Left Brain Wealth Management LLC Invests $274,000 in Palomar Holdings, Inc. (NASDAQ:PLMR)

Left Brain Wealth Management LLC acquired a new stake in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 2,000 shares of the company's stock, valued at approximately $274,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Palomar by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 2,574,923 shares of the company's stock valued at $271,886,000 after buying an additional 53,123 shares during the period. American Century Companies Inc. increased its stake in Palomar by 36.6% in the 4th quarter. American Century Companies Inc. now owns 785,419 shares of the company's stock valued at $82,932,000 after buying an additional 210,523 shares during the period. Geode Capital Management LLC increased its stake in Palomar by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 618,840 shares of the company's stock valued at $65,358,000 after buying an additional 18,748 shares during the period. Dimensional Fund Advisors LP increased its stake in Palomar by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 561,740 shares of the company's stock valued at $59,313,000 after buying an additional 17,320 shares during the period. Finally, Artemis Investment Management LLP increased its stake in Palomar by 17.0% in the 1st quarter. Artemis Investment Management LLP now owns 532,554 shares of the company's stock valued at $73,003,000 after buying an additional 77,472 shares during the period. Institutional investors and hedge funds own 90.25% of the company's stock.

Palomar Price Performance

Shares of NASDAQ PLMR traded down $3.59 during trading hours on Friday, hitting $135.01. 274,530 shares of the stock were exchanged, compared to its average volume of 220,131. The company's 50 day moving average is $157.37 and its 200 day moving average is $136.18. The firm has a market capitalization of $3.61 billion, a P/E ratio of 26.95 and a beta of 0.46. Palomar Holdings, Inc. has a one year low of $82.55 and a one year high of $175.85.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $174.63 million during the quarter, compared to the consensus estimate of $161.97 million. Palomar had a net margin of 21.99% and a return on equity of 20.56%. During the same period in the prior year, the firm earned $1.09 EPS. Research analysts anticipate that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palomar news, CFO T Christopher Uchida sold 500 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $158.69, for a total value of $79,345.00. Following the completion of the sale, the chief financial officer directly owned 7,420 shares of the company's stock, valued at $1,177,479.80. This represents a 6.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mac Armstrong sold 5,000 shares of the stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $158.14, for a total transaction of $790,700.00. Following the completion of the sale, the chief executive officer directly owned 387,388 shares of the company's stock, valued at approximately $61,261,538.32. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 21,175 shares of company stock valued at $3,276,251. Company insiders own 3.70% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PLMR shares. Wall Street Zen lowered shares of Palomar from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Jefferies Financial Group increased their price target on shares of Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Piper Sandler increased their price target on shares of Palomar from $171.00 to $177.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. upgraded shares of Palomar from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $115.00 to $150.00 in a research note on Tuesday, April 8th. Finally, Evercore ISI increased their price target on shares of Palomar from $163.00 to $168.00 and gave the stock an "in-line" rating in a research note on Friday, May 30th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Palomar has an average rating of "Moderate Buy" and a consensus price target of $174.17.

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.