Champlain Investment Partners LLC Lowers Stock Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Champlain Investment Partners LLC cut its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR) by 31.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 821,520 shares of the company’s stock after selling 369,290 shares during the quarter. Champlain Investment Partners LLC’s holdings in Palomar were worth $86,744,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PLMR. FMR LLC increased its holdings in Palomar by 39.5% in the 3rd quarter. FMR LLC now owns 2,123 shares of the company’s stock worth $201,000 after acquiring an additional 601 shares in the last quarter. Stifel Financial Corp raised its position in shares of Palomar by 78.6% during the 3rd quarter. Stifel Financial Corp now owns 15,734 shares of the company’s stock worth $1,490,000 after purchasing an additional 6,926 shares during the last quarter. Barclays PLC lifted its stake in Palomar by 112.6% in the 3rd quarter. Barclays PLC now owns 71,803 shares of the company’s stock valued at $6,798,000 after buying an additional 38,027 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Palomar by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock worth $56,822,000 after buying an additional 18,335 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Palomar by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 128,165 shares of the company’s stock worth $12,133,000 after buying an additional 11,140 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Palomar Stock Down 2.5 %

NASDAQ:PLMR opened at $150.44 on Thursday. Palomar Holdings, Inc. has a 52 week low of $75.49 and a 52 week high of $155.87. The stock’s fifty day moving average is $130.96 and its two-hundred day moving average is $112.67. The company has a market capitalization of $4.01 billion, a P/E ratio of 33.58 and a beta of 0.46.

Palomar (NASDAQ:PLMR) last announced its earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.13. Palomar had a return on equity of 19.76% and a net margin of 21.23%. Sell-side analysts anticipate that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PLMR has been the topic of several research reports. Keefe, Bruyette & Woods decreased their target price 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 report on Thursday, February 13th. Piper Sandler raised 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. JPMorgan Chase & Co. upgraded shares of Palomar from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $115.00 to $150.00 in a report on Tuesday, April 8th. Finally, Truist Financial upped their price target on Palomar from $150.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $148.33.

Insider Buying and Selling

In other news, CFO T Christopher Uchida sold 1,000 shares of the company’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $150.24, for a total transaction of $150,240.00. Following the sale, the chief financial officer now owns 8,172 shares of the company’s stock, valued at approximately $1,227,761.28. This represents a 10.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mac Armstrong sold 7,000 shares of Palomar stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $109.76, for a total value of $768,320.00. Following the completion of the transaction, the chief executive officer now owns 412,388 shares of the company’s stock, valued at approximately $45,263,706.88. This trade represents a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,943 shares of company stock valued at $3,221,024. Corporate insiders own 4.30% of the company’s stock.

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.