Conestoga Capital Advisors LLC Sells 6,815 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Conestoga Capital Advisors LLC decreased its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 32.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,905 shares of the company's stock after selling 6,815 shares during the quarter. Conestoga Capital Advisors LLC owned 0.05% of Palomar worth $1,906,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in PLMR. Vanguard Group Inc. lifted its position 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 acquiring an additional 53,123 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Palomar by 36.6% in the fourth quarter. American Century Companies Inc. now owns 785,419 shares of the company's stock worth $82,932,000 after purchasing an additional 210,523 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Palomar by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 618,840 shares of the company's stock valued at $65,358,000 after purchasing an additional 18,748 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Palomar by 3.2% during the fourth 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 last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Palomar by 39.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 432,060 shares of the company's stock worth $45,622,000 after buying an additional 122,057 shares in the last quarter. Institutional investors own 90.25% of the company's stock.

Insiders Place Their Bets

In other Palomar news, CEO Mac Armstrong sold 5,000 shares of the company's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $129.72, for a total value of $648,600.00. Following the completion of the transaction, the chief executive officer now directly owns 402,388 shares in the company, valued at $52,197,771.36. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO T Christopher Uchida sold 500 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $159.77, for a total transaction of $79,885.00. Following the sale, the chief financial officer now owns 7,920 shares in the company, valued at $1,265,378.40. The trade was a 5.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,202 shares of company stock worth $3,265,129 over the last quarter. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PLMR. JPMorgan Chase & Co. upgraded shares of Palomar from a "neutral" rating to an "overweight" rating and upped their target price for the company from $115.00 to $150.00 in a research note on Tuesday, April 8th. Evercore ISI raised their target price on shares of Palomar from $163.00 to $168.00 and gave the stock an "in-line" rating in a report on Friday, May 30th. Keefe, Bruyette & Woods cut their target price on shares of Palomar from $155.00 to $145.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Truist Financial increased their price target on Palomar from $150.00 to $178.00 and gave the company a "buy" rating in a report on Tuesday, April 15th. Finally, Jefferies Financial Group raised their price target on Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $164.33.

Palomar Trading Up 0.9%

Shares of PLMR stock opened at $162.30 on Tuesday. Palomar Holdings, Inc. has a 12 month low of $77.28 and a 12 month high of $175.85. The stock has a market cap of $4.34 billion, a P/E ratio of 36.23 and a beta of 0.50. The company has a 50 day simple moving average of $156.70 and a two-hundred day simple moving average of $130.75.

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

Palomar Company 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.

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