Orion Portfolio Solutions LLC acquired a new stake in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 2,329 shares of the company's stock, valued at approximately $246,000.
Several other hedge funds have also added to or reduced their stakes in PLMR. Pictet Asset Management Holding SA grew its holdings in Palomar by 46.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,968 shares of the company's stock valued at $419,000 after purchasing an additional 1,256 shares during the period. Norges Bank bought a new position in Palomar in the fourth quarter valued at $20,637,000. JPMorgan Chase & Co. increased its position in shares of Palomar by 37.8% in the fourth quarter. JPMorgan Chase & Co. now owns 176,561 shares of the company's stock valued at $18,643,000 after acquiring an additional 48,396 shares during the last quarter. WINTON GROUP Ltd increased its position in shares of Palomar by 2.8% during the 4th quarter. WINTON GROUP Ltd now owns 12,643 shares of the company's stock worth $1,335,000 after purchasing an additional 347 shares during the last quarter. Finally, Sheets Smith Investment Management acquired a new position in Palomar during the fourth quarter worth $1,629,000. Institutional investors own 90.25% of the company's stock.
Insider Transactions at Palomar
In related news, President Jon Christianson sold 371 shares of the business's stock in a transaction dated Sunday, January 26th. The stock was sold at an average price of $101.69, for a total value of $37,726.99. Following the completion of the sale, the president now directly owns 55,771 shares of the company's stock, valued at $5,671,352.99. The trade was a 0.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jonathan Knutzen sold 282 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $104.46, for a total value of $29,457.72. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,943 shares of company stock valued at $3,221,024. Corporate insiders own 4.30% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have issued reports on PLMR. JPMorgan Chase & Co. upgraded Palomar from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $115.00 to $150.00 in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods dropped their price objective on shares of Palomar from $155.00 to $145.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Truist Financial upped their target price on Palomar from $150.00 to $178.00 and gave the company a "buy" rating in a research report on Tuesday. Piper Sandler upped their price target on shares of Palomar from $133.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Finally, Jefferies Financial Group raised their price objective on Palomar from $145.00 to $168.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $148.33.
View Our Latest Stock Report on Palomar
Palomar Trading Down 1.4 %
PLMR traded down $2.18 during trading on Wednesday, reaching $152.16. 28,205 shares of the company's stock were exchanged, compared to its average volume of 183,559. The stock has a market capitalization of $4.06 billion, a PE ratio of 33.97 and a beta of 0.46. Palomar Holdings, Inc. has a one year low of $74.77 and a one year high of $162.50. The firm has a fifty day moving average price of $130.15 and a two-hundred day moving average price of $112.41.
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%. Sell-side analysts expect that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.
Palomar Profile
(
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.
Featured Articles
Before you consider Palomar, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Palomar wasn't on the list.
While Palomar currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
