Palomar Holdings, Inc. (NASDAQ:PLMR) Stock Position Decreased by Marshall Wace LLP

Marshall Wace LLP lowered its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 49.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,738 shares of the company's stock after selling 76,499 shares during the period. Marshall Wace LLP owned about 0.29% of Palomar worth $8,103,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its holdings in shares of Palomar by 9.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 128,165 shares of the company's stock worth $12,133,000 after purchasing an additional 11,140 shares during the last quarter. Principal Financial Group Inc. increased its position in Palomar by 5.6% in the fourth quarter. Principal Financial Group Inc. now owns 147,540 shares of the company's stock worth $15,579,000 after buying an additional 7,875 shares during the period. Artemis Investment Management LLP lifted its stake in Palomar by 18.7% in the fourth quarter. Artemis Investment Management LLP now owns 455,082 shares of the company's stock valued at $48,052,000 after buying an additional 71,806 shares during the last quarter. Atlas Capital Advisors Inc. boosted its holdings in shares of Palomar by 175.5% during the fourth quarter. Atlas Capital Advisors Inc. now owns 141,284 shares of the company's stock valued at $14,918,000 after acquiring an additional 90,000 shares during the period. Finally, Harbor Capital Advisors Inc. grew its position in shares of Palomar by 28.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 42,853 shares of the company's stock worth $4,525,000 after acquiring an additional 9,396 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Palomar

In other Palomar news, CFO T Christopher Uchida sold 500 shares of the business's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $153.04, for a total transaction of $76,520.00. Following the sale, the chief financial officer now directly owns 7,672 shares of the company's stock, valued at $1,174,122.88. The trade was a 6.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mac Armstrong sold 5,000 shares of the firm's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $129.72, for a total value of $648,600.00. Following the completion of the sale, the chief executive officer now directly owns 402,388 shares of the company's stock, valued at approximately $52,197,771.36. This trade represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,615 shares of company stock valued at $2,906,319. 4.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Jefferies Financial Group upped their target price on shares of Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. JMP Securities restated a "market perform" rating on shares of Palomar in a research report on Thursday, February 13th. JPMorgan Chase & Co. upgraded Palomar from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $115.00 to $150.00 in a research report on Tuesday, April 8th. Piper Sandler raised their price target on Palomar from $133.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Finally, Truist Financial upped their price objective on shares of Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a report on Tuesday, April 15th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $148.33.

Palomar Trading Up 2.6 %

NASDAQ:PLMR opened at $147.96 on Wednesday. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 33.03 and a beta of 0.46. Palomar Holdings, Inc. has a twelve month low of $77.17 and a twelve month high of $155.87. The company has a 50-day moving average of $133.72 and a 200-day moving average of $114.20.

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

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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