NBW Capital LLC Sells 3,223 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

NBW Capital LLC decreased its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 91,337 shares of the company’s stock after selling 3,223 shares during the quarter. Palomar comprises 1.8% of NBW Capital LLC’s investment portfolio, making the stock its 17th largest holding. NBW Capital LLC owned 0.35% of Palomar worth $9,644,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PLMR. Blue Trust Inc. bought a new stake in shares of Palomar in the 4th quarter valued at approximately $26,000. Farther Finance Advisors LLC boosted its position in Palomar by 490.9% during the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $43,000 after purchasing an additional 378 shares during the period. Smartleaf Asset Management LLC boosted its position in Palomar by 536.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 414 shares of the company’s stock worth $43,000 after purchasing an additional 349 shares during the period. 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. Finally, Covestor Ltd boosted its position in Palomar by 20.2% during the third quarter. Covestor Ltd now owns 1,076 shares of the company’s stock worth $102,000 after purchasing an additional 181 shares during the period. Institutional investors own 90.25% of the company’s stock.

Palomar Stock Down 0.4 %

Shares of PLMR stock opened at $128.20 on Tuesday. Palomar Holdings, Inc. has a 12 month low of $71.54 and a 12 month high of $130.60. The firm has a market cap of $3.42 billion, a PE ratio of 28.62 and a beta of 0.38. The stock has a 50 day moving average of $111.25 and a 200-day moving average of $103.61.

Palomar (NASDAQ:PLMR) last issued its earnings results on Wednesday, February 12th. The company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.13. Palomar had a return on equity of 19.76% and a net margin of 21.23%. As a group, equities analysts predict that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Insider Activity at Palomar

In related news, President Jon Christianson sold 356 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $104.51, for a total value of $37,205.56. Following the completion of the transaction, the president now directly owns 57,259 shares in the company, valued at approximately $5,984,138.09. This represents a 0.62 % 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, CFO T Christopher Uchida sold 394 shares of the stock in a transaction on Sunday, January 26th. The stock was sold at an average price of $101.69, for a total value of $40,065.86. Following the transaction, the chief financial officer now owns 16,943 shares of the company’s stock, valued at $1,722,933.67. This represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,485 shares of company stock worth $4,098,195. 4.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PLMR has been the subject of a number of recent analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Palomar in a research report on Thursday, February 13th. JPMorgan Chase & Co. upped their target price on Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods upped their target price on Palomar from $136.00 to $152.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Piper Sandler upped their target price on Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, Truist Financial upped their price target on Palomar from $112.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $127.33.

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.