advisors Inc. now owns 141,284 shares of the company’s stock worth $14,918,000 after buying an additional 90,000 shares during the last quarter. Artemis Investment Management LLP increased its position in 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 buying an additional 71,806 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Palomar by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 2,574,923 shares of the company’s stock valued at $271,886,000 after buying an additional 53,123 shares during the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on PLMR. JPMorgan Chase & Co. raised Palomar from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $115.00 to $150.00 in a research note on Tuesday, April 8th. Piper Sandler upped their price target on shares of Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Jefferies Financial Group lifted their target price on shares of Palomar from $145.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Truist Financial increased their price target on shares of Palomar from $150.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 15th. Finally, Keefe, Bruyette & Woods lowered their price target on Palomar from $155.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $148.33.

Palomar Price Performance

Shares of PLMR stock opened at $153.15 on Friday. The company has a market cap of $4.09 billion, a price-to-earnings ratio of 34.19 and a beta of 0.46. Palomar Holdings, Inc. has a 1 year low of $77.17 and a 1 year high of $155.87. The firm has a fifty day moving average price of $134.74 and a 200-day moving average price of $114.86.

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

Insider Activity at Palomar

In related news, CFO T Christopher Uchida sold 394 shares of Palomar stock in a transaction on Sunday, January 26th. The shares were sold at an average price of $101.69, for a total transaction of $40,065.86. Following the transaction, the chief financial officer now owns 16,943 shares in the company, valued at approximately $1,722,933.67. The trade was a 2.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mac Armstrong sold 2,791 shares of the company’s stock in a transaction on Sunday, January 26th. The stock was sold at an average price of $101.69, for a total transaction of $283,816.79. Following the completion of the transaction, the chief executive officer now directly owns 62,639 shares of the company’s stock, valued at $6,369,759.91. This represents a 4.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,615 shares of company stock worth $3,633,369. 3.70% of the stock is owned by company insiders.

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.