Captrust Financial Advisors Acquires 2,024 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Captrust Financial Advisors lifted its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 36.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,505 shares of the company's stock after buying an additional 2,024 shares during the period. Captrust Financial Advisors' holdings in Palomar were worth $792,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PLMR. Blue Trust Inc. purchased a new stake in Palomar in the 4th quarter valued at about $26,000. Smartleaf Asset Management LLC grew its holdings in shares of Palomar by 536.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 414 shares of the company's stock valued at $43,000 after acquiring an additional 349 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Palomar by 63.2% during the fourth quarter. Jones Financial Companies Lllp now owns 493 shares of the company's stock valued at $52,000 after acquiring an additional 191 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Palomar by 21.8% during the fourth quarter. Farther Finance Advisors LLC now owns 554 shares of the company's stock worth $58,000 after acquiring an additional 99 shares during the period. Finally, KBC Group NV lifted its holdings in Palomar by 44.9% during the fourth quarter. KBC Group NV now owns 1,045 shares of the company's stock worth $110,000 after acquiring an additional 324 shares during the period. Institutional investors own 90.25% of the company's stock.

Insider Buying and Selling

In related news, CEO Mac Armstrong sold 5,000 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $161.96, for a total value of $809,800.00. Following the sale, the chief executive officer now owns 392,388 shares in the company, valued at approximately $63,551,160.48. This trade represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO T Christopher Uchida sold 500 shares of Palomar stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $153.04, for a total value of $76,520.00. Following the sale, the chief financial officer now directly owns 7,672 shares of the company's stock, valued at $1,174,122.88. This represents a 6.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,202 shares of company stock valued at $3,265,129. Corporate insiders own 3.70% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PLMR. Truist Financial raised their target price on Palomar from $150.00 to $178.00 and gave the company a "buy" rating in a research report on Tuesday, April 15th. JMP Securities restated a "market perform" rating on shares of Palomar in a report on Thursday, February 13th. Jefferies Financial Group lifted their price objective on shares of Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. JPMorgan Chase & Co. raised shares of Palomar from a "neutral" rating to an "overweight" rating and increased their target price for the company from $115.00 to $150.00 in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Palomar from $155.00 to $145.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $148.33.

Palomar Trading Down 1.8%

Shares of PLMR stock traded down $2.97 during trading on Thursday, reaching $158.57. 112,704 shares of the company's stock traded hands, compared to its average volume of 198,862. The firm's 50-day moving average is $145.73 and its 200 day moving average is $122.74. The company has a market capitalization of $4.24 billion, a P/E ratio of 35.42 and a beta of 0.51. Palomar Holdings, Inc. has a 1 year low of $77.28 and a 1 year high of $165.00.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.26. Palomar had a return on equity of 19.76% and a net margin of 21.23%. The firm had revenue of $174.63 million for the quarter, compared to the consensus estimate of $161.97 million. During the same quarter in the prior year, the business posted $1.09 earnings per share. As a group, sell-side analysts predict that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal 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.