Palomar Holdings, Inc. (NASDAQ:PLMR) Stock Holdings Trimmed by Jane Street Group LLC

Jane Street Group LLC lowered its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 20.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,207 shares of the company's stock after selling 6,801 shares during the period. Jane Street Group LLC owned 0.10% of Palomar worth $2,481,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in Palomar by 3.0% in the 3rd 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 during the period. Victory Capital Management Inc. increased its position in Palomar by 1,634.6% during the second quarter. Victory Capital Management Inc. now owns 177,678 shares of the company's stock worth $14,419,000 after purchasing an additional 167,435 shares during the last quarter. Driehaus Capital Management LLC increased its position in Palomar by 17.1% during the second quarter. Driehaus Capital Management LLC now owns 300,213 shares of the company's stock worth $24,362,000 after purchasing an additional 43,841 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Palomar by 58.7% in the 3rd 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 acquired a new position in shares of Palomar in the 3rd quarter valued at $1,711,000. Hedge funds and other institutional investors own 90.25% of the company's stock.

Palomar Trading Down 2.2 %

PLMR stock traded down $2.36 during midday trading on Monday, hitting $102.57. 90,391 shares of the company's stock were exchanged, compared to its average volume of 163,778. The firm has a 50 day moving average price of $102.23 and a 200-day moving average price of $94.79. Palomar Holdings, Inc. has a 12-month low of $54.50 and a 12-month high of $112.90. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 24.36 and a beta of 0.36.

Palomar (NASDAQ:PLMR - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.20. Palomar had a net margin of 21.55% and a return on equity of 19.65%. The company had revenue of $148.50 million during the quarter, compared to the consensus estimate of $134.72 million. During the same quarter in the previous year, the firm earned $0.80 EPS. On average, sell-side analysts forecast that Palomar Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Analyst Ratings Changes

PLMR has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their price target on Palomar from $120.00 to $136.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. JPMorgan Chase & Co. increased their target price 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. Jefferies Financial Group raised their price target on shares of Palomar from $110.00 to $113.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Finally, Piper Sandler boosted their price objective on shares of Palomar from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $111.67.

Insider Transactions at Palomar

In related news, CFO T Christopher Uchida sold 1,030 shares of the business's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $110.85, for a total transaction of $114,175.50. Following the completion of the transaction, the chief financial officer now owns 15,994 shares in the company, valued at $1,772,934.90. The trade was a 6.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mac Armstrong sold 3,185 shares of the company's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $98.21, for a total value of $312,798.85. Following the transaction, the chief executive officer now owns 50,312 shares of the company's stock, valued at approximately $4,941,141.52. The trade was a 5.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,356 shares of company stock worth $2,134,525. 4.30% of the stock is currently owned by insiders.

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.