Universal Beteiligungs und Servicegesellschaft mbH Makes New $5.65 Million Investment in Palomar Holdings, Inc. (NASDAQ:PLMR)

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 53,524 shares of the company's stock, valued at approximately $5,652,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.20% of Palomar as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Farther Finance Advisors LLC increased its stake in Palomar by 21.8% during the 4th quarter. Farther Finance Advisors LLC now owns 554 shares of the company's stock valued at $58,000 after purchasing an additional 99 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Palomar by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company's stock worth $1,352,000 after acquiring an additional 100 shares during the period. State of Alaska Department of Revenue lifted its stake in Palomar by 0.7% in the fourth quarter. State of Alaska Department of Revenue now owns 15,042 shares of the company's stock valued at $1,588,000 after purchasing an additional 100 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in Palomar by 2.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 5,837 shares of the company's stock worth $616,000 after acquiring an additional 145 shares during the last quarter. Finally, Covestor Ltd boosted its position in Palomar by 13.8% during the fourth quarter. Covestor Ltd now owns 1,224 shares of the company's stock worth $129,000 after purchasing an additional 148 shares during the period. Institutional investors own 90.25% of the company's stock.

Palomar Trading Up 4.6%

Shares of PLMR traded up $7.60 during trading hours on Friday, reaching $171.53. 520,448 shares of the company traded hands, compared to its average volume of 202,159. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 38.29 and a beta of 0.51. The stock's fifty day moving average price is $150.20 and its 200 day moving average price is $126.19. Palomar Holdings, Inc. has a 12-month low of $77.28 and a 12-month high of $172.37.

Palomar (NASDAQ:PLMR - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $1.87 EPS for the quarter, topping analysts' consensus estimates 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 21.23% and a return on equity of 19.76%. During the same period in the previous year, the company posted $1.09 earnings per share. On average, research analysts forecast that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PLMR. Jefferies Financial Group upped their target price on Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Piper Sandler upped their price target on shares of Palomar from $171.00 to $177.00 and gave the company an "overweight" rating in a research report on Friday. Truist Financial lifted their target price on shares of Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. raised Palomar from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $115.00 to $150.00 in a research note on Tuesday, April 8th. Finally, Wall Street Zen raised shares of Palomar from a "hold" rating to a "buy" rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $164.33.

Insider Buying and Selling at Palomar

In other Palomar news, CEO Mac Armstrong sold 3,202 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $153.04, for a total value of $490,034.08. Following the sale, the chief executive officer now owns 70,186 shares of the company's stock, valued at $10,741,265.44. This trade represents a 4.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO T Christopher Uchida sold 1,000 shares of the company's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $139.00, for a total value of $139,000.00. Following the transaction, the chief financial officer now directly owns 10,172 shares of the company's stock, valued at approximately $1,413,908. This represents a 8.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,202 shares of company stock valued at $3,265,129. Corporate insiders own 3.70% of the company's stock.

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.