Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Sold by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt decreased its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 25.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,400 shares of the company’s stock after selling 2,800 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Palomar were worth $886,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Dakota Wealth Management boosted its holdings in Palomar by 3.1% in the fourth quarter. Dakota Wealth Management now owns 3,070 shares of the company’s stock worth $324,000 after purchasing an additional 92 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Palomar by 0.7% in the 4th quarter. State of Alaska Department of Revenue now owns 15,042 shares of the company’s stock worth $1,588,000 after buying an additional 100 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Palomar by 48.6% in the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after buying an additional 125 shares during the period. Covestor Ltd grew its position in shares of Palomar by 20.2% during the 3rd quarter. Covestor Ltd now owns 1,076 shares of the company’s stock valued at $102,000 after buying an additional 181 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in Palomar by 1.6% during the third quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the company’s stock worth $1,202,000 after acquiring an additional 200 shares during the period. 90.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Palomar news, insider Jonathan Knutzen sold 282 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $104.46, for a total value of $29,457.72. Following the completion of the sale, the insider now directly owns 20,098 shares in the company, valued at $2,099,437.08. This represents a 1.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO T Christopher Uchida sold 1,111 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $104.00, for a total value of $115,544.00. Following the transaction, the chief financial officer now directly owns 16,432 shares of the company’s stock, valued at approximately $1,708,928. The trade was a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,239 shares of company stock worth $4,374,199. 4.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PLMR shares. Piper Sandler lifted their target price on Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. boosted their price objective on Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods increased their target price on Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Palomar has an average rating of “Moderate Buy” and an average price target of $115.50.

Palomar Price Performance

Shares of PLMR stock opened at $109.92 on Friday. Palomar Holdings, Inc. has a 12-month low of $58.77 and a 12-month high of $112.90. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 26.11 and a beta of 0.38. The business has a 50 day simple moving average of $106.91 and a 200 day simple moving average of $99.90.

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.