US Bancorp DE Has $335,000 Stake in Palomar Holdings, Inc. (NASDAQ:PLMR)

US Bancorp DE raised its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 51.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,446 shares of the company’s stock after purchasing an additional 831 shares during the period. US Bancorp DE’s holdings in Palomar were worth $335,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLMR. Nisa Investment Advisors LLC lifted its position in shares of Palomar by 185.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 311 shares of the company’s stock worth $43,000 after purchasing an additional 202 shares during the period. Opal Wealth Advisors LLC acquired a new position in shares of Palomar in the 1st quarter worth approximately $46,000. TCTC Holdings LLC lifted its position in shares of Palomar by 116.5% in the 1st quarter. TCTC Holdings LLC now owns 381 shares of the company’s stock worth $52,000 after purchasing an additional 205 shares during the period. NBC Securities Inc. acquired a new position in shares of Palomar in the 1st quarter worth approximately $53,000. Finally, USA Financial Formulas acquired a new position in shares of Palomar in the 1st quarter worth approximately $55,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

Insider Buying and Selling

In other news, CFO T Christopher Uchida sold 500 shares of the company’s stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $143.10, for a total transaction of $71,550.00. Following the sale, the chief financial officer directly owned 6,920 shares in the company, valued at $990,252. This represents a 6.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Timothy Carter sold 473 shares of the company’s stock in a transaction that occurred on Saturday, June 28th. The stock was sold at an average price of $153.65, for a total transaction of $72,676.45. Following the completion of the transaction, the insider owned 361 shares in the company, valued at approximately $55,467.65. This trade represents a 56.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,294 shares of company stock valued at $3,208,102. Corporate insiders own 3.70% of the company’s stock.

Palomar Stock Performance

Shares of NASDAQ:PLMR opened at $123.07 on Thursday. The company has a market capitalization of $3.30 billion, a P/E ratio of 21.63 and a beta of 0.44. Palomar Holdings, Inc. has a fifty-two week low of $85.00 and a fifty-two week high of $175.85. The company’s 50-day moving average is $143.10 and its 200 day moving average is $139.95.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data on Monday, August 4th. The company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.68 by $0.08. The business had revenue of $496.29 million for the quarter, compared to the consensus estimate of $173.86 million. Palomar had a net margin of 22.71% and a return on equity of 20.35%. The company’s revenue was up 47.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 earnings per share. As a group, research analysts predict that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Analyst Ratings Changes

PLMR has been the subject of several research analyst reports. Piper Sandler lowered their price objective on shares of Palomar from $177.00 to $151.00 and set an “overweight” rating for the company in a research note on Wednesday, August 6th. JPMorgan Chase & Co. lowered their price objective on shares of Palomar from $170.00 to $158.00 and set an “overweight” rating for the company in a research note on Monday. Keefe, Bruyette & Woods lowered their price objective on shares of Palomar from $204.00 to $172.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Wall Street Zen lowered shares of Palomar from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Finally, Evercore ISI lifted their price objective on shares of Palomar from $163.00 to $168.00 and gave the company an “in-line” rating in a research note on Friday, May 30th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.83.

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.