F m Investments LLC Reduces Stock Position in Palomar Holdings, Inc. $PLMR

F m Investments LLC trimmed its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 17.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,453 shares of the company’s stock after selling 9,023 shares during the quarter. F m Investments LLC owned approximately 0.16% of Palomar worth $6,548,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Cetera Investment Advisers grew its position in shares of Palomar by 12.9% in the 1st quarter. Cetera Investment Advisers now owns 7,078 shares of the company’s stock worth $970,000 after acquiring an additional 811 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Palomar by 3.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,102 shares of the company’s stock worth $1,111,000 after purchasing an additional 270 shares during the last quarter. Mackenzie Financial Corp acquired a new position in Palomar in the first quarter worth $224,000. Harvest Fund Management Co. Ltd bought a new stake in Palomar during the first quarter valued at $146,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of Palomar during the first quarter worth $322,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on PLMR shares. Evercore ISI lowered their target price on Palomar from $168.00 to $134.00 and set an “in-line” rating for the company in a report on Wednesday, October 1st. Weiss Ratings restated a “hold (c+)” rating on shares of Palomar in a research note on Wednesday, October 8th. Piper Sandler dropped their target price on Palomar from $177.00 to $151.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 6th. Keefe, Bruyette & Woods boosted their target price on shares of Palomar from $164.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday, November 11th. Finally, Wall Street Zen upgraded shares of Palomar from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $157.67.

Insider Buying and Selling at Palomar

In other Palomar news, CFO T Christopher Uchida sold 782 shares of the company’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $128.84, for a total value of $100,752.88. Following the transaction, the chief financial officer owned 7,916 shares of the company’s stock, valued at approximately $1,019,897.44. This represents a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan Knutzen sold 281 shares of the stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $128.84, for a total value of $36,204.04. Following the completion of the transaction, the insider owned 21,565 shares of the company’s stock, valued at $2,778,434.60. This trade represents a 1.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 19,803 shares of company stock worth $2,348,771. 3.70% of the stock is owned by corporate insiders.

Palomar Stock Performance

Shares of PLMR stock opened at $123.95 on Friday. Palomar Holdings, Inc. has a 1 year low of $98.42 and a 1 year high of $175.85. The business’s fifty day moving average is $118.75 and its 200-day moving average is $133.21. The stock has a market cap of $3.28 billion, a PE ratio of 21.78 and a beta of 0.25.

Palomar (NASDAQ:PLMR) last announced its earnings results on Friday, December 16th. The company reported $0.07 earnings per share for the quarter. Palomar had a return on equity of 20.35% and a net margin of 22.71%.The business had revenue of $65.74 million during the quarter. Equities research analysts predict that Palomar Holdings, Inc. will post 5.99 earnings per share for the current 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.