Cibc World Markets Corp Invests $254,000 in Palomar Holdings, Inc. (NASDAQ:PLMR)

Cibc World Markets Corp purchased a new position in Palomar Holdings, Inc. (NASDAQ:PLMR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,406 shares of the company’s stock, valued at approximately $254,000.

A number of other large investors have also made changes to their positions in PLMR. Natixis Advisors LLC purchased a new position in Palomar during the 3rd quarter worth $1,007,000. Thrivent Financial for Lutherans grew its stake in shares of Palomar by 58.7% during the third quarter. Thrivent Financial for Lutherans now owns 32,837 shares of the company’s stock worth $3,109,000 after acquiring an additional 12,147 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Palomar in the 3rd quarter valued at approximately $371,000. Intech Investment Management LLC boosted its stake in Palomar by 109.0% in the 3rd quarter. Intech Investment Management LLC now owns 9,040 shares of the company’s stock worth $856,000 after purchasing an additional 4,714 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Palomar by 6.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 230,552 shares of the company’s stock worth $21,826,000 after purchasing an additional 14,509 shares during the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Palomar

In other Palomar news, insider Angela L. Grant sold 1,505 shares of the business’s stock in a transaction dated Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total value of $159,319.30. Following the transaction, the insider now directly owns 2,534 shares in the company, valued at $268,249.24. The trade was a 37.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO T Christopher Uchida sold 864 shares of the firm’s stock in a transaction that occurred on Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total transaction of $91,463.04. Following the sale, the chief financial officer now owns 17,288 shares of the company’s stock, valued at $1,830,107.68. This represents a 4.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,455 shares of company stock valued at $3,911,340. 4.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on PLMR. Piper Sandler boosted their price target on Palomar from $133.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Truist Financial increased their price objective on shares of Palomar from $112.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods boosted their target price on shares of Palomar from $152.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, March 21st. Finally, JMP Securities reissued a “market perform” rating on shares of Palomar in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $127.83.

Palomar Stock Up 0.1 %

Palomar stock opened at $135.14 on Wednesday. The company has a fifty day simple moving average of $119.30 and a 200-day simple moving average of $107.34. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 30.17 and a beta of 0.33. Palomar Holdings, Inc. has a 52-week low of $74.09 and a 52-week high of $136.90.

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

Palomar Company 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.