Hohimer Wealth Management LLC boosted its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR – Free Report) by 3.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,617 shares of the company’s stock after purchasing an additional 99 shares during the quarter. Hohimer Wealth Management LLC’s holdings in Palomar were worth $359,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its position in Palomar by 185.3% during the first quarter. Nisa Investment Advisors LLC now owns 311 shares of the company’s stock worth $43,000 after purchasing an additional 202 shares during the period. Opal Wealth Advisors LLC bought a new stake in Palomar during the first quarter worth approximately $46,000. NBC Securities Inc. bought a new stake in Palomar during the first quarter worth approximately $53,000. USA Financial Formulas bought a new stake in Palomar during the first quarter worth approximately $55,000. Finally, Jones Financial Companies Lllp boosted its position in Palomar by 63.2% during the fourth quarter. Jones Financial Companies Lllp now owns 493 shares of the company’s stock worth $52,000 after purchasing an additional 191 shares during the period. Institutional investors own 90.25% of the company’s stock.
Palomar Stock Up 4.6%
Shares of PLMR stock opened at $141.17 on Tuesday. The stock has a 50 day moving average of $157.08 and a 200-day moving average of $136.65. The firm has a market cap of $3.77 billion, a PE ratio of 28.18 and a beta of 0.46. Palomar Holdings, Inc. has a 12 month low of $82.55 and a 12 month high of $175.85.
Insider Activity at Palomar
In related news, CFO T Christopher Uchida sold 500 shares of the company’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $159.77, for a total value of $79,885.00. Following the completion of the transaction, the chief financial officer directly owned 7,920 shares in the company, valued at approximately $1,265,378.40. This represents a 5.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Timothy Carter sold 473 shares of the company’s stock in a transaction on Saturday, June 28th. The shares were sold at an average price of $153.65, for a total value of $72,676.45. Following the completion of the transaction, the insider owned 361 shares of the company’s stock, valued at $55,467.65. The trade was a 56.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,973 shares of company stock worth $2,635,976. 3.70% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on PLMR. Evercore ISI upped their target price on Palomar from $163.00 to $168.00 and gave the stock an “in-line” rating in a research report on Friday, May 30th. Piper Sandler upped their target price on Palomar from $171.00 to $177.00 and gave the stock an “overweight” rating in a research report on Friday, May 30th. Keefe, Bruyette & Woods cut their price target on Palomar from $205.00 to $204.00 and set an “outperform” rating for the company in a report on Monday, June 30th. Truist Financial upped their price target on Palomar from $150.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 15th. Finally, Wall Street Zen lowered Palomar from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Palomar has an average rating of “Moderate Buy” and an average target price of $174.17.
Get Our Latest Analysis on PLMR
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.
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