Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Sold by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC decreased its position in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 673,519 shares of the company's stock after selling 6,115 shares during the quarter. Palomar comprises 1.3% of Stephens Investment Management Group LLC's investment portfolio, making the stock its 20th largest holding. Stephens Investment Management Group LLC owned 2.52% of Palomar worth $92,326,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. American Century Companies Inc. lifted its stake in shares of Palomar by 36.6% during the 4th quarter. American Century Companies Inc. now owns 785,419 shares of the company's stock worth $82,932,000 after buying an additional 210,523 shares during the last quarter. Norges Bank bought a new position in Palomar during the fourth quarter valued at about $20,637,000. Price T Rowe Associates Inc. MD boosted 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 valued at $45,622,000 after purchasing an additional 122,057 shares during the period. Freestone Grove Partners LP purchased a new position in shares of Palomar during the fourth quarter worth approximately $11,774,000. Finally, GAMMA Investing LLC increased its position in shares of Palomar by 27,543.8% during the first quarter. GAMMA Investing LLC now owns 99,794 shares of the company's stock valued at $13,680,000 after buying an additional 99,433 shares during the period. 90.25% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO T Christopher Uchida sold 500 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $159.77, for a total value of $79,885.00. Following the transaction, the chief financial officer owned 7,920 shares of the company's stock, valued at approximately $1,265,378.40. The trade was a 5.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mac Armstrong sold 5,000 shares of the company's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $145.41, for a total value of $727,050.00. Following the transaction, the chief executive officer directly owned 397,388 shares in the company, valued at $57,784,189.08. This represents a 1.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,175 shares of company stock worth $3,126,011 in the last quarter. Corporate insiders own 3.70% of the company's stock.

Palomar Stock Performance

Shares of Palomar stock traded up $6.16 during trading on Monday, hitting $141.17. The company's stock had a trading volume of 486,131 shares, compared to its average volume of 221,200. The company has a market capitalization of $3.77 billion, a PE ratio of 28.18 and a beta of 0.46. Palomar Holdings, Inc. has a 52 week low of $82.55 and a 52 week high of $175.85. The company has a fifty day simple moving average of $157.37 and a two-hundred day simple moving average of $136.39.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.61 by $0.26. Palomar had a net margin of 21.99% and a return on equity of 20.56%. The company had revenue of $174.63 million during the quarter, compared to analyst estimates of $161.97 million. During the same period in the previous year, the firm earned $1.09 earnings per share. As a group, analysts predict that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PLMR. Keefe, Bruyette & Woods decreased their price target on shares of Palomar from $205.00 to $204.00 and set an "outperform" rating on the stock in a research note on Monday, June 30th. Evercore ISI increased their price objective on shares of Palomar from $163.00 to $168.00 and gave the company an "in-line" rating in a research report on Friday, May 30th. Piper Sandler boosted their price objective on shares of Palomar from $171.00 to $177.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Wall Street Zen cut Palomar from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Jefferies Financial Group boosted their price objective on shares of Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $174.17.

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.