Cwm LLC Sells 27,292 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Cwm LLC trimmed its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 19.9% during the 1st quarter, HoldingsChannel reports. The firm owned 109,975 shares of the company’s stock after selling 27,292 shares during the quarter. Cwm LLC’s holdings in Palomar were worth $7,373,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PLMR. Veriti Management LLC bought a new stake in shares of Palomar in the fourth quarter worth about $55,000. Vantage Consulting Group Inc bought a new stake in Palomar during the fourth quarter worth approximately $61,000. Contravisory Investment Management Inc. bought a new stake in Palomar during the fourth quarter worth approximately $121,000. US Bancorp DE increased its stake in Palomar by 13.3% during the fourth quarter. US Bancorp DE now owns 1,669 shares of the company’s stock worth $149,000 after acquiring an additional 196 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Palomar by 25.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,147 shares of the company’s stock valued at $191,000 after buying an additional 438 shares during the last quarter. 90.70% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:PLMR opened at $67.45 on Tuesday. Palomar Holdings, Inc. has a 52-week low of $52.04 and a 52-week high of $121.87. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 85.38 and a beta of -0.13. The business has a 50-day moving average price of $71.28 and a 200-day moving average price of $84.41.

Palomar (NASDAQ:PLMR) last released its earnings results on Wednesday, February 24th. The company reported ($0.05) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.05). Palomar had a return on equity of 6.95% and a net margin of 11.97%. The firm had revenue of $42.05 million during the quarter, compared to the consensus estimate of $44.35 million. Research analysts expect that Palomar Holdings, Inc. will post 0.62 EPS for the current fiscal year.

A number of equities analysts have recently issued reports on the company. Barclays raised Palomar from an “equal weight” rating to an “overweight” rating and set a $94.00 price target on the stock in a research report on Thursday, April 1st. JMP Securities reduced their price target on Palomar from $105.00 to $95.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 22nd. Finally, Zacks Investment Research raised Palomar from a “sell” rating to a “hold” rating and set a $74.00 price target on the stock in a research report on Wednesday, March 17th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Palomar currently has an average rating of “Buy” and a consensus target price of $93.57.

In related news, CFO T Christopher Uchida sold 600 shares of Palomar stock in a transaction that occurred on Thursday, April 22nd. The stock was sold at an average price of $72.78, for a total transaction of $43,668.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Heath A. Fisher sold 6,500 shares of Palomar stock in a transaction that occurred on Wednesday, April 21st. The shares were sold at an average price of $71.84, for a total value of $466,960.00. The disclosure for this sale can be found here. Insiders have sold 69,300 shares of company stock valued at $5,894,629 in the last ninety days. Corporate insiders own 7.70% of the company’s stock.

About Palomar

Palomar Holdings, Inc, an insurance holding company, provides specialty property insurance to residential and commercial customers. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance, commercial flood, real estate error and omission, and real estate investor products.

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Institutional Ownership by Quarter for Palomar (NASDAQ:PLMR)

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