Nuveen LLC Acquires New Position in Palomar Holdings, Inc. $PLMR

Nuveen LLC bought a new stake in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 190,286 shares of the company's stock, valued at approximately $26,084,000. Nuveen LLC owned about 0.71% of Palomar at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. KBC Group NV grew its holdings in Palomar by 9.1% during the 1st quarter. KBC Group NV now owns 1,140 shares of the company's stock worth $156,000 after acquiring an additional 95 shares during the period. Hohimer Wealth Management LLC grew its holdings in Palomar by 3.9% during the 1st quarter. Hohimer Wealth Management LLC now owns 2,617 shares of the company's stock worth $359,000 after acquiring an additional 99 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Palomar by 8.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,371 shares of the company's stock worth $325,000 after acquiring an additional 190 shares during the period. LPL Financial LLC grew its holdings in Palomar by 6.7% during the 4th quarter. LPL Financial LLC now owns 3,082 shares of the company's stock worth $325,000 after acquiring an additional 194 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in Palomar by 185.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 311 shares of the company's stock worth $43,000 after acquiring an additional 202 shares during the period. Institutional investors own 90.25% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Evercore ISI boosted their price target on shares of Palomar from $163.00 to $168.00 and gave the company an "in-line" rating in a report on Friday, May 30th. Keefe, Bruyette & Woods reduced their target price on shares of Palomar from $204.00 to $172.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. JPMorgan Chase & Co. reduced their target price on shares of Palomar from $170.00 to $158.00 and set an "overweight" rating for the company in a research note on Monday, August 11th. Wall Street Zen lowered shares of Palomar from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, Piper Sandler reduced their target price on shares of Palomar from $177.00 to $151.00 and set an "overweight" rating for the company in a research note on Wednesday, August 6th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $165.83.

Palomar Trading Up 1.5%

Shares of NASDAQ:PLMR traded up $1.8650 on Thursday, reaching $126.9350. 219,992 shares of the company's stock were exchanged, compared to its average volume of 294,580. The company has a fifty day moving average of $139.01 and a 200-day moving average of $140.42. Palomar Holdings, Inc. has a twelve month low of $85.00 and a twelve month high of $175.85. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 22.34 and a beta of 0.44.

Palomar (NASDAQ:PLMR - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.68 by $0.08. Palomar had a net margin of 22.71% and a return on equity of 20.35%. The firm had revenue of $496.29 million for the quarter, compared to analyst estimates of $173.86 million. During the same quarter in the prior year, the business posted $1.25 EPS. The business's revenue was up 47.6% compared to the same quarter last year. As a group, equities research analysts forecast that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Insider Activity

In other Palomar news, CFO T Christopher Uchida sold 782 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $120.13, for a total transaction of $93,941.66. Following the transaction, the chief financial officer owned 7,668 shares in the company, valued at $921,156.84. This represents a 9.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard H. Taketa acquired 500 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average cost of $121.14 per share, for a total transaction of $60,570.00. Following the completion of the purchase, the director directly owned 44,226 shares of the company's stock, valued at $5,357,537.64. The trade was a 1.14% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 17,878 shares of company stock worth $2,569,497. 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.