Integrated Quantitative Investments LLC Invests $1.09 Million in Palomar Holdings, Inc. (NASDAQ:PLMR)

Integrated Quantitative Investments LLC purchased a new position in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,321 shares of the company's stock, valued at approximately $1,090,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Palomar by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 2,574,923 shares of the company's stock worth $271,886,000 after purchasing an additional 53,123 shares during the period. State Street Corp lifted its stake in shares of 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 buying an additional 32,151 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Palomar by 36.6% during the fourth quarter. American Century Companies Inc. now owns 785,419 shares of the company's stock valued at $82,932,000 after buying an additional 210,523 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Palomar by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 618,840 shares of the company's stock worth $65,358,000 after acquiring an additional 18,748 shares in the last quarter. Finally, Artemis Investment Management LLP lifted its position in Palomar by 18.7% in the 4th quarter. Artemis Investment Management LLP now owns 455,082 shares of the company's stock valued at $48,052,000 after acquiring an additional 71,806 shares in the last quarter. Institutional investors own 90.25% of the company's stock.

Remove Ads

Palomar Trading Up 1.3 %

Shares of NASDAQ:PLMR traded up $1.69 during midday trading on Wednesday, reaching $132.75. The company had a trading volume of 112,238 shares, compared to its average volume of 220,936. Palomar Holdings, Inc. has a 52-week low of $74.09 and a 52-week high of $143.77. The company's 50 day moving average price is $125.49 and its 200 day moving average price is $110.38. The stock has a market cap of $3.54 billion, a P/E ratio of 29.63 and a beta of 0.46.

Palomar (NASDAQ:PLMR - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. Research analysts forecast that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other Palomar news, CFO T Christopher Uchida sold 1,000 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $139.00, for a total transaction of $139,000.00. Following the completion of the transaction, the chief financial officer now owns 10,172 shares in the company, valued at $1,413,908. This trade represents a 8.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mac Armstrong sold 5,000 shares of the business's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $129.72, for a total transaction of $648,600.00. Following the completion of the sale, the chief executive officer now directly owns 402,388 shares in the company, valued at approximately $52,197,771.36. This trade represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,097 shares of company stock valued at $3,271,422 over the last ninety days. 4.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PLMR has been the subject of several analyst reports. Keefe, Bruyette & Woods lowered their price objective on Palomar from $155.00 to $145.00 and set an "outperform" rating for the company in a research note on Wednesday. Truist Financial increased their price target on Palomar from $112.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Piper Sandler lifted their price objective on shares of Palomar from $133.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. JPMorgan Chase & Co. upgraded shares of Palomar from a "neutral" rating to an "overweight" rating and increased their target price for the company from $115.00 to $150.00 in a report on Tuesday. Finally, JMP Securities restated a "market perform" rating on shares of Palomar in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $134.50.

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.