Swiss National Bank Boosts Stock Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Swiss National Bank raised its stake in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 5.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,500 shares of the company's stock after purchasing an additional 2,700 shares during the quarter. Swiss National Bank owned 0.19% of Palomar worth $5,438,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. State Street Corp lifted its position 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 position in shares of 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 in the last quarter. Artemis Investment Management LLP boosted its stake in shares of Palomar by 18.7% in the 4th quarter. Artemis Investment Management LLP now owns 455,082 shares of the company's stock worth $48,052,000 after buying an additional 71,806 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Palomar by 24.5% in the third quarter. Westfield Capital Management Co. LP now owns 394,408 shares of the company's stock valued at $37,339,000 after acquiring an additional 77,552 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in shares of Palomar by 2.2% during the fourth quarter. Handelsbanken Fonder AB now owns 244,602 shares of the company's stock valued at $25,828,000 after acquiring an additional 5,335 shares during the last quarter. Institutional investors own 90.25% of the company's stock.

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Wall Street Analyst Weigh In

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

Palomar Stock Up 1.6 %

NASDAQ:PLMR traded up $2.20 during mid-day trading on Thursday, hitting $136.60. 135,289 shares of the stock traded hands, compared to its average volume of 161,984. Palomar Holdings, Inc. has a 12-month low of $74.09 and a 12-month high of $137.89. The company has a market cap of $3.64 billion, a PE ratio of 30.49 and a beta of 0.33. The business's 50-day moving average price is $119.85 and its 200 day moving average price is $107.53.

Palomar (NASDAQ:PLMR - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.37 EPS 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%. Analysts anticipate that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Mac Armstrong sold 5,000 shares of the company's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $129.72, for a total value of $648,600.00. Following the transaction, the chief executive officer now directly owns 402,388 shares in the company, valued at approximately $52,197,771.36. This represents a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO T Christopher Uchida sold 394 shares of the firm's stock in a transaction that occurred on Sunday, January 26th. The shares were sold at an average price of $101.69, for a total transaction of $40,065.86. Following the completion of the sale, the chief financial officer now directly owns 16,943 shares in the company, valued at $1,722,933.67. This represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,455 shares of company stock worth $3,911,340 over the last ninety days. 4.30% of the stock is owned by corporate 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.