Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Purchased by US Bancorp DE

US Bancorp DE increased its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR) by 72.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,085 shares of the company’s stock after buying an additional 1,300 shares during the period. US Bancorp DE’s holdings in Palomar were worth $292,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Palomar in the 3rd quarter valued at $25,000. GAMMA Investing LLC lifted its position in Palomar by 48.6% during the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after purchasing an additional 125 shares during the period. International Assets Investment Management LLC acquired a new position in Palomar during the second quarter valued at $49,000. DekaBank Deutsche Girozentrale purchased a new stake in Palomar in the first quarter valued at $59,000. Finally, Advisors Asset Management Inc. grew its position in Palomar by 137.1% during the 1st quarter. Advisors Asset Management Inc. now owns 735 shares of the company’s stock worth $62,000 after purchasing an additional 425 shares during the period. 90.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Palomar news, President Jon Christianson sold 10,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $94.40, for a total transaction of $944,000.00. Following the completion of the transaction, the president now owns 51,926 shares of the company’s stock, valued at $4,901,814.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Palomar news, CFO T Christopher Uchida sold 1,750 shares of Palomar stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $99.00, for a total transaction of $173,250.00. Following the sale, the chief financial officer now owns 20,594 shares of the company’s stock, valued at $2,038,806. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Jon Christianson sold 10,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $94.40, for a total transaction of $944,000.00. Following the sale, the president now directly owns 51,926 shares of the company’s stock, valued at $4,901,814.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,076 shares of company stock worth $3,806,029. Insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Truist Financial upped their target price on Palomar from $100.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Piper Sandler upped their price objective on Palomar from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Evercore ISI lifted their target price on shares of Palomar from $90.00 to $99.00 and gave the company an “in-line” rating in a report on Tuesday, August 6th. Keefe, Bruyette & Woods increased their price target on shares of Palomar from $117.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Jefferies Financial Group raised their price target 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. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Palomar currently has an average rating of “Moderate Buy” and a consensus price target of $109.00.

Palomar Stock Performance

Palomar stock opened at $101.00 on Thursday. The stock has a market capitalization of $2.67 billion, a P/E ratio of 24.06 and a beta of 0.34. The company’s fifty day moving average price is $95.36 and its 200 day moving average price is $89.79. Palomar Holdings, Inc. has a 1 year low of $54.50 and a 1 year high of $107.00.

Palomar (NASDAQ:PLMR) last announced its earnings results on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.20. The business had revenue of $148.50 million for the quarter, compared to analyst estimates of $134.72 million. Palomar had a net margin of 21.55% and a return on equity of 19.65%. During the same quarter last year, the business earned $0.80 earnings per share. Sell-side analysts predict that Palomar Holdings, Inc. will post 4.32 EPS for the current year.

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.