Pathstone Holdings LLC Sells 260 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Pathstone Holdings LLC decreased its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 1.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,952 shares of the company’s stock after selling 260 shares during the quarter. Pathstone Holdings LLC’s holdings in Palomar were worth $1,794,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Palomar during the third quarter valued at approximately $25,000. GAMMA Investing LLC increased its holdings in shares of 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 acquiring an additional 125 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Palomar by 490.9% during the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $43,000 after buying an additional 378 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Palomar during the second quarter worth $49,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Palomar during the first quarter worth $59,000. Institutional investors own 90.25% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PLMR shares. JPMorgan Chase & Co. upped their price target on Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Jefferies Financial Group upped their price target on Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Evercore ISI upped their price target on Palomar from $90.00 to $99.00 and gave the stock an “in-line” rating in a report on Tuesday, August 6th. Piper Sandler upped their price target on Palomar from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, Keefe, Bruyette & Woods upped their price target on Palomar from $117.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Palomar has a consensus rating of “Moderate Buy” and a consensus target price of $109.00.

Palomar Trading Down 0.3 %

PLMR stock opened at $108.44 on Thursday. The stock’s fifty day simple moving average is $97.93 and its two-hundred day simple moving average is $91.66. Palomar Holdings, Inc. has a 1-year low of $54.50 and a 1-year high of $111.27. The stock has a market cap of $2.87 billion, a P/E ratio of 25.76 and a beta of 0.34.

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

Insider Activity

In related news, President Jon Christianson sold 10,000 shares of the business’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 in the company, valued at approximately $4,901,814.40. The trade was a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO T Christopher Uchida sold 1,111 shares of the business’s 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 sale, the chief financial officer now owns 16,432 shares in the company, 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. Insiders have sold 37,326 shares of company stock valued at $3,632,779 in the last 90 days. Insiders own 4.30% of the company’s stock.

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.