Sei Investments Co. Has $8.17 Million Stock Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Sei Investments Co. reduced its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 1.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 77,416 shares of the company’s stock after selling 1,360 shares during the quarter. Sei Investments Co.’s holdings in Palomar were worth $8,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of PLMR. Blue Trust Inc. bought a new position in shares of Palomar during the 4th quarter worth about $26,000. Smartleaf Asset Management LLC increased its stake in Palomar by 536.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 414 shares of the company’s stock valued at $43,000 after acquiring an additional 349 shares during the period. Jones Financial Companies Lllp raised its holdings in Palomar by 63.2% in the 4th quarter. Jones Financial Companies Lllp now owns 493 shares of the company’s stock valued at $52,000 after acquiring an additional 191 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Palomar by 21.8% in the 4th quarter. Farther Finance Advisors LLC now owns 554 shares of the company’s stock worth $58,000 after acquiring an additional 99 shares during the period. Finally, KBC Group NV grew its holdings in shares of Palomar by 44.9% during the 4th quarter. KBC Group NV now owns 1,045 shares of the company’s stock worth $110,000 after purchasing an additional 324 shares in the last quarter. 90.25% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Palomar news, CEO Mac Armstrong sold 5,000 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $129.72, for a total value of $648,600.00. Following the completion of the transaction, the chief executive officer now directly owns 402,388 shares of the company’s stock, valued at approximately $52,197,771.36. The trade was a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Jon Christianson sold 819 shares of the company’s stock in a transaction that occurred on Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total transaction of $86,699.34. Following the transaction, the president now owns 55,126 shares in the company, valued at $5,835,638.36. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,455 shares of company stock valued at $3,911,340. 4.30% of the stock is currently owned by corporate insiders.

Palomar Stock Up 0.1 %

Shares of PLMR stock opened at $136.77 on Monday. The company has a market capitalization of $3.65 billion, a P/E ratio of 30.53 and a beta of 0.33. Palomar Holdings, Inc. has a 12-month low of $74.09 and a 12-month high of $138.69. The firm has a 50-day moving average price of $120.94 and a 200 day moving average price of $108.23.

Palomar (NASDAQ:PLMR) last posted its earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. As a group, research analysts expect that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on PLMR shares. Piper Sandler raised their target price on Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods raised their price objective on shares of Palomar from $152.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, March 21st. Truist Financial upped their target price on shares of Palomar from $112.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, JMP Securities restated a “market perform” rating on shares of Palomar in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $127.83.

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.