Ensign Peak Advisors Inc Invests $6.17 Million in Palomar Holdings, Inc. $PLMR

Ensign Peak Advisors Inc invested $6.17 million in Palomar Holdings, Inc. during the 2nd quarter, acquiring 39,992 shares. Other institutional investors also adjusted their stakes in Palomar. The stock opened at $123.42, with a market cap of $3.27 billion. Analysts have given Palomar a consensus rating of "Moderate Buy" with an average target price of $157.67. Recent insider sales include CFO T Christopher Uchida and President Jon Christianson, reducing their positions slightly.

Ensign Peak Advisors Inc bought a new stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 39,992 shares of the company's stock, valued at approximately $6,169,000. Ensign Peak Advisors Inc owned 0.15% of Palomar as of its most recent filing with the Securities and Exchange Commission (SEC).

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A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLMR. Informed Momentum Co LLC bought a new position in Palomar in the 1st quarter worth $4,894,000. HighTower Advisors LLC raised its stake in Palomar by 252.8% in the first quarter. HighTower Advisors LLC now owns 11,217 shares of the company's stock worth $1,538,000 after buying an additional 8,038 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. purchased a new stake in Palomar in the first quarter worth about $6,943,000. Dynamic Technology Lab Private Ltd bought a new stake in Palomar during the 1st quarter valued at approximately $314,000. Finally, Axiom Investors LLC DE purchased a new position in shares of Palomar during the 1st quarter worth approximately $3,251,000. Hedge funds and other institutional investors own 90.25% of the company's stock.

Palomar Stock Performance

Shares of PLMR stock opened at $123.42 on Tuesday. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of 21.69 and a beta of 0.25. Palomar Holdings, Inc. has a one year low of $98.42 and a one year high of $175.85. The company's 50-day moving average is $118.26 and its 200 day moving average is $133.60.

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Palomar (NASDAQ:PLMR - Get Free Report) last issued its earnings results on Friday, December 16th. The company reported $0.07 earnings per share (EPS) for the quarter. Palomar had a net margin of 22.71% and a return on equity of 20.35%. The firm had revenue of $65.74 million for the quarter. As a group, research analysts predict that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

PLMR has been the subject of a number of research analyst reports. Wall Street Zen upgraded Palomar from a "hold" rating to a "buy" rating in a research note on Saturday, November 15th. Evercore ISI lowered their price objective on Palomar from $168.00 to $134.00 and set an "in-line" rating for the company in a research report on Wednesday, October 1st. JPMorgan Chase & Co. upped their target price on shares of Palomar from $137.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, November 10th. Piper Sandler decreased their price target on shares of Palomar from $177.00 to $151.00 and set an "overweight" rating for the company in a research note on Wednesday, August 6th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Palomar from $164.00 to $170.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 11th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $157.67.

Read Our Latest Stock Report on Palomar

Insiders Place Their Bets

In other Palomar news, CFO T Christopher Uchida sold 782 shares of Palomar stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $128.84, for a total value of $100,752.88. Following the completion of the sale, the chief financial officer owned 7,916 shares of the company's stock, valued at approximately $1,019,897.44. This trade represents a 8.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Jon Christianson sold 522 shares of the business's stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $128.84, for a total value of $67,254.48. Following the completion of the transaction, the president owned 59,631 shares of the company's stock, valued at $7,682,858.04. This represents a 0.87% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 19,803 shares of company stock valued at $2,348,771. 3.70% of the stock is currently owned by company insiders.

Palomar Profile

(Free Report)

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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