NBW Capital LLC Has $9.64 Million Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

NBW Capital LLC reduced its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,337 shares of the company’s stock after selling 3,223 shares during the quarter. Palomar accounts for 1.8% of NBW Capital LLC’s portfolio, making the stock its 17th largest position. NBW Capital LLC’s holdings in Palomar were worth $9,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. bought a new stake in shares of Palomar during the fourth quarter worth $26,000. Smartleaf Asset Management LLC grew its holdings in shares of Palomar by 536.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 414 shares of the company’s stock worth $43,000 after purchasing an additional 349 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Palomar by 490.9% during the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $43,000 after purchasing an additional 378 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Palomar by 63.2% during the fourth quarter. Jones Financial Companies Lllp now owns 493 shares of the company’s stock worth $52,000 after purchasing an additional 191 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of Palomar by 44.9% during the fourth quarter. KBC Group NV now owns 1,045 shares of the company’s stock worth $110,000 after purchasing an additional 324 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Truist Financial raised their price target on Palomar from $112.00 to $150.00 and gave the company a “buy” rating in a report on Friday, February 14th. Keefe, Bruyette & Woods raised their target price on shares of Palomar from $136.00 to $152.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. lifted their price target on shares of Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Piper Sandler boosted their price target on shares of Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, JMP Securities reissued a “market perform” rating on shares of Palomar in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.33.

Insider Buying and Selling at Palomar

In other news, CEO Mac Armstrong sold 2,791 shares of the company’s stock in a transaction that occurred on Sunday, January 26th. The shares were sold at an average price of $101.69, for a total value of $283,816.79. Following the completion of the transaction, the chief executive officer now owns 62,639 shares in the company, valued at $6,369,759.91. This represents a 4.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO T Christopher Uchida sold 1,030 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $110.85, for a total transaction of $114,175.50. Following the completion of the transaction, the chief financial officer now owns 15,994 shares of the company’s stock, valued at $1,772,934.90. This trade represents a 6.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,485 shares of company stock valued at $4,098,195. Corporate insiders own 4.30% of the company’s stock.

Palomar Price Performance

PLMR opened at $128.20 on Tuesday. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 28.62 and a beta of 0.38. The firm has a 50 day simple moving average of $111.25 and a 200 day simple moving average of $103.61. Palomar Holdings, Inc. has a fifty-two week low of $71.54 and a fifty-two week high of $130.60.

Palomar (NASDAQ:PLMR) last issued its earnings results on Wednesday, February 12th. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. As a group, analysts expect that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

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.