Geneva Capital Management LLC Reduces Stock Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Geneva Capital Management LLC lessened its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 1.3% during the 4th quarter, Holdings Channel reports. The firm owned 336,381 shares of the company’s stock after selling 4,382 shares during the quarter. Geneva Capital Management LLC’s holdings in Palomar were worth $35,519,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in PLMR. Blue Trust Inc. purchased a new stake in Palomar during the 4th quarter valued at about $26,000. Farther Finance Advisors LLC boosted its stake in shares of Palomar by 490.9% in the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $43,000 after buying an additional 378 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Palomar by 536.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 414 shares of the company’s stock worth $43,000 after buying an additional 349 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Palomar by 63.2% in the fourth quarter. Jones Financial Companies Lllp now owns 493 shares of the company’s stock worth $52,000 after buying an additional 191 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of Palomar by 20.2% in the third quarter. Covestor Ltd now owns 1,076 shares of the company’s stock worth $102,000 after buying an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Insider Buying and Selling at Palomar

In other Palomar news, CFO T Christopher Uchida sold 394 shares of the stock in a transaction that occurred on Sunday, January 26th. The stock was sold at an average price of $101.69, for a total transaction of $40,065.86. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Jon Christianson sold 356 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $104.51, for a total value of $37,205.56. Following the transaction, the president now directly owns 57,259 shares of the company’s stock, valued at $5,984,138.09. The trade was a 0.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,485 shares of company stock valued at $4,098,195 over the last quarter. 4.30% of the stock is currently owned by insiders.

Palomar Trading Up 1.3 %

NASDAQ PLMR opened at $128.89 on Thursday. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 28.77 and a beta of 0.33. Palomar Holdings, Inc. has a twelve month low of $71.54 and a twelve month high of $136.90. The stock has a 50-day moving average of $112.17 and a 200 day moving average of $104.01.

Palomar (NASDAQ:PLMR) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share for the quarter, topping 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%. Equities analysts predict that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Piper Sandler upped their target price on Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Truist Financial upped their target price on Palomar from $112.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. 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 note on Tuesday, February 18th. JMP Securities restated a “market perform” rating on shares of Palomar in a research note on Thursday, February 13th. Finally, 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 note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.