Crossmark Global Holdings Inc. Invests $206,000 in Palomar Holdings, Inc. (NASDAQ:PLMR)

Crossmark Global Holdings Inc. bought a new stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,955 shares of the company’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in Palomar during the third quarter valued at approximately $25,000. GAMMA Investing LLC lifted its stake 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 last quarter. Farther Finance Advisors LLC lifted its stake in Palomar by 490.9% during the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $43,000 after purchasing an additional 378 shares during the last quarter. Covestor Ltd lifted its stake in Palomar by 20.2% during the third quarter. Covestor Ltd now owns 1,076 shares of the company’s stock valued at $102,000 after purchasing an additional 181 shares during the last quarter. Finally, Avanza Fonder AB acquired a new stake in shares of Palomar during the fourth quarter valued at approximately $143,000. 90.25% of the stock is owned by institutional investors and hedge funds.

Palomar Stock Up 2.7 %

Shares of Palomar stock opened at $106.24 on Tuesday. The stock has a market capitalization of $2.81 billion, a P/E ratio of 25.24 and a beta of 0.38. Palomar Holdings, Inc. has a 12-month low of $57.55 and a 12-month high of $112.90. The company has a 50-day simple moving average of $106.96 and a 200 day simple moving average of $98.82.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.20. The firm had revenue of $148.50 million during the quarter, compared to analysts’ expectations 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 company posted $0.80 EPS. On average, equities analysts anticipate that Palomar Holdings, Inc. will post 4.33 earnings per share for the current year.

Insider Buying and Selling

In other Palomar news, 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 transaction, the president now owns 51,926 shares of the company’s stock, valued at approximately $5,405,496.60. The trade was a 4.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mac Armstrong sold 7,000 shares of Palomar stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $103.04, for a total transaction of $721,280.00. Following the completion of the transaction, the chief executive officer now directly owns 419,388 shares in the company, valued at approximately $43,213,739.52. The trade was a 1.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,878 shares of company stock valued at $3,184,314 in the last 90 days. 4.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PLMR shares. Jefferies Financial Group boosted their price target on shares of Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price target on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Piper Sandler boosted their price target on shares of Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods upped 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. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $115.50.

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.