Villere ST Denis J & Co. LLC Has $41.33 Million Holdings in Palomar Holdings, Inc. $PLMR

Villere ST Denis J & Co. LLC reduced its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 3.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 267,953 shares of the company’s stock after selling 8,182 shares during the quarter. Palomar accounts for about 4.0% of Villere ST Denis J & Co. LLC’s investment portfolio, making the stock its 3rd biggest holding. Villere ST Denis J & Co. LLC’s holdings in Palomar were worth $41,332,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Maseco LLP bought a new stake in Palomar during the 2nd quarter valued at about $45,000. Nisa Investment Advisors LLC increased its stake in Palomar by 185.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 311 shares of the company’s stock valued at $43,000 after purchasing an additional 202 shares in the last quarter. IFP Advisors Inc increased its stake in Palomar by 556.9% during the 2nd quarter. IFP Advisors Inc now owns 335 shares of the company’s stock valued at $52,000 after purchasing an additional 284 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in Palomar during the 1st quarter valued at about $46,000. Finally, TCTC Holdings LLC increased its stake in Palomar by 116.5% during the 1st quarter. TCTC Holdings LLC now owns 381 shares of the company’s stock valued at $52,000 after purchasing an additional 205 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors.

Palomar Trading Down 1.4%

PLMR opened at $118.07 on Friday. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 20.75 and a beta of 0.30. The company’s 50 day moving average is $119.53 and its 200 day moving average is $139.26. Palomar Holdings, Inc. has a 12-month low of $85.00 and a 12-month high of $175.85.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings data on Friday, December 16th. The company reported $0.07 earnings per share (EPS) for the quarter. Palomar had a net margin of 22.71% and a return on equity of 20.35%. The company had revenue of $65.74 million for the quarter. As a group, analysts predict that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Insider Buying and Selling at Palomar

In other Palomar news, COO Rodolphe Herve sold 1,130 shares of Palomar stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $130.10, for a total transaction of $147,013.00. Following the transaction, the chief operating officer owned 807 shares of the company’s stock, valued at $104,990.70. The trade was a 58.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mac Armstrong sold 5,000 shares of Palomar stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $116.02, for a total transaction of $580,100.00. Following the transaction, the chief executive officer directly owned 372,388 shares in the company, valued at $43,204,455.76. This represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,905 shares of company stock valued at $2,839,676. 3.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PLMR. Keefe, Bruyette & Woods reduced their price objective on shares of Palomar from $204.00 to $172.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Evercore ISI dropped their price target on shares of Palomar from $168.00 to $134.00 and set an “in-line” rating on the stock in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Palomar in a report on Wednesday. Piper Sandler dropped their price target on shares of Palomar from $177.00 to $151.00 and set an “overweight” rating on the stock in a report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Palomar from $158.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Palomar presently has an average rating of “Moderate Buy” and an average price target of $156.67.

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.