Avantax Advisory Services Inc. Has $616,000 Stock Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Avantax Advisory Services Inc. boosted its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,837 shares of the company’s stock after purchasing an additional 145 shares during the period. Avantax Advisory Services Inc.’s holdings in Palomar were worth $616,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. bought a new position in Palomar during the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC raised its holdings 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 buying an additional 349 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Palomar by 63.2% during the fourth quarter. Jones Financial Companies Lllp now owns 493 shares of the company’s stock valued at $52,000 after buying an additional 191 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Palomar by 21.8% during the fourth quarter. Farther Finance Advisors LLC now owns 554 shares of the company’s stock valued at $58,000 after buying an additional 99 shares in the last quarter. Finally, KBC Group NV raised its holdings in Palomar by 44.9% during the fourth quarter. KBC Group NV now owns 1,045 shares of the company’s stock valued at $110,000 after buying an additional 324 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Analyst Ratings Changes

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

Insider Transactions at Palomar

In other Palomar news, CFO T Christopher Uchida sold 394 shares of the company’s stock in a transaction on Sunday, January 26th. The stock was sold at an average price of $101.69, for a total transaction of $40,065.86. Following the transaction, the chief financial officer now owns 16,943 shares of the company’s stock, valued at approximately $1,722,933.67. This represents a 2.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mac Armstrong sold 7,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $103.04, for a total value of $721,280.00. Following the transaction, the chief executive officer now directly owns 419,388 shares in the company, valued at approximately $43,213,739.52. This represents a 1.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,455 shares of company stock valued at $4,632,620 in the last three months. 4.30% of the stock is owned by corporate insiders.

Palomar Stock Down 1.1 %

Shares of PLMR opened at $129.32 on Friday. Palomar Holdings, Inc. has a 12-month low of $74.09 and a 12-month high of $136.90. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 28.87 and a beta of 0.33. The stock’s 50-day moving average price is $118.05 and its 200 day moving average price is $106.66.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share (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 research analysts expect that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

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.