Hussman Strategic Advisors Inc. Takes Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Hussman Strategic Advisors Inc. acquired a new stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,200 shares of the company's stock, valued at approximately $443,000.

Other large investors have also recently made changes to their positions in the company. State Street Corp boosted its holdings in Palomar by 3.0% in the third quarter. State Street Corp now owns 1,097,702 shares of the company's stock valued at $103,919,000 after purchasing an additional 32,151 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Palomar by 3.2% in the third quarter. Geode Capital Management LLC now owns 600,092 shares of the company's stock valued at $56,822,000 after purchasing an additional 18,335 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Palomar by 9.5% in the third quarter. JPMorgan Chase & Co. now owns 128,165 shares of the company's stock valued at $12,133,000 after purchasing an additional 11,140 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Palomar by 58.7% in the third quarter. Thrivent Financial for Lutherans now owns 32,837 shares of the company's stock valued at $3,109,000 after purchasing an additional 12,147 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new stake in Palomar in the third quarter valued at $1,711,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. JMP Securities reaffirmed a "market perform" rating on shares of Palomar in a report on Thursday, February 13th. Truist Financial upped their price target on shares of Palomar from $112.00 to $150.00 and gave the company a "buy" rating in a report on Friday, February 14th. Piper Sandler upped their price objective on shares of Palomar from $133.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods upped their price objective on shares of Palomar from $136.00 to $152.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Palomar from $93.00 to $100.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $127.33.

Palomar Stock Performance

Shares of Palomar stock opened at $120.76 on Friday. Palomar Holdings, Inc. has a fifty-two week low of $71.54 and a fifty-two week high of $128.38. The firm has a 50-day simple moving average of $108.89 and a two-hundred day simple moving average of $101.86. The company has a market cap of $3.20 billion, a P/E ratio of 26.96 and a beta of 0.38.

Palomar (NASDAQ:PLMR - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share for the quarter, topping 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%. Equities research analysts forecast that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Insider Buying and Selling

In other Palomar news, insider Jonathan Knutzen sold 282 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $104.46, for a total value of $29,457.72. Following the completion of the sale, the insider now owns 20,098 shares in the company, valued at approximately $2,099,437.08. This represents a 1.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO T Christopher Uchida sold 552 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $123.26, for a total transaction of $68,039.52. Following the completion of the sale, the chief financial officer now owns 15,683 shares of the company's stock, valued at approximately $1,933,086.58. The trade was a 3.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,485 shares of company stock worth $4,098,195 in the last 90 days. Insiders own 4.30% 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.

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