17,320 Shares in Palomar Holdings, Inc. (NASDAQ:PLMR) Purchased by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC acquired a new position in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 17,320 shares of the company's stock, valued at approximately $2,374,000. Crestwood Advisors Group LLC owned approximately 0.06% of Palomar as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in Palomar in the 4th quarter valued at about $3,064,000. Swiss National Bank lifted its holdings in Palomar by 5.5% in the 4th quarter. Swiss National Bank now owns 51,500 shares of the company's stock valued at $5,438,000 after purchasing an additional 2,700 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of Palomar by 4.5% during the 4th quarter. Natixis Advisors LLC now owns 11,110 shares of the company's stock valued at $1,173,000 after acquiring an additional 475 shares during the last quarter. Cibc World Markets Corp acquired a new position in shares of Palomar during the 4th quarter valued at about $254,000. Finally, American Century Companies Inc. increased its stake in shares of Palomar by 36.6% during the 4th quarter. American Century Companies Inc. now owns 785,419 shares of the company's stock valued at $82,932,000 after acquiring an additional 210,523 shares during the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palomar

In other news, CEO Mac Armstrong sold 3,191 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $143.10, for a total transaction of $456,632.10. Following the completion of the transaction, the chief executive officer directly owned 73,245 shares in the company, valued at $10,481,359.50. The trade was a 4.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Timothy Carter sold 473 shares of the business's stock in a transaction on Saturday, June 28th. The stock was sold at an average price of $153.65, for a total transaction of $72,676.45. Following the transaction, the insider directly owned 361 shares in the company, valued at $55,467.65. This trade represents a 56.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,164 shares of company stock worth $2,360,589 over the last ninety days. 3.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. JPMorgan Chase & Co. upgraded 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 note on Tuesday, April 8th. Wall Street Zen downgraded shares of Palomar from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Keefe, Bruyette & Woods lowered their price objective on shares of Palomar from $205.00 to $204.00 and set an "outperform" rating for the company in a research report on Monday, June 30th. Truist Financial raised their price objective on Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. Finally, Evercore ISI raised their target price on Palomar from $163.00 to $168.00 and gave the company an "in-line" rating in a research note on Friday, May 30th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Palomar currently has a consensus rating of "Moderate Buy" and a consensus price target of $174.17.

Palomar Stock Up 0.2%

Shares of NASDAQ PLMR opened at $139.86 on Tuesday. Palomar Holdings, Inc. has a fifty-two week low of $82.55 and a fifty-two week high of $175.85. The firm's 50-day simple moving average is $155.74 and its 200 day simple moving average is $137.67. The stock has a market cap of $3.74 billion, a P/E ratio of 27.92 and a beta of 0.46.

Palomar (NASDAQ:PLMR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.61 by $0.26. The firm had revenue of $174.63 million for the quarter, compared to analyst estimates of $161.97 million. Palomar had a return on equity of 20.56% and a net margin of 21.99%. During the same period in the previous year, the company earned $1.09 earnings per share. On average, sell-side analysts anticipate 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.

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