Villere ST Denis J & Co. LLC Sells 113,798 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Villere ST Denis J & Co. LLC decreased its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 29.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 276,135 shares of the company's stock after selling 113,798 shares during the period. Palomar comprises about 3.7% of Villere ST Denis J & Co. LLC's investment portfolio, making the stock its 5th biggest holding. Villere ST Denis J & Co. LLC owned 1.03% of Palomar worth $37,853,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Blue Trust Inc. purchased a new position in shares of Palomar in the 4th quarter worth $26,000. Smartleaf Asset Management LLC lifted its position in shares of Palomar by 536.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 414 shares of the company's stock worth $43,000 after buying an additional 349 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Palomar in the first quarter worth about $46,000. Jones Financial Companies Lllp raised its position in Palomar by 63.2% during the fourth 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. Finally, NBC Securities Inc. purchased a new stake in Palomar during the first quarter valued at approximately $53,000. Institutional investors own 90.25% of the company's stock.

Insider Buying and Selling at Palomar

In related news, CFO T Christopher Uchida sold 1,000 shares of Palomar stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $144.00, for a total value of $144,000.00. Following the completion of the transaction, the chief financial officer now owns 9,172 shares in the company, valued at $1,320,768. The trade was a 9.83% 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, CEO Mac Armstrong sold 5,000 shares of Palomar stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $145.41, for a total value of $727,050.00. Following the completion of the transaction, the chief executive officer now owns 397,388 shares of the company's stock, valued at approximately $57,784,189.08. This represents a 1.24% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,702 shares of company stock worth $3,486,574. Insiders own 3.70% of the company's stock.

Analyst Upgrades and Downgrades

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

Palomar Price Performance

NASDAQ PLMR traded down $0.29 during midday trading on Friday, hitting $153.38. 434,574 shares of the company traded hands, compared to its average volume of 213,209. The company has a market cap of $4.10 billion, a PE ratio of 30.61 and a beta of 0.50. The company's 50-day simple moving average is $158.13 and its 200-day simple moving average is $133.39. Palomar Holdings, Inc. has a 52 week low of $79.82 and a 52 week 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 analysts' consensus estimates of $1.61 by $0.26. Palomar had a return on equity of 20.56% and a net margin of 21.99%. 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 firm posted $1.09 EPS. On average, research analysts predict 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.