3,850 Shares in Palomar Holdings, Inc. (NASDAQ:PLMR) Purchased by Everence Capital Management Inc.

Everence Capital Management Inc. acquired a new position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 3,850 shares of the company’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Los Angeles Capital Management LLC increased its position in shares of Palomar by 0.9% during the 3rd quarter. Los Angeles Capital Management LLC now owns 27,529 shares of the company’s stock worth $1,397,000 after purchasing an additional 256 shares during the last quarter. Westfield Capital Management Co. LP increased its position in shares of Palomar by 26.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 433,346 shares of the company’s stock worth $21,992,000 after purchasing an additional 89,410 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Palomar by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 195,862 shares of the company’s stock worth $9,940,000 after purchasing an additional 6,903 shares during the last quarter. Barclays PLC increased its position in shares of Palomar by 11.2% during the 3rd quarter. Barclays PLC now owns 15,059 shares of the company’s stock worth $764,000 after purchasing an additional 1,514 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of Palomar during the 3rd quarter worth about $538,000. 90.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PLMR has been the subject of a number of recent analyst reports. Evercore ISI raised their price objective on Palomar from $68.00 to $86.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Jefferies Financial Group raised Palomar from a “hold” rating to a “buy” rating and lifted their target price for the company from $78.00 to $88.00 in a research report on Thursday, March 14th. JMP Securities reaffirmed a “market perform” rating on shares of Palomar in a research report on Monday, April 15th. Keefe, Bruyette & Woods lifted their target price on Palomar from $88.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Finally, Truist Financial lifted their target price on Palomar from $72.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $87.50.

Insider Activity

In other news, CEO Mac Armstrong sold 952 shares of Palomar stock in a transaction dated Saturday, January 27th. The stock was sold at an average price of $60.13, for a total value of $57,243.76. Following the completion of the transaction, the chief executive officer now owns 44,117 shares in the company, valued at approximately $2,652,755.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Mac Armstrong sold 952 shares of the business’s stock in a transaction that occurred on Saturday, January 27th. The stock was sold at an average price of $60.13, for a total transaction of $57,243.76. Following the completion of the sale, the chief executive officer now owns 44,117 shares in the company, valued at $2,652,755.21. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Jon Christianson sold 423 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $60.13, for a total value of $25,434.99. Following the sale, the president now owns 70,612 shares of the company’s stock, valued at approximately $4,245,899.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,509 shares of company stock worth $2,999,157. 4.40% of the stock is currently owned by company insiders.

Palomar Stock Performance

Shares of PLMR opened at $79.22 on Friday. The stock has a 50-day simple moving average of $76.95 and a 200-day simple moving average of $64.07. The stock has a market capitalization of $1.97 billion, a PE ratio of 25.39 and a beta of 0.21. Palomar Holdings, Inc. has a 1 year low of $46.09 and a 1 year high of $86.25.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.09. The business had revenue of $102.35 million during the quarter, compared to analysts’ expectations of $95.07 million. Palomar had a return on equity of 19.35% and a net margin of 21.07%. Analysts predict that Palomar Holdings, Inc. will post 3.84 EPS for the current year.

Palomar Company 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.