FJ Capital Management LLC Sells 6,277 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

FJ Capital Management LLC reduced its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 22.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,506 shares of the company's stock after selling 6,277 shares during the quarter. FJ Capital Management LLC owned 0.08% of Palomar worth $2,271,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PLMR. Blue Trust Inc. bought a new stake in shares of Palomar during the 4th quarter valued at about $26,000. Smartleaf Asset Management LLC lifted its position in shares of Palomar by 536.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 414 shares of the company's stock valued at $43,000 after buying an additional 349 shares in the last quarter. Jones Financial Companies Lllp lifted 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 valued at $52,000 after buying an additional 191 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Palomar by 21.8% during the 4th quarter. Farther Finance Advisors LLC now owns 554 shares of the company's stock valued at $58,000 after buying an additional 99 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Palomar by 44.9% during the 4th quarter. KBC Group NV now owns 1,045 shares of the company's stock valued at $110,000 after buying an additional 324 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PLMR shares. Keefe, Bruyette & Woods lowered their price objective on Palomar from $155.00 to $145.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. JMP Securities reaffirmed a "market perform" rating on shares of Palomar in a research report on Thursday, February 13th. Piper Sandler lifted their price objective on Palomar from $133.00 to $150.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Jefferies Financial Group lifted their price objective on Palomar from $145.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. raised Palomar from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $115.00 to $150.00 in a research report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Palomar has a consensus rating of "Moderate Buy" and a consensus target price of $148.33.

Insider Buying and Selling

In other news, CEO Mac Armstrong sold 5,000 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $145.41, for a total transaction of $727,050.00. Following the sale, the chief executive officer now directly owns 397,388 shares of the company's stock, valued at $57,784,189.08. This represents a 1.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO T Christopher Uchida sold 500 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $153.04, for a total value of $76,520.00. Following the sale, the chief financial officer now directly owns 7,672 shares in the company, valued at $1,174,122.88. This trade represents a 6.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,254 shares of company stock valued at $2,443,484. Corporate insiders own 3.70% of the company's stock.

Palomar Stock Down 0.0%

NASDAQ PLMR traded down $0.08 during trading hours on Friday, reaching $159.93. The company's stock had a trading volume of 223,620 shares, compared to its average volume of 196,288. The firm's 50-day moving average price is $141.00 and its 200-day moving average price is $119.44. Palomar Holdings, Inc. has a 1 year low of $77.28 and a 1 year high of $163.78. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of 35.70 and a beta of 0.51.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly earnings results 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 return on equity of 19.76% and a net margin of 21.23%. The company had revenue of $174.63 million for the quarter, compared to analysts' expectations of $161.97 million. During the same period in the previous year, the firm earned $1.09 EPS. Equities research analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS 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.