Palomar Holdings, Inc. (NASDAQ:PLMR) Holdings Lifted by Atlas Capital Advisors Inc.

Atlas Capital Advisors Inc. raised its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 175.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,284 shares of the company's stock after purchasing an additional 90,000 shares during the period. Palomar accounts for about 1.9% of Atlas Capital Advisors Inc.'s holdings, making the stock its 6th biggest position. Atlas Capital Advisors Inc. owned 0.53% of Palomar worth $14,918,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. State Street Corp lifted its holdings in Palomar by 3.0% during the 3rd quarter. State Street Corp now owns 1,097,702 shares of the company's stock worth $103,919,000 after purchasing an additional 32,151 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of 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 acquiring an additional 18,335 shares during the period. JPMorgan Chase & Co. boosted its position in shares of 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 acquiring an additional 11,140 shares during the period. HighTower Advisors LLC purchased a new position in Palomar during the third quarter valued at approximately $1,711,000. Finally, Principal Financial Group Inc. increased its holdings in Palomar by 5.6% during the 4th quarter. Principal Financial Group Inc. now owns 147,540 shares of the company's stock worth $15,579,000 after acquiring an additional 7,875 shares during the period. Institutional investors own 90.25% of the company's stock.

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Insider Buying and Selling

In other news, CEO Mac Armstrong sold 5,000 shares of the firm'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 value of $648,600.00. Following the transaction, the chief executive officer now owns 402,388 shares in the company, valued at approximately $52,197,771.36. This trade represents a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO T Christopher Uchida sold 394 shares of the company's stock in a transaction on 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 owns 16,943 shares of the company's stock, valued at $1,722,933.67. This represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,097 shares of company stock worth $3,271,422 in the last 90 days. 4.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PLMR. 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 research report on Friday, February 14th. JMP Securities restated a "market perform" rating on shares of Palomar in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised Palomar from a "neutral" rating to an "overweight" rating and raised their price target for the company from $115.00 to $150.00 in a report on Tuesday. Keefe, Bruyette & Woods boosted their price objective on Palomar from $152.00 to $155.00 and gave the stock an "outperform" rating in a report on Friday, March 21st. Finally, Truist Financial upped their price objective on shares of Palomar from $112.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Palomar currently has a consensus rating of "Moderate Buy" and a consensus target price of $136.17.

Palomar Stock Up 3.9 %

Shares of Palomar stock traded up $5.03 during trading on Tuesday, hitting $135.02. 233,308 shares of the stock traded hands, compared to its average volume of 177,183. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 30.23 and a beta of 0.46. Palomar Holdings, Inc. has a 52 week low of $74.09 and a 52 week high of $143.77. The firm's fifty day moving average is $124.61 and its 200-day moving average is $109.98.

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

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.