Pathstone Holdings LLC Has $1.79 Million Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Pathstone Holdings LLC cut its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,952 shares of the company’s stock after selling 260 shares during the quarter. Pathstone Holdings LLC owned approximately 0.08% of Palomar worth $1,794,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Quest Partners LLC boosted its stake in Palomar by 1,122.5% in the third quarter. Quest Partners LLC now owns 4,181 shares of the company’s stock valued at $396,000 after buying an additional 3,839 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Palomar by 58.7% during the third quarter. Thrivent Financial for Lutherans now owns 32,837 shares of the company’s stock valued at $3,109,000 after purchasing an additional 12,147 shares in the last quarter. Natixis Advisors LLC acquired a new stake in shares of Palomar during the third quarter valued at about $1,007,000. Geneva Capital Management LLC boosted its stake in shares of Palomar by 0.3% during the third quarter. Geneva Capital Management LLC now owns 340,763 shares of the company’s stock valued at $32,260,000 after purchasing an additional 1,009 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Palomar by 7.4% during the third quarter. Victory Capital Management Inc. now owns 190,742 shares of the company’s stock valued at $18,058,000 after purchasing an additional 13,064 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on PLMR shares. 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. JPMorgan Chase & Co. lifted their price target on Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Evercore ISI lifted their price target on Palomar from $90.00 to $99.00 and gave the company an “in-line” rating in a research note on Tuesday, August 6th. Piper Sandler lifted their price target on Palomar from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, Truist Financial lifted their price target on Palomar from $100.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $109.00.

Insiders Place Their Bets

In other Palomar news, President Jon Christianson sold 10,000 shares of Palomar stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $94.40, for a total value of $944,000.00. Following the completion of the sale, the president now directly owns 51,926 shares in the company, valued at approximately $4,901,814.40. The trade was a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO T Christopher Uchida sold 1,030 shares of Palomar stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $97.65, for a total value of $100,579.50. Following the completion of the sale, the chief financial officer now owns 17,543 shares of the company’s stock, valued at approximately $1,713,073.95. The trade was a 5.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,326 shares of company stock worth $3,632,779. 4.30% of the stock is owned by corporate insiders.

Palomar Price Performance

Palomar stock opened at $108.44 on Thursday. The stock’s 50 day moving average is $97.93 and its 200 day moving average is $91.66. The firm has a market cap of $2.87 billion, a P/E ratio of 25.76 and a beta of 0.34. Palomar Holdings, Inc. has a one year low of $54.50 and a one year high of $111.27.

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

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.