Cookson Peirce & Co. Inc. Purchases 2,512 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Cookson Peirce & Co. Inc. boosted its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 63.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,497 shares of the company's stock after acquiring an additional 2,512 shares during the quarter. Cookson Peirce & Co. Inc.'s holdings in Palomar were worth $686,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. bought a new stake in Palomar in the 4th quarter valued at $26,000. Farther Finance Advisors LLC increased its holdings in shares of Palomar by 490.9% in the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company's stock valued at $43,000 after purchasing an additional 378 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Palomar by 536.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 414 shares of the company's stock valued at $43,000 after purchasing an additional 349 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Palomar by 63.2% during the 4th quarter. Jones Financial Companies Lllp now owns 493 shares of the company's stock worth $52,000 after buying an additional 191 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Palomar by 20.2% during the 3rd quarter. Covestor Ltd now owns 1,076 shares of the company's stock worth $102,000 after buying an additional 181 shares during the period. Institutional investors and hedge funds own 90.25% of the company's stock.

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Palomar Stock Performance

Shares of NASDAQ PLMR traded up $2.22 during midday trading on Friday, reaching $127.56. The company's stock had a trading volume of 249,713 shares, compared to its average volume of 161,037. The company has a market cap of $3.40 billion, a P/E ratio of 28.47 and a beta of 0.33. The business's 50 day moving average price is $113.04 and its two-hundred day moving average price is $104.46. Palomar Holdings, Inc. has a fifty-two week low of $71.54 and a fifty-two week high of $136.90.

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

Insider Activity at Palomar

In related news, CFO T Christopher Uchida sold 552 shares of Palomar stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $123.26, for a total value of $68,039.52. Following the transaction, the chief financial officer now directly owns 15,683 shares of the company's stock, valued at $1,933,086.58. This trade represents a 3.40 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 that occurred on Tuesday, January 21st. The shares were sold at an average price of $109.76, for a total transaction of $768,320.00. Following the transaction, the chief executive officer now owns 412,388 shares of the company's stock, valued at approximately $45,263,706.88. This represents a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,485 shares of company stock valued at $4,098,195 over the last quarter. 4.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PLMR. Truist Financial increased their price target on shares of Palomar from $112.00 to $150.00 and gave the company a "buy" rating in a report on Friday, February 14th. JMP Securities reiterated a "market perform" rating on shares of Palomar in a research note on Thursday, February 13th. Keefe, Bruyette & Woods lifted their price target on Palomar from $136.00 to $152.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Finally, Piper Sandler boosted their price target on Palomar from $133.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Palomar presently has an average rating of "Moderate Buy" and a consensus target price of $127.33.

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.