Kornitzer Capital Management Inc. KS Sells 31,865 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Kornitzer Capital Management Inc. KS lowered its position in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 19.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 131,108 shares of the company's stock after selling 31,865 shares during the period. Kornitzer Capital Management Inc. KS owned 0.50% of Palomar worth $13,844,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in Palomar during the 3rd quarter worth $25,000. Blue Trust Inc. acquired a new stake in Palomar during the 4th quarter worth $26,000. Farther Finance Advisors LLC grew its holdings in Palomar by 490.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company's stock worth $43,000 after acquiring an additional 378 shares during the period. Covestor Ltd grew its holdings in Palomar by 20.2% during the 3rd quarter. Covestor Ltd now owns 1,076 shares of the company's stock worth $102,000 after acquiring an additional 181 shares during the period. Finally, KBC Group NV grew its holdings in 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 acquiring an additional 324 shares during the period. Institutional investors own 90.25% of the company's stock.

Palomar Trading Down 1.4 %

Shares of PLMR stock traded down $1.69 on Friday, hitting $119.07. The stock had a trading volume of 179,560 shares, compared to its average volume of 172,690. The firm has a market cap of $3.15 billion, a P/E ratio of 26.58 and a beta of 0.38. Palomar Holdings, Inc. has a twelve month low of $71.54 and a twelve month high of $128.38. The company has a fifty day moving average price of $108.89 and a two-hundred day moving average price of $101.86.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.37 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%. On average, analysts expect that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Insider Activity at Palomar

In other Palomar news, CFO T Christopher Uchida sold 394 shares of the business's stock in a transaction dated Sunday, January 26th. The shares were sold at an average price of $101.69, for a total transaction of $40,065.86. Following the sale, the chief financial officer now directly owns 16,943 shares of the company's stock, valued at $1,722,933.67. The trade was a 2.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mac Armstrong sold 7,000 shares of the business's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $103.04, for a total transaction of $721,280.00. Following the sale, the chief executive officer now directly owns 419,388 shares in the company, valued at $43,213,739.52. This trade represents a 1.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,485 shares of company stock valued at $4,098,195. 4.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Truist Financial lifted their target price on shares of Palomar from $112.00 to $150.00 and gave the stock a "buy" rating in a report on Friday, February 14th. JPMorgan Chase & Co. lifted their target price on shares of Palomar from $93.00 to $100.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods boosted their price target on shares of Palomar from $136.00 to $152.00 and gave the company an "outperform" rating in a report on Tuesday. Piper Sandler boosted their price target on shares of Palomar from $133.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Finally, JMP Securities reissued a "market perform" rating on shares of Palomar in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $127.33.

Palomar 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.