Conestoga Capital Advisors LLC Sells 3,125 Shares of Palomar Holdings, Inc. $PLMR

Conestoga Capital Advisors LLC reduced its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 22.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,780 shares of the company’s stock after selling 3,125 shares during the period. Conestoga Capital Advisors LLC’s holdings in Palomar were worth $1,663,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. boosted its stake in shares of Palomar by 5.6% during the first quarter. American Century Companies Inc. now owns 829,124 shares of the company’s stock valued at $113,656,000 after purchasing an additional 43,705 shares during the period. Westfield Capital Management Co. LP boosted its stake in shares of Palomar by 4.2% during the first quarter. Westfield Capital Management Co. LP now owns 618,598 shares of the company’s stock valued at $84,797,000 after purchasing an additional 25,138 shares during the period. Driehaus Capital Management LLC boosted its stake in shares of Palomar by 3.1% during the first quarter. Driehaus Capital Management LLC now owns 559,156 shares of the company’s stock valued at $76,649,000 after purchasing an additional 17,014 shares during the period. Artemis Investment Management LLP boosted its stake in shares of Palomar by 17.0% during the first quarter. Artemis Investment Management LLP now owns 532,554 shares of the company’s stock valued at $73,003,000 after purchasing an additional 77,472 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Palomar by 4.3% during the first quarter. Northern Trust Corp now owns 290,283 shares of the company’s stock valued at $39,792,000 after purchasing an additional 12,043 shares during the period. 90.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Palomar

In other news, Director Richard H. Taketa purchased 500 shares of the business’s stock in a transaction on Monday, August 18th. The stock was acquired at an average cost of $121.14 per share, for a total transaction of $60,570.00. Following the purchase, the director directly owned 44,226 shares in the company, valued at $5,357,537.64. This trade represents a 1.14% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Jon Christianson sold 521 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $120.13, for a total value of $62,587.73. Following the sale, the president owned 59,036 shares of the company’s stock, valued at approximately $7,091,994.68. This represents a 0.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,432 shares of company stock worth $1,984,604. 3.70% of the stock is owned by corporate insiders.

Palomar Stock Performance

NASDAQ PLMR opened at $114.47 on Monday. Palomar Holdings, Inc. has a one year low of $85.00 and a one year high of $175.85. The stock has a 50-day moving average of $119.10 and a 200 day moving average of $138.51. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 20.12 and a beta of 0.30.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data on Friday, December 16th. The company reported $0.07 EPS for the quarter. The company had revenue of $65.74 million during the quarter. Palomar had a return on equity of 20.35% and a net margin of 22.71%. On average, equities analysts predict that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PLMR shares. Piper Sandler dropped their price objective on Palomar from $177.00 to $151.00 and set an “overweight” rating for the company in a research note on Wednesday, August 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Palomar in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods dropped their price target on Palomar from $204.00 to $172.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Wall Street Zen lowered Palomar from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Finally, Evercore ISI dropped their price target on Palomar from $168.00 to $134.00 and set an “in-line” rating for the company in a research note on Wednesday, October 1st. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Palomar currently has an average rating of “Moderate Buy” and a consensus price target of $156.67.

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.