Crestwood Advisors Group LLC Sells 932 Shares of Palomar Holdings, Inc. $PLMR

Crestwood Advisors Group LLC trimmed its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 5.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,388 shares of the company’s stock after selling 932 shares during the quarter. Crestwood Advisors Group LLC owned approximately 0.06% of Palomar worth $2,528,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Palomar by 3.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,461 shares of the company’s stock valued at $363,000 after purchasing an additional 90 shares during the period. Bank of Montreal Can raised its holdings in Palomar by 1.7% in the 2nd quarter. Bank of Montreal Can now owns 5,766 shares of the company’s stock valued at $889,000 after acquiring an additional 98 shares during the period. Hohimer Wealth Management LLC raised its holdings in Palomar by 3.9% in the 1st quarter. Hohimer Wealth Management LLC now owns 2,617 shares of the company’s stock valued at $359,000 after acquiring an additional 99 shares during the period. GAMMA Investing LLC raised its holdings in Palomar by 14.4% in the 2nd quarter. GAMMA Investing LLC now owns 833 shares of the company’s stock valued at $128,000 after acquiring an additional 105 shares during the period. Finally, Maryland State Retirement & Pension System raised its holdings in Palomar by 1.5% in the 2nd quarter. Maryland State Retirement & Pension System now owns 7,859 shares of the company’s stock valued at $1,212,000 after acquiring an additional 113 shares during the period. 90.25% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Jonathan Knutzen sold 281 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $120.13, for a total value of $33,756.53. Following the transaction, the insider owned 21,210 shares in the company, valued at $2,547,957.30. The trade was a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO T Christopher Uchida sold 782 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $120.13, for a total transaction of $93,941.66. Following the completion of the transaction, the chief financial officer owned 7,668 shares in the company, valued at approximately $921,156.84. The trade was a 9.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 20,302 shares of company stock valued at $2,414,141 over the last quarter. Company insiders own 3.70% of the company’s stock.

Palomar Price Performance

Shares of Palomar stock opened at $116.71 on Thursday. Palomar Holdings, Inc. has a fifty-two week low of $94.45 and a fifty-two week high of $175.85. The firm has a market capitalization of $3.13 billion, a P/E ratio of 20.51 and a beta of 0.30. The company’s 50 day moving average price is $116.84 and its two-hundred day moving average price is $135.88.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Palomar in a report on Wednesday, October 8th. Keefe, Bruyette & Woods lowered their target price on shares of Palomar from $204.00 to $172.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Evercore ISI lowered their target price on shares of Palomar from $168.00 to $134.00 and set an “in-line” rating on the stock in a report on Wednesday, October 1st. JPMorgan Chase & Co. lowered their target price on shares of Palomar from $158.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday, October 9th. Finally, Piper Sandler reduced their price target on shares of Palomar from $177.00 to $151.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 6th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.