Cwm LLC Cuts Stock Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Cwm LLC lessened its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 16.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,309 shares of the company’s stock after selling 265 shares during the quarter. Cwm LLC’s holdings in Palomar were worth $73,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. New York State Common Retirement Fund boosted its holdings in shares of Palomar by 1.8% during the 3rd quarter. New York State Common Retirement Fund now owns 10,099 shares of the company’s stock worth $513,000 after purchasing an additional 182 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Palomar by 59.4% in the fourth quarter. Signaturefd LLC now owns 593 shares of the company’s stock valued at $33,000 after purchasing an additional 221 shares during the period. Los Angeles Capital Management LLC increased its position in Palomar by 0.9% during the third 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. Mirae Asset Global Investments Co. Ltd. raised its stake in Palomar by 4.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,135 shares of the company’s stock worth $618,000 after purchasing an additional 452 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in Palomar by 13.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,107 shares of the company’s stock valued at $310,000 after purchasing an additional 720 shares during the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLMR has been the topic of several analyst reports. Piper Sandler lifted their price target on shares of Palomar from $89.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday. Jefferies Financial Group raised Palomar from a “hold” rating to a “buy” rating and upped their price target for the company from $78.00 to $88.00 in a research note on Thursday, March 14th. JPMorgan Chase & Co. downgraded Palomar from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $79.00 to $85.00 in a research report on Monday, April 8th. Evercore ISI increased their target price on shares of Palomar from $68.00 to $86.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Palomar from $88.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.17.

Insider Buying and Selling

In related news, Director Thomas A. Bradley acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was acquired at an average price of $84.32 per share, for a total transaction of $84,320.00. Following the purchase, the director now owns 2,500 shares of the company’s stock, valued at approximately $210,800. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Thomas A. Bradley acquired 1,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were bought at an average cost of $84.32 per share, with a total value of $84,320.00. Following the transaction, the director now owns 2,500 shares in the company, valued at approximately $210,800. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Jon Christianson sold 2,000 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $60.00, for a total transaction of $120,000.00. Following the transaction, the president now owns 69,521 shares of the company’s stock, valued at approximately $4,171,260. The disclosure for this sale can be found here. Insiders sold 42,250 shares of company stock valued at $3,305,655 in the last three months. 4.30% of the stock is owned by corporate insiders.

Palomar Stock Performance

NASDAQ PLMR opened at $84.76 on Thursday. Palomar Holdings, Inc. has a one year low of $46.09 and a one year high of $86.25. The firm has a 50 day simple moving average of $79.43 and a 200-day simple moving average of $66.89. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 24.36 and a beta of 0.24.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.81 by $0.28. The business had revenue of $108.39 million during the quarter, compared to the consensus estimate of $322.10 million. Palomar had a net margin of 21.78% and a return on equity of 19.94%. The company’s quarterly revenue was up 29.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 earnings per share. Equities analysts predict that Palomar Holdings, Inc. will post 3.84 EPS for the current fiscal year.

About Palomar

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.