Cookson Peirce & Co. Inc. Increases Position in Palomar Holdings, Inc. $PLMR

Cookson Peirce & Co. Inc. lifted its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 8.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,351 shares of the company’s stock after purchasing an additional 624 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Palomar were worth $1,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Palomar in the first quarter worth $276,000. Principal Financial Group Inc. increased its stake in shares of Palomar by 2.5% in the first quarter. Principal Financial Group Inc. now owns 151,237 shares of the company’s stock worth $20,732,000 after purchasing an additional 3,697 shares in the last quarter. Informed Momentum Co LLC purchased a new stake in shares of Palomar in the first quarter worth $4,894,000. HighTower Advisors LLC increased its stake in shares of 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 purchasing an additional 8,038 shares in the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. bought a new position in shares of Palomar during the first quarter worth $6,943,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PLMR has been the subject of a number of research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Palomar in a research report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their target price on shares of Palomar from $158.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, October 9th. Wall Street Zen lowered shares of Palomar from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Piper Sandler dropped their target price on shares of Palomar from $177.00 to $151.00 and set an “overweight” rating for the company in a research report on Wednesday, August 6th. Finally, Evercore ISI dropped their target price on shares of Palomar from $168.00 to $134.00 and set an “in-line” rating for the company in a research report 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 has an average rating of “Moderate Buy” and an average target price of $156.67.

Palomar Stock Down 2.0%

PLMR stock opened at $113.08 on Thursday. Palomar Holdings, Inc. has a 52 week low of $85.00 and a 52 week high of $175.85. The company has a fifty day simple moving average of $118.62 and a two-hundred day simple moving average of $138.05. The firm has a market capitalization of $3.03 billion, a P/E ratio of 19.87 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. Palomar had a net margin of 22.71% and a return on equity of 20.35%. The business had revenue of $65.74 million during the quarter. As a group, analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Insider Buying and Selling at Palomar

In other Palomar news, CEO Mac Armstrong sold 5,000 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $116.02, for a total transaction of $580,100.00. Following the completion of the transaction, the chief executive officer owned 372,388 shares in the company, valued at $43,204,455.76. This trade represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Rodolphe Herve sold 1,130 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $130.10, for a total transaction of $147,013.00. Following the transaction, the chief operating officer owned 807 shares of the company’s stock, valued at $104,990.70. This trade represents a 58.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,432 shares of company stock valued at $2,561,154 over the last ninety days. Corporate insiders own 3.70% of the company’s stock.

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.