Systematic Alpha Investments LLC Invests $211,000 in Palomar Holdings, Inc. (NASDAQ:PLMR)

Systematic Alpha Investments LLC bought a new stake in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,000 shares of the company's stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in shares of Palomar by 6.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 230,552 shares of the company's stock valued at $21,826,000 after acquiring an additional 14,509 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Palomar by 25.1% during the third quarter. The Manufacturers Life Insurance Company now owns 75,216 shares of the company's stock worth $7,121,000 after purchasing an additional 15,093 shares during the period. FMR LLC increased its position in Palomar by 39.5% during the third quarter. FMR LLC now owns 2,123 shares of the company's stock worth $201,000 after buying an additional 601 shares during the last quarter. Glenmede Trust Co. NA bought a new stake in Palomar in the third quarter valued at approximately $352,000. Finally, Centiva Capital LP acquired a new stake in shares of Palomar in the third quarter valued at approximately $352,000. Institutional investors and hedge funds own 90.25% of the company's stock.

Insiders Place Their Bets

In other news, CFO T Christopher Uchida sold 1,000 shares of the business's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $139.00, for a total transaction of $139,000.00. Following the completion of the transaction, the chief financial officer now owns 10,172 shares of the company's stock, valued at approximately $1,413,908. The trade was a 8.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan Knutzen sold 282 shares of the firm'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 completion of the sale, the insider now directly owns 20,098 shares in the company, valued at $2,099,437.08. This trade represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,097 shares of company stock worth $3,271,422 over the last ninety days. Corporate insiders own 4.30% of the company's stock.

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Palomar Stock Performance

Shares of NASDAQ PLMR traded up $1.69 during midday trading on Wednesday, reaching $132.75. The company's stock had a trading volume of 112,238 shares, compared to its average volume of 220,936. The company has a market cap of $3.54 billion, a P/E ratio of 29.63 and a beta of 0.46. The business's 50 day moving average price is $125.49 and its two-hundred day moving average price is $110.38. Palomar Holdings, Inc. has a fifty-two week low of $74.09 and a fifty-two week high of $143.77.

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 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%. Sell-side analysts forecast that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. JMP Securities restated a "market perform" rating on shares of Palomar in a research note on Thursday, February 13th. Keefe, Bruyette & Woods cut their target price on shares of Palomar from $155.00 to $145.00 and set an "outperform" rating for the company in a research note on Wednesday. JPMorgan Chase & Co. upgraded shares of Palomar from a "neutral" rating to an "overweight" rating and upped their price target for the company from $115.00 to $150.00 in a research note on Tuesday. Piper Sandler increased their price target on shares of 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 target price on Palomar from $112.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Palomar presently has a consensus rating of "Moderate Buy" and a consensus price target of $134.50.

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.