Swiss National Bank Has $5.44 Million Stock Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Swiss National Bank increased its stake in Palomar Holdings, Inc. (NASDAQ:PLMR) by 5.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,500 shares of the company’s stock after purchasing an additional 2,700 shares during the quarter. Swiss National Bank owned approximately 0.19% of Palomar worth $5,438,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLMR. Avantax Advisory Services Inc. increased its position in shares of Palomar by 2.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 5,837 shares of the company’s stock worth $616,000 after acquiring an additional 145 shares in the last quarter. Farther Finance Advisors LLC grew its position in Palomar by 21.8% during the 4th quarter. Farther Finance Advisors LLC now owns 554 shares of the company’s stock worth $58,000 after purchasing an additional 99 shares in the last quarter. Moran Wealth Management LLC raised its stake in Palomar by 6.5% during the 4th quarter. Moran Wealth Management LLC now owns 6,160 shares of the company’s stock valued at $650,000 after purchasing an additional 378 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Palomar by 16.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,832 shares of the company’s stock valued at $827,000 after purchasing an additional 1,127 shares in the last quarter. Finally, Amundi boosted its position in shares of Palomar by 753.4% in the fourth quarter. Amundi now owns 39,344 shares of the company’s stock worth $4,165,000 after buying an additional 34,734 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Insider Transactions at Palomar

In other news, CFO T Christopher Uchida sold 864 shares of the business’s stock in a transaction on Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total value of $91,463.04. Following the completion of the sale, the chief financial officer now directly owns 17,288 shares in the company, valued at approximately $1,830,107.68. The trade was a 4.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Angela L. Grant sold 1,505 shares of the firm’s stock in a transaction on Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total transaction of $159,319.30. Following the completion of the transaction, the insider now owns 2,534 shares in the company, valued at $268,249.24. The trade was a 37.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,455 shares of company stock worth $3,911,340. 4.30% of the stock is owned by corporate insiders.

Palomar Stock Down 1.1 %

NASDAQ PLMR opened at $129.32 on Monday. The stock has a market capitalization of $3.45 billion, a PE ratio of 28.87 and a beta of 0.33. Palomar Holdings, Inc. has a 12-month low of $74.09 and a 12-month high of $136.90. The company has a 50 day moving average price of $118.05 and a two-hundred day moving average price of $106.78.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data 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 net margin of 21.23% and a return on equity of 19.76%. As a group, equities analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Analyst Upgrades and Downgrades

PLMR has been the subject of several research analyst reports. Truist Financial increased 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. JMP Securities restated a “market perform” rating on shares of Palomar in a report on Thursday, February 13th. Keefe, Bruyette & Woods upped their price objective on shares of Palomar from $152.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Piper Sandler lifted their target price on shares of Palomar from $133.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.