Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. cut its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR) by 1.2% in the 4th quarter, HoldingsChannel reports. The fund owned 45,856 shares of the company’s stock after selling 571 shares during the period. Prudential Financial Inc.’s holdings in Palomar were worth $4,842,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. State Street Corp increased its stake in Palomar by 3.0% in 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 holdings in Palomar by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock valued at $56,822,000 after buying an additional 18,335 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Palomar by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 128,165 shares of the company’s stock valued at $12,133,000 after acquiring an additional 11,140 shares during the last quarter. HighTower Advisors LLC purchased a new position in shares of Palomar during the 3rd quarter worth about $1,711,000. Finally, Principal Financial Group Inc. boosted its position in shares of Palomar by 5.6% in the fourth quarter. Principal Financial Group Inc. now owns 147,540 shares of the company’s stock worth $15,579,000 after acquiring an additional 7,875 shares during the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Insider Transactions at Palomar

In other news, CFO T Christopher Uchida sold 1,000 shares of Palomar stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $139.00, for a total transaction of $139,000.00. Following the sale, the chief financial officer now directly owns 10,172 shares of the company’s stock, valued at approximately $1,413,908. The trade was a 8.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mac Armstrong sold 5,000 shares of the 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 $52,197,771.36. This represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,455 shares of company stock valued at $4,050,340. Corporate insiders own 4.30% of the company’s stock.

Palomar Price Performance

NASDAQ:PLMR opened at $137.08 on Tuesday. The business’s 50-day moving average is $121.48 and its two-hundred day moving average is $108.54. The firm has a market capitalization of $3.66 billion, a PE ratio of 30.60 and a beta of 0.33. Palomar Holdings, Inc. has a 12 month low of $74.09 and a 12 month high of $139.21.

Palomar (NASDAQ:PLMR) last announced its earnings results on Wednesday, February 12th. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.24 by $0.13. Palomar had a return on equity of 19.76% and a net margin of 21.23%. Equities analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Analysts Set New Price Targets

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