Universal Beteiligungs und Servicegesellschaft mbH Acquires 15,654 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Palomar Holdings, Inc. by 29.2%, acquiring an additional 15,654 shares to reach a total of 69,178 shares.
• Analysts have varying ratings for Palomar, with reports showing a transition from a "buy" to a "hold" rating by Wall Street Zen, while others have set target prices ranging from $150.00 to $178.00.
• Insider transactions included CEO Mac Armstrong selling 5,000 shares for approximately $700,500, while CFO T Christopher Uchida sold 500 shares for around $71,550, indicating varying levels of stock ownership among executives.

Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 29.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 69,178 shares of the company's stock after acquiring an additional 15,654 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.26% of Palomar worth $9,483,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its stake 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 acquiring an additional 202 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in Palomar in the first quarter valued at approximately $46,000. NBC Securities Inc. bought a new position in Palomar in the first quarter valued at approximately $53,000. USA Financial Formulas bought a new position in Palomar in the first quarter valued at approximately $55,000. Finally, SBI Securities Co. Ltd. boosted its stake in Palomar by 761.1% in the first quarter. SBI Securities Co. Ltd. now owns 620 shares of the company's stock valued at $85,000 after acquiring an additional 548 shares during the last quarter. 90.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PLMR. Wall Street Zen cut shares of Palomar from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Truist Financial increased their target price on shares of Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a report on Tuesday, April 15th. Piper Sandler increased their target price on shares of Palomar from $171.00 to $177.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. JPMorgan Chase & Co. upgraded shares of Palomar from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $115.00 to $150.00 in a report on Tuesday, April 8th. Finally, Jefferies Financial Group increased their target price on shares of Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Three 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 a consensus rating of "Moderate Buy" and a consensus target price of $174.17.

Insider Buying and Selling

In related news, CEO Mac Armstrong sold 5,000 shares of the firm's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $140.10, for a total transaction of $700,500.00. Following the sale, the chief executive officer directly owned 382,388 shares in the company, valued at $53,572,558.80. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO T Christopher Uchida sold 500 shares of the firm's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $143.10, for a total transaction of $71,550.00. Following the sale, the chief financial officer owned 6,920 shares in the company, valued at approximately $990,252. The trade was a 6.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,164 shares of company stock worth $3,061,089 over the last ninety days. Company insiders own 3.70% of the company's stock.

Palomar Stock Up 0.6%

Shares of NASDAQ:PLMR opened at $132.52 on Friday. Palomar Holdings, Inc. has a 12 month low of $82.54 and a 12 month high of $175.85. The company's fifty day simple moving average is $153.65 and its 200 day simple moving average is $138.27. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 26.45 and a beta of 0.46.

Palomar (NASDAQ:PLMR - Get Free Report) last issued its quarterly earnings data 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 net margin of 21.99% and a return on equity of 20.56%. The business had revenue of $174.63 million for the quarter, compared to analyst estimates of $161.97 million. During the same period last year, the business posted $1.09 earnings per share. Research analysts expect that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

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.

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