Palomar Holdings, Inc. (NASDAQ:PLMR) Stake Raised by Horizon Investment Services LLC

Horizon Investment Services LLC lifted its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 139.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,028 shares of the company's stock after buying an additional 4,678 shares during the period. Horizon Investment Services LLC's holdings in Palomar were worth $848,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Blue Trust Inc. acquired a new stake in Palomar during the fourth quarter worth about $26,000. Smartleaf Asset Management LLC raised its holdings in 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 buying an additional 349 shares during the period. Jones Financial Companies Lllp lifted its position in Palomar by 63.2% during the fourth quarter. Jones Financial Companies Lllp now owns 493 shares of the company's stock valued at $52,000 after buying an additional 191 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Palomar by 21.8% during the 4th quarter. Farther Finance Advisors LLC now owns 554 shares of the company's stock worth $58,000 after purchasing an additional 99 shares during the period. Finally, KBC Group NV raised its holdings in shares of Palomar by 44.9% during the 4th quarter. KBC Group NV now owns 1,045 shares of the company's stock valued at $110,000 after buying an additional 324 shares during the period. 90.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palomar

In other Palomar news, insider Jonathan Knutzen sold 282 shares of the business's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $104.46, for a total transaction of $29,457.72. Following the sale, the insider now directly owns 20,098 shares in the company, valued at approximately $2,099,437.08. The trade was a 1.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mac Armstrong sold 7,000 shares of the 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 completion of the transaction, the chief executive officer now owns 412,388 shares of the company's stock, valued at $45,263,706.88. This trade represents a 1.67 % 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 over the last ninety days. 4.30% of the stock is currently owned by corporate insiders.

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Palomar Trading Up 1.7 %

Palomar stock traded up $2.35 during midday trading on Wednesday, reaching $140.89. 83,112 shares of the stock traded hands, compared to its average volume of 171,352. The firm has a fifty day moving average price of $122.05 and a two-hundred day moving average price of $108.85. Palomar Holdings, Inc. has a fifty-two week low of $74.09 and a fifty-two week high of $141.57. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of 31.45 and a beta of 0.33.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Piper Sandler raised their price objective on Palomar from $133.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods lifted their price target on Palomar from $152.00 to $155.00 and gave the stock an "outperform" rating in a research note on Friday, March 21st. JMP Securities reiterated a "market perform" rating on shares of Palomar in a research report on Thursday, February 13th. Finally, Truist Financial upped their price target on Palomar from $112.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.83.

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.