Renaissance Group LLC Has $5.88 Million Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Renaissance Group LLC grew its stake in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 11.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,682 shares of the company's stock after acquiring an additional 5,704 shares during the period. Renaissance Group LLC owned 0.21% of Palomar worth $5,879,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Dakota Wealth Management increased its holdings in shares of Palomar by 3.1% in the fourth quarter. Dakota Wealth Management now owns 3,070 shares of the company's stock valued at $324,000 after purchasing an additional 92 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Palomar by 21.8% in the 4th quarter. Farther Finance Advisors LLC now owns 554 shares of the company's stock valued at $58,000 after buying an additional 99 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Palomar by 0.7% in the 4th quarter. State of Alaska Department of Revenue now owns 15,042 shares of the company's stock valued at $1,588,000 after buying an additional 100 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Palomar by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company's stock worth $1,352,000 after acquiring an additional 100 shares during the last quarter. Finally, Avantax Advisory Services Inc. lifted its stake in shares of Palomar by 2.5% during the fourth quarter. Avantax Advisory Services Inc. now owns 5,837 shares of the company's stock valued at $616,000 after acquiring an additional 145 shares during the period. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

PLMR has been the subject of several recent research reports. Piper Sandler boosted their price objective on Palomar from $133.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. JPMorgan Chase & Co. raised shares of Palomar from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $115.00 to $150.00 in a research note on Tuesday, April 8th. Truist Financial upped their target price on shares of Palomar from $112.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods reduced their price target on Palomar from $155.00 to $145.00 and set an "outperform" rating on the stock in a research report on Wednesday. Finally, JMP Securities reiterated a "market perform" rating on shares of Palomar in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Palomar currently has a consensus rating of "Moderate Buy" and an average price target of $143.67.

Insiders Place Their Bets

In other Palomar news, CEO Mac Armstrong sold 3,154 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $109.27, for a total transaction of $344,637.58. Following the completion of the transaction, the chief executive officer now owns 60,032 shares in the company, valued at approximately $6,559,696.64. This represents a 4.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $40,065.86. Following the completion of the sale, the chief financial officer now owns 16,943 shares in the company, valued at approximately $1,722,933.67. This trade represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,097 shares of company stock worth $3,415,422. Company insiders own 4.30% of the company's stock.

Palomar Trading Up 3.4 %

Shares of PLMR stock traded up $4.89 on Friday, hitting $147.88. The stock had a trading volume of 248,965 shares, compared to its average volume of 182,077. The firm has a market cap of $3.95 billion, a P/E ratio of 33.01 and a beta of 0.46. Palomar Holdings, Inc. has a twelve month low of $74.77 and a twelve month high of $148.54. The company has a fifty day moving average price of $128.46 and a two-hundred day moving average price of $111.73.

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