Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Sold by Villere ST Denis J & Co. LLC

Villere ST Denis J & Co. LLC decreased its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 389,933 shares of the company’s stock after selling 28,135 shares during the period. Palomar comprises 3.7% of Villere ST Denis J & Co. LLC’s portfolio, making the stock its 4th biggest position. Villere ST Denis J & Co. LLC owned about 1.47% of Palomar worth $41,173,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PLMR. State Street Corp grew its stake in shares of Palomar by 3.0% during the third quarter. State Street Corp now owns 1,097,702 shares of the company’s stock valued at $103,919,000 after purchasing an additional 32,151 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Palomar by 3.2% during the third quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock valued at $56,822,000 after purchasing an additional 18,335 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Palomar by 9.5% during the third quarter. JPMorgan Chase & Co. now owns 128,165 shares of the company’s stock valued at $12,133,000 after purchasing an additional 11,140 shares during the last quarter. 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 valued at $3,109,000 after purchasing an additional 12,147 shares during the last quarter. Finally, HighTower Advisors LLC bought a new stake in shares of Palomar during the third quarter valued at approximately $1,711,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

Insiders Place Their Bets

In other Palomar news, CFO T Christopher Uchida sold 390 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $104.47, for a total value of $40,743.30. Following the sale, the chief financial officer now directly owns 18,509 shares in the company, valued at approximately $1,933,635.23. This trade represents a 2.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mac Armstrong sold 7,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $103.04, for a total transaction of $721,280.00. Following the completion of the sale, the chief executive officer now owns 419,388 shares in the company, valued at approximately $43,213,739.52. This trade represents a 1.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,933 shares of company stock worth $4,030,156. Company insiders own 4.30% of the company’s stock.

Palomar Stock Performance

PLMR opened at $126.92 on Friday. The firm’s fifty day moving average is $107.29 and its two-hundred day moving average is $100.68. The firm has a market cap of $3.36 billion, a PE ratio of 30.15 and a beta of 0.38. Palomar Holdings, Inc. has a twelve month low of $66.81 and a twelve month high of $128.38.

Palomar (NASDAQ:PLMR) last posted its earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.13. Palomar had a net margin of 21.55% and a return on equity of 19.65%. Equities analysts forecast that Palomar Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PLMR has been the topic of several research analyst reports. Truist Financial increased their price target on shares of Palomar from $112.00 to $150.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. raised their price objective on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods raised their price objective on shares of Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. JMP Securities reaffirmed a “market perform” rating on shares of Palomar in a research note on Thursday. Finally, Piper Sandler raised their price objective on shares of Palomar from $133.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $124.67.

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.