Townsquare Capital LLC Purchases Shares of 2,555 Palomar Holdings, Inc. $PLMR

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Townsquare Capital LLC acquired a new stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,555 shares of the company's stock, valued at approximately $350,000.

Several other large investors also recently added to or reduced their stakes in PLMR. KBC Group NV lifted its holdings in shares of 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 last quarter. Hohimer Wealth Management LLC lifted its stake in Palomar by 3.9% during the first quarter. Hohimer Wealth Management LLC now owns 2,617 shares of the company's stock worth $359,000 after purchasing an additional 99 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Palomar by 8.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,371 shares of the company's stock worth $325,000 after purchasing an additional 190 shares during the last quarter. LPL Financial LLC lifted its stake in Palomar by 6.7% during the fourth quarter. LPL Financial LLC now owns 3,082 shares of the company's stock worth $325,000 after purchasing an additional 194 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Palomar by 185.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 311 shares of the company's stock worth $43,000 after buying an additional 202 shares during the last quarter. Institutional investors own 90.25% of the company's stock.

Palomar Stock Up 0.2%

NASDAQ:PLMR opened at $120.53 on Tuesday. The company has a fifty day moving average of $140.39 and a 200 day moving average of $140.66. Palomar Holdings, Inc. has a 52 week low of $85.00 and a 52 week high of $175.85. The firm has a market capitalization of $3.23 billion, a P/E ratio of 21.18 and a beta of 0.44.

Palomar (NASDAQ:PLMR - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $1.76 EPS for the quarter, beating the consensus estimate 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 net margin of 22.71% and a return on equity of 20.35%. The company's quarterly revenue 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. As a group, analysts anticipate 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 company'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 transaction of $79,345.00. Following the completion of the transaction, the chief financial officer owned 7,420 shares of the company's stock, valued at $1,177,479.80. This represents a 6.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Timothy Carter sold 473 shares of the company's stock in a transaction that occurred on Saturday, June 28th. The shares were sold at an average price of $153.65, for a total value of $72,676.45. Following the transaction, the insider owned 361 shares of the company's stock, valued at approximately $55,467.65. This represents a 56.71% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,294 shares of company stock worth $3,208,102. 3.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PLMR. Piper Sandler dropped their target price on Palomar from $177.00 to $151.00 and set an "overweight" rating for the company in a research report on Wednesday, August 6th. Keefe, Bruyette & Woods lowered their price objective on shares of Palomar from $204.00 to $172.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Evercore ISI boosted their price target on shares of Palomar from $163.00 to $168.00 and gave the stock an "in-line" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. lowered their price target 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. Finally, Wall Street Zen downgraded shares of Palomar from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Palomar presently has a consensus rating of "Moderate Buy" and a consensus price target of $165.83.

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.

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