Captrust Financial Advisors Has $519,000 Stock Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Captrust Financial Advisors lessened its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 5.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,481 shares of the company’s stock after selling 331 shares during the quarter. Captrust Financial Advisors’ holdings in Palomar were worth $519,000 at the end of the most recent quarter.

Several other 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 3rd quarter worth $25,000. GAMMA Investing LLC lifted its holdings in shares of Palomar by 48.6% during the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after purchasing an additional 125 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Palomar by 490.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $43,000 after purchasing an additional 378 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Palomar in the 2nd quarter valued at approximately $49,000. Finally, Covestor Ltd increased its stake in Palomar by 20.2% during the 3rd quarter. Covestor Ltd now owns 1,076 shares of the company’s stock worth $102,000 after purchasing an additional 181 shares in the last quarter. Institutional investors own 90.25% of the company’s stock.

Insider Buying and Selling

In related news, CEO Mac Armstrong sold 7,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $95.49, for a total value of $668,430.00. Following the completion of the transaction, the chief executive officer now directly owns 440,388 shares in the company, valued at $42,052,650.12. This trade represents a 1.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Jon Christianson sold 3,805 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $103.04, for a total transaction of $392,067.20. Following the sale, the president now directly owns 51,926 shares in the company, valued at $5,350,455.04. This trade represents a 6.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,326 shares of company stock worth $2,688,779 in the last three months. 4.30% of the stock is owned by corporate insiders.

Palomar Stock Up 1.0 %

NASDAQ PLMR opened at $109.57 on Friday. The company’s 50 day moving average is $100.79 and its 200-day moving average is $93.52. Palomar Holdings, Inc. has a 12-month low of $54.50 and a 12-month high of $112.10. The firm has a market cap of $2.90 billion, a P/E ratio of 26.03 and a beta of 0.36.

Palomar (NASDAQ:PLMR) last released its quarterly earnings results on Monday, November 4th. The company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.20. Palomar had a net margin of 21.55% and a return on equity of 19.65%. The business had revenue of $148.50 million during the quarter, compared to analysts’ expectations of $134.72 million. During the same quarter in the previous year, the company earned $0.80 EPS. Equities analysts expect that Palomar Holdings, Inc. will post 4.33 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on PLMR. Jefferies Financial Group lifted their price target on Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Piper Sandler lifted their target price on Palomar from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. boosted their target price on Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $111.67.

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.