Kestra Private Wealth Services LLC Acquires Shares of 7,053 Palomar Holdings, Inc. (NASDAQ:PLMR)

Kestra Private Wealth Services LLC bought a new stake in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,053 shares of the company's stock, valued at approximately $967,000.

Other large investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its position in shares of Palomar by 185.3% in the first quarter. Nisa Investment Advisors LLC now owns 311 shares of the company's stock valued at $43,000 after acquiring an additional 202 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Palomar in the first quarter valued at $46,000. NBC Securities Inc. purchased a new stake in shares of Palomar in the first quarter valued at $53,000. USA Financial Formulas purchased a new stake in shares of Palomar in the first quarter valued at $55,000. Finally, SBI Securities Co. Ltd. lifted its position in shares of Palomar by 761.1% in the first quarter. SBI Securities Co. Ltd. now owns 620 shares of the company's stock valued at $85,000 after acquiring an additional 548 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.

Palomar Trading Up 0.6%

Shares of Palomar stock traded up $0.75 during trading hours on Friday, reaching $132.52. The stock had a trading volume of 322,896 shares, compared to its average volume of 324,686. The firm has a 50 day simple moving average of $153.65 and a two-hundred day simple moving average of $138.49. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 26.45 and a beta of 0.46. Palomar Holdings, Inc. has a 1 year low of $82.54 and a 1 year high of $175.85.

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

Insider Transactions at Palomar

In other news, CFO T Christopher Uchida sold 500 shares of the stock in a transaction dated Wednesday, June 18th. The stock was 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 owned 7,420 shares in the company, valued at approximately $1,177,479.80. This trade represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Timothy Carter sold 473 shares of the stock in a transaction dated Saturday, June 28th. The shares were sold at an average price of $153.65, for a total value of $72,676.45. Following the completion of the sale, the insider owned 361 shares of the company's stock, valued at approximately $55,467.65. This trade represents a 56.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,164 shares of company stock worth $3,061,089 in the last three months. 3.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Truist Financial upped their price objective on Palomar from $150.00 to $178.00 and gave the company a "buy" rating in a research report on Tuesday, April 15th. Piper Sandler increased their target price on Palomar from $171.00 to $177.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Jefferies Financial Group increased their target price on Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. JPMorgan Chase & Co. upgraded Palomar from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $115.00 to $150.00 in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods reduced their target price on Palomar from $205.00 to $204.00 and set an "outperform" rating on the stock in a research report on Monday, June 30th. Three 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, the company currently has an average rating of "Moderate Buy" and an average target price of $174.17.

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.