Hunter Associates Investment Management LLC Sells 2,232 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Hunter Associates Investment Management LLC lowered its stake in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 12.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,457 shares of the company's stock after selling 2,232 shares during the period. Hunter Associates Investment Management LLC owned approximately 0.06% of Palomar worth $2,120,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in PLMR. Smartleaf Asset Management LLC raised its stake in Palomar by 536.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 414 shares of the company's stock valued at $43,000 after purchasing an additional 349 shares during the period. Jones Financial Companies Lllp raised its stake in Palomar by 63.2% during the 4th quarter. Jones Financial Companies Lllp now owns 493 shares of the company's stock valued at $52,000 after purchasing an additional 191 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Palomar by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 240,176 shares of the company's stock valued at $25,360,000 after purchasing an additional 9,624 shares during the period. Arizona State Retirement System raised its stake in Palomar by 5.7% during the 4th quarter. Arizona State Retirement System now owns 7,585 shares of the company's stock valued at $801,000 after purchasing an additional 408 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Palomar during the 4th quarter valued at $3,064,000. 90.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wall Street Zen cut shares of Palomar from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Keefe, Bruyette & Woods lowered their price target on shares of Palomar from $205.00 to $204.00 and set an "outperform" rating on the stock in a report on Monday, June 30th. Truist Financial upped their price target on shares of Palomar from $150.00 to $178.00 and gave the company a "buy" rating in a report on Tuesday, April 15th. Jefferies Financial Group increased their target price on shares of Palomar from $145.00 to $168.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Finally, Evercore ISI raised 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 research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $174.17.

Insiders Place Their Bets

In related news, CEO Mac Armstrong sold 5,000 shares of the business's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $158.14, for a total value of $790,700.00. Following the sale, the chief executive officer directly owned 387,388 shares of the company's stock, valued at approximately $61,261,538.32. The trade was a 1.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO T Christopher Uchida sold 500 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $158.69, for a total transaction of $79,345.00. Following the completion of the sale, the chief financial officer directly owned 7,420 shares in the company, valued at $1,177,479.80. This represents a 6.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,175 shares of company stock valued at $3,276,251. Company insiders own 3.70% of the company's stock.

Palomar Trading Down 2.4%

Shares of Palomar stock traded down $3.34 during midday trading on Friday, reaching $135.26. The company had a trading volume of 140,612 shares, compared to its average volume of 219,007. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 27.00 and a beta of 0.46. The stock has a fifty day simple moving average of $157.71 and a 200 day simple moving average of $135.75. Palomar Holdings, Inc. has a 1-year low of $81.37 and a 1-year high of $175.85.

Palomar (NASDAQ:PLMR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.61 by $0.26. Palomar had a net margin of 21.99% and a return on equity of 20.56%. The company had revenue of $174.63 million during the quarter, compared to analysts' expectations of $161.97 million. During the same quarter in the previous year, the company earned $1.09 EPS. Sell-side analysts expect that Palomar Holdings, Inc. will post 5.99 earnings per share for the current 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.