Quantbot Technologies LP Lowers Stock Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Quantbot Technologies LP reduced its stake in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 31.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,318 shares of the company's stock after selling 6,577 shares during the period. Quantbot Technologies LP owned approximately 0.05% of Palomar worth $1,512,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Palomar by 3.0% during the third quarter. State Street Corp now owns 1,097,702 shares of the company's stock valued at $103,919,000 after purchasing an additional 32,151 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Palomar by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 600,092 shares of the company's stock worth $56,822,000 after buying an additional 18,335 shares during the period. JPMorgan Chase & Co. grew its position in shares of Palomar by 9.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 128,165 shares of the company's stock valued at $12,133,000 after buying an additional 11,140 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Palomar by 58.7% in the third quarter. Thrivent Financial for Lutherans now owns 32,837 shares of the company's stock valued at $3,109,000 after buying an additional 12,147 shares during the period. Finally, HighTower Advisors LLC acquired a new position in shares of Palomar in the third quarter worth approximately $1,711,000. Institutional investors and hedge funds own 90.25% of the company's stock.

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Analyst Ratings Changes

PLMR has been the subject of a number of analyst reports. JMP Securities reissued a "market perform" rating on shares of Palomar in a research note on Thursday, February 13th. Piper Sandler increased their price objective on shares of Palomar from $133.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods lifted their price objective on shares of Palomar from $152.00 to $155.00 and gave the company an "outperform" rating in a report on Friday, March 21st. Finally, Truist Financial lifted their price target on Palomar from $112.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Palomar presently has an average rating of "Moderate Buy" and a consensus target price of $127.83.

Palomar Trading Up 0.1 %

PLMR traded up $0.17 during midday trading on Friday, reaching $136.77. The company's stock had a trading volume of 191,182 shares, compared to its average volume of 170,637. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 30.53 and a beta of 0.33. Palomar Holdings, Inc. has a 1 year low of $74.09 and a 1 year high of $137.89. The stock's 50-day moving average is $120.41 and its 200-day moving average is $107.73.

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

Insider Transactions at Palomar

In other news, insider Angela L. Grant sold 1,505 shares of the stock in a transaction on Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total transaction of $159,319.30. Following the completion of the sale, the insider now owns 2,534 shares in the company, valued at approximately $268,249.24. This represents a 37.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $29,457.72. Following the sale, the insider now 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 35,455 shares of company stock worth $3,911,340. 4.30% of the stock is currently owned by company insiders.

Palomar Company 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.