Palomar Holdings, Inc. $PLMR Stock Holdings Trimmed by Amundi

Key Points

• Amundi has reduced its holdings in Palomar Holdings, Inc. by 13.1%, owning approximately 34,193 shares valued at $4,893,000 after selling 5,151 shares in the first quarter.
• Palomar's stock has seen mixed ratings; while Evercore ISI raised its target price to $168.00, JPMorgan and Piper Sandler lowered theirs to $158.00 and $151.00, respectively.
• Insiders have sold 22,878 shares totaling over $3.2 million in the past 90 days, while 90.25% of the stock is now owned by institutional investors.

Amundi reduced its position in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 13.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,193 shares of the company's stock after selling 5,151 shares during the quarter. Amundi owned approximately 0.13% of Palomar worth $4,893,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. KBC Group NV increased its holdings in Palomar by 9.1% in the first quarter. KBC Group NV now owns 1,140 shares of the company's stock valued at $156,000 after buying an additional 95 shares during the last quarter. Hohimer Wealth Management LLC increased its holdings in Palomar by 3.9% in the first quarter. Hohimer Wealth Management LLC now owns 2,617 shares of the company's stock valued at $359,000 after buying an additional 99 shares during the last quarter. Evergreen Capital Management LLC increased its holdings in Palomar by 5.8% in the first quarter. Evergreen Capital Management LLC now owns 2,225 shares of the company's stock valued at $305,000 after buying an additional 122 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Palomar by 8.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,371 shares of the company's stock valued at $325,000 after buying an additional 190 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in 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 buying an additional 202 shares during the last quarter. 90.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PLMR has been the subject of a number of research reports. Evercore ISI lifted their target price on Palomar from $163.00 to $168.00 and gave the company an "in-line" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. decreased their target price on Palomar from $170.00 to $158.00 and set an "overweight" rating for the company in a research note on Monday, August 11th. Piper Sandler decreased their target price on Palomar from $177.00 to $151.00 and set an "overweight" rating for the company in a research note on Wednesday, August 6th. Wall Street Zen downgraded Palomar from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, Keefe, Bruyette & Woods decreased their target price on Palomar from $204.00 to $172.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $165.83.

Insider Activity at Palomar

In other news, insider Jonathan Knutzen sold 281 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $120.13, for a total transaction of $33,756.53. Following the transaction, the insider directly owned 21,210 shares in the company, valued at $2,547,957.30. The trade was a 1.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Jon Christianson sold 521 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $120.13, for a total transaction of $62,587.73. Following the transaction, the president owned 59,036 shares in the company, valued at approximately $7,091,994.68. This represents a 0.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,878 shares of company stock worth $3,202,297. Insiders own 3.70% of the company's stock.

Palomar Price Performance

PLMR opened at $118.70 on Thursday. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of 20.86 and a beta of 0.34. Palomar Holdings, Inc. has a 1-year low of $85.00 and a 1-year high of $175.85. The business has a 50 day moving average price of $129.29 and a two-hundred day moving average price of $141.18.

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

Palomar 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.

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