Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Sold by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. decreased its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 3.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,838 shares of the company's stock after selling 3,897 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.36% of Palomar worth $10,014,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Blue Trust Inc. acquired a new stake in shares of Palomar during the fourth quarter worth $26,000. Smartleaf Asset Management LLC increased its holdings in Palomar by 536.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 414 shares of the company's stock worth $43,000 after buying an additional 349 shares during the period. Farther Finance Advisors LLC lifted its stake in Palomar by 490.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company's stock valued at $43,000 after acquiring an additional 378 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Palomar by 63.2% in the 4th quarter. Jones Financial Companies Lllp now owns 493 shares of the company's stock valued at $52,000 after acquiring an additional 191 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Palomar by 44.9% during the fourth quarter. KBC Group NV now owns 1,045 shares of the company's stock worth $110,000 after purchasing an additional 324 shares during the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Palomar Price Performance

PLMR opened at $130.44 on Thursday. The business has a fifty day moving average price of $114.48 and a 200 day moving average price of $105.14. Palomar Holdings, Inc. has a 12 month low of $74.09 and a 12 month high of $136.90. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 29.12 and a beta of 0.33.

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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 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, research analysts anticipate that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Insider Activity at Palomar

In other news, President Jon Christianson sold 356 shares of the company's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $104.51, for a total transaction of $37,205.56. Following the completion of the sale, the president now owns 57,259 shares in the company, valued at $5,984,138.09. This represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO T Christopher Uchida sold 552 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $123.26, for a total transaction of $68,039.52. Following the transaction, the chief financial officer now owns 15,683 shares of the company's stock, valued at approximately $1,933,086.58. The trade was a 3.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,485 shares of company stock valued at $4,098,195 in the last ninety days. Insiders own 4.30% of the company's stock.

Analysts Set New Price Targets

PLMR has been the subject of several recent research reports. JMP Securities reaffirmed a "market perform" rating on shares of Palomar in a report on Thursday, February 13th. Piper Sandler raised their price objective on Palomar from $133.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Keefe, Bruyette & Woods upped their target price on Palomar from $136.00 to $152.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Finally, Truist Financial boosted their price target on shares of Palomar from $112.00 to $150.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $127.33.

Palomar Profile

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.

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