Legal & General Group Plc Sells 559 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Legal & General Group Plc lessened its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,842 shares of the company’s stock after selling 559 shares during the quarter. Legal & General Group Plc owned 0.28% of Palomar worth $7,797,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PLMR. Blue Trust Inc. purchased a new stake in Palomar in the 4th quarter valued at $26,000. Smartleaf Asset Management LLC lifted its position in shares of Palomar by 536.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 414 shares of the company’s stock valued at $43,000 after purchasing an additional 349 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings 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 last quarter. Farther Finance Advisors LLC grew its position in Palomar by 21.8% in the 4th quarter. Farther Finance Advisors LLC now owns 554 shares of the company’s stock worth $58,000 after purchasing an additional 99 shares in the last quarter. Finally, KBC Group NV increased its stake in Palomar by 44.9% in the 4th quarter. KBC Group NV now owns 1,045 shares of the company’s stock valued at $110,000 after buying an additional 324 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Palomar Trading Down 0.4 %

PLMR stock opened at $149.79 on Friday. Palomar Holdings, Inc. has a 1-year low of $77.17 and a 1-year high of $155.87. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 33.44 and a beta of 0.46. The company’s 50 day moving average is $132.55 and its 200 day moving average is $113.44.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. As a group, sell-side analysts forecast that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Insider Buying and Selling at Palomar

In other Palomar news, CFO T Christopher Uchida sold 1,030 shares of Palomar stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $109.65, for a total value of $112,939.50. Following the transaction, the chief financial officer now directly owns 16,258 shares of the company’s stock, valued at $1,782,689.70. The trade was a 5.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mac Armstrong sold 7,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $109.76, for a total value of $768,320.00. Following the sale, the chief executive officer now directly owns 412,388 shares of the company’s stock, valued at approximately $45,263,706.88. This trade represents a 1.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,645 shares of company stock worth $3,787,579 over the last three months. Company insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. JPMorgan Chase & Co. raised Palomar from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $115.00 to $150.00 in a research report on Tuesday, April 8th. Truist Financial raised their price target on shares of Palomar from $150.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday. Jefferies Financial Group increased their price objective on Palomar from $145.00 to $168.00 and gave the company a “buy” rating in a report on Friday, April 11th. Piper Sandler increased their price target on Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Palomar from $155.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.33.

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.