Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Sold by Champlain Investment Partners LLC

Champlain Investment Partners LLC lessened its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 10.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,190,810 shares of the company’s stock after selling 142,495 shares during the period. Champlain Investment Partners LLC’s holdings in Palomar were worth $112,734,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in shares of 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. Intech Investment Management LLC raised its stake in Palomar by 109.0% in the third quarter. Intech Investment Management LLC now owns 9,040 shares of the company’s stock valued at $856,000 after buying an additional 4,714 shares in the last quarter. King Luther Capital Management Corp lifted its holdings in Palomar by 1.2% during the 3rd quarter. King Luther Capital Management Corp now owns 88,630 shares of the company’s stock worth $8,391,000 after buying an additional 1,071 shares during the last quarter. Moran Wealth Management LLC acquired a new position in shares of Palomar during the 3rd quarter worth about $547,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Palomar in the 3rd quarter valued at about $371,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO T Christopher Uchida sold 1,030 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $97.65, for a total transaction of $100,579.50. Following the completion of the transaction, the chief financial officer now directly owns 17,543 shares of the company’s stock, valued at approximately $1,713,073.95. This represents a 5.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Jon Christianson sold 2,195 shares of Palomar stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $104.10, for a total value of $228,499.50. Following the completion of the sale, the president now owns 51,926 shares in the company, valued at approximately $5,405,496.60. This trade represents a 4.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,326 shares of company stock valued at $3,632,779. Company insiders own 4.30% of the company’s stock.

Palomar Stock Performance

NASDAQ PLMR opened at $108.32 on Friday. The firm’s fifty day moving average is $96.95 and its two-hundred day moving average is $90.93. Palomar Holdings, Inc. has a one year low of $54.50 and a one year high of $110.98. The firm has a market cap of $2.87 billion, a PE ratio of 25.73 and a beta of 0.34.

Palomar (NASDAQ:PLMR) last released its quarterly earnings results on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.20. The firm had revenue of $148.50 million for the quarter, compared to analyst estimates of $134.72 million. Palomar had a return on equity of 19.65% and a net margin of 21.55%. During the same quarter last year, the company posted $0.80 earnings per share. Research analysts predict that Palomar Holdings, Inc. will post 4.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PLMR has been the subject of several recent analyst reports. Piper Sandler boosted their target price on Palomar from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Truist Financial upped their target price on shares of Palomar from $100.00 to $112.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Jefferies Financial Group increased their target price on shares of Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI upped their price objective on shares of Palomar from $90.00 to $99.00 and gave the company an “in-line” rating in a research note on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods raised their price objective on Palomar from $117.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $109.00.

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.