HighTower Advisors LLC cut its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 82.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,179 shares of the company's stock after selling 14,888 shares during the period. HighTower Advisors LLC's holdings in Palomar were worth $336,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of the business. Blue Trust Inc. acquired a new position in Palomar during the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC increased its stake in shares of Palomar by 536.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 414 shares of the company's stock valued at $43,000 after purchasing an additional 349 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Palomar by 63.2% during the 4th quarter. Jones Financial Companies Lllp now owns 493 shares of the company's stock worth $52,000 after buying an additional 191 shares in the last quarter. KBC Group NV lifted its position in shares of Palomar by 44.9% during the 4th quarter. KBC Group NV now owns 1,045 shares of the company's stock worth $110,000 after buying an additional 324 shares during the last quarter. Finally, Avanza Fonder AB acquired a new stake in Palomar in the fourth quarter valued at about $143,000. 90.25% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have recently commented on PLMR. Keefe, Bruyette & Woods increased their target price on shares of Palomar from $152.00 to $155.00 and gave the stock an "outperform" rating in a report on Friday, March 21st. Truist Financial raised their target price on shares of Palomar from $112.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, February 14th. JMP Securities reiterated a "market perform" rating on shares of Palomar in a research note on Thursday, February 13th. Finally, Piper Sandler boosted their price objective on Palomar from $133.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Palomar currently has a consensus rating of "Moderate Buy" and a consensus target price of $127.83.
Get Our Latest Stock Analysis on Palomar
Palomar Stock Up 1.0 %
Palomar stock traded up $1.38 during mid-day trading on Thursday, hitting $143.10. 397,642 shares of the stock were exchanged, compared to its average volume of 173,056. The firm's fifty day simple moving average is $122.73 and its two-hundred day simple moving average is $109.08. Palomar Holdings, Inc. has a 12 month low of $74.09 and a 12 month high of $143.46. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 31.94 and a beta of 0.33.
Palomar (NASDAQ:PLMR - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. As a group, analysts forecast that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CEO Mac Armstrong sold 3,154 shares of the business's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $109.27, for a total transaction of $344,637.58. Following the transaction, the chief executive officer now owns 60,032 shares in the company, valued at $6,559,696.64. The trade was a 4.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Jon Christianson sold 371 shares of the firm's stock in a transaction on Sunday, January 26th. The stock was sold at an average price of $101.69, for a total transaction of $37,726.99. Following the completion of the sale, the president now owns 55,771 shares of the company's stock, valued at $5,671,352.99. The trade was a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,097 shares of company stock worth $3,271,422. 4.30% of the stock is owned by corporate insiders.
Palomar Company Profile
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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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