Nuveen Asset Management LLC Purchases 2,171 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Nuveen Asset Management LLC increased its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 173,135 shares of the company's stock after buying an additional 2,171 shares during the quarter. Nuveen Asset Management LLC owned 0.65% of Palomar worth $18,281,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PLMR. Vanguard Group Inc. increased its holdings in Palomar by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 2,574,923 shares of the company's stock worth $271,886,000 after purchasing an additional 53,123 shares in the last quarter. American Century Companies Inc. increased its holdings in Palomar by 36.6% in the 4th 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 in the last quarter. Geode Capital Management LLC increased its holdings in Palomar by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 618,840 shares of the company's stock worth $65,358,000 after purchasing an additional 18,748 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Palomar by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 561,740 shares of the company's stock worth $59,313,000 after purchasing an additional 17,320 shares in 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 purchasing an additional 122,057 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports 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 report on Friday, April 11th. JPMorgan Chase & Co. raised Palomar from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $115.00 to $150.00 in a report on Tuesday, April 8th. Truist Financial upped their target price on Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a report on Tuesday, April 15th. JMP Securities reissued a "market perform" rating on shares of Palomar in a research note on Thursday, February 13th. Finally, Piper Sandler increased their price target on Palomar from $133.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Palomar currently has an average rating of "Moderate Buy" and a consensus price target of $148.33.

Palomar Price Performance

Shares of Palomar stock traded up $1.22 on Thursday, hitting $163.67. 16,554 shares of the company's stock traded hands, compared to its average volume of 200,012. Palomar Holdings, Inc. has a one year low of $77.28 and a one year high of $165.00. The company has a fifty day moving average of $148.90 and a two-hundred day moving average of $125.10. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 36.46 and a beta of 0.51.

Palomar (NASDAQ:PLMR - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.61 by $0.26. Palomar had a return on equity of 19.76% and a net margin of 21.23%. The company had revenue of $174.63 million for the quarter, compared to analyst estimates of $161.97 million. During the same quarter in the prior year, the company earned $1.09 EPS. Equities research analysts anticipate that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Insider Activity at Palomar

In related news, CEO Mac Armstrong sold 5,000 shares of the company's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $129.72, for a total transaction of $648,600.00. Following the sale, the chief executive officer now owns 402,388 shares in the company, valued at $52,197,771.36. This represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO T Christopher Uchida sold 1,000 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the transaction, the chief financial officer now owns 10,172 shares in the company, valued at approximately $1,413,908. The trade was a 8.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,202 shares of company stock worth $3,265,129 in the last 90 days. 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.