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

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLMR. Farther Finance Advisors LLC boosted its holdings in Palomar by 21.8% in the fourth quarter. Farther Finance Advisors LLC now owns 554 shares of the company's stock valued at $58,000 after acquiring an additional 99 shares during the last quarter. Avantax Advisory Services Inc. lifted its position in Palomar by 2.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,837 shares of the company's stock valued at $616,000 after purchasing an additional 145 shares during the period. Covestor Ltd boosted its stake in shares of Palomar by 13.8% in the 4th quarter. Covestor Ltd now owns 1,224 shares of the company's stock valued at $129,000 after purchasing an additional 148 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Palomar by 8.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,371 shares of the company's stock valued at $325,000 after purchasing an additional 190 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of Palomar by 63.2% during the 4th quarter. Jones Financial Companies Lllp now owns 493 shares of the company's stock worth $52,000 after buying an additional 191 shares during the period. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Palomar Stock Performance

NASDAQ:PLMR traded down $5.46 on Tuesday, reaching $148.79. The company's stock had a trading volume of 329,143 shares, compared to its average volume of 213,374. Palomar Holdings, Inc. has a 1-year low of $79.82 and a 1-year high of $175.85. The firm has a market cap of $3.98 billion, a PE ratio of 29.70 and a beta of 0.50. The business's 50-day moving average price is $158.33 and its two-hundred day moving average price is $134.04.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $1.87 earnings per share (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 business had revenue of $174.63 million during the quarter, compared to analysts' expectations of $161.97 million. During the same period in the prior year, the business earned $1.09 EPS. As a group, sell-side analysts expect that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Insiders Place Their Bets

In other Palomar news, CFO T Christopher Uchida sold 500 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $158.69, for a total value of $79,345.00. Following the sale, the chief financial officer owned 7,420 shares in the company, valued at approximately $1,177,479.80. The trade was a 6.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mac Armstrong sold 5,000 shares of Palomar stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $158.14, for a total transaction of $790,700.00. Following the completion of the sale, the chief executive officer owned 387,388 shares in the company, valued at $61,261,538.32. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,702 shares of company stock worth $3,347,574. 3.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on PLMR. Wall Street Zen raised shares of Palomar from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Jefferies Financial Group increased their price target on Palomar from $145.00 to $168.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Piper Sandler lifted their price objective on Palomar from $171.00 to $177.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. upgraded Palomar from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $115.00 to $150.00 in a report on Tuesday, April 8th. Finally, Truist Financial raised 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. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $174.17.

Palomar Company Profile

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.