Villere ST Denis J & Co. LLC Sells 28,135 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Villere ST Denis J & Co. LLC trimmed its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 6.7% during the fourth quarter, HoldingsChannel reports. The fund owned 389,933 shares of the company’s stock after selling 28,135 shares during the period. Palomar comprises about 3.7% of Villere ST Denis J & Co. LLC’s investment portfolio, making the stock its 4th largest position. Villere ST Denis J & Co. LLC’s holdings in Palomar were worth $41,173,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLMR. GAMMA Investing LLC increased its stake in Palomar by 48.6% in the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after buying an additional 125 shares during the last quarter. CWM LLC increased its stake in Palomar by 31.7% in the 3rd quarter. CWM LLC now owns 2,109 shares of the company’s stock valued at $200,000 after buying an additional 508 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in Palomar in the 3rd quarter valued at $731,000. Creative Planning increased its stake in Palomar by 23.2% in the 3rd quarter. Creative Planning now owns 3,240 shares of the company’s stock valued at $307,000 after buying an additional 610 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Palomar by 20.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 199,284 shares of the company’s stock valued at $18,866,000 after buying an additional 33,599 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Piper Sandler lifted their price objective on shares of Palomar from $133.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday. Truist Financial lifted their price objective on shares of Palomar from $112.00 to $150.00 and gave the company a “buy” rating in a research report on Friday. JMP Securities reissued a “market perform” rating on shares of Palomar in a research report on Thursday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Palomar currently has an average rating of “Moderate Buy” and a consensus target price of $124.67.

Palomar Stock Performance

Shares of PLMR stock opened at $126.92 on Friday. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 30.15 and a beta of 0.38. The company has a 50-day simple moving average of $107.29 and a 200 day simple moving average of $100.68. Palomar Holdings, Inc. has a 52 week low of $66.81 and a 52 week high of $128.38.

Palomar (NASDAQ:PLMR) last announced its earnings results on Wednesday, February 12th. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.24 by $0.13. Palomar had a net margin of 21.55% and a return on equity of 19.65%. Sell-side analysts forecast that Palomar Holdings, Inc. will post 4.33 EPS for the current year.

Insider Buying and Selling

In other Palomar news, CFO T Christopher Uchida sold 1,030 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $110.85, for a total value of $114,175.50. Following the completion of the sale, the chief financial officer now owns 15,994 shares of the company’s stock, valued at $1,772,934.90. The trade was a 6.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mac Armstrong sold 7,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $103.04, for a total transaction of $721,280.00. Following the completion of the sale, the chief executive officer now directly owns 419,388 shares of the company’s stock, valued at $43,213,739.52. This represents a 1.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,933 shares of company stock valued at $4,030,156. Company insiders own 4.30% of the company’s stock.

Palomar 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.