Palomar Holdings, Inc. (NASDAQ:PLMR) Stake Raised by WINTON GROUP Ltd

WINTON GROUP Ltd lifted its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,643 shares of the company’s stock after buying an additional 347 shares during the period. WINTON GROUP Ltd’s holdings in Palomar were worth $1,335,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. bought a new position in shares of Palomar in the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC boosted its stake in Palomar by 536.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 414 shares of the company’s stock valued at $43,000 after purchasing an additional 349 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Palomar by 63.2% during the 4th quarter. Jones Financial Companies Lllp now owns 493 shares of the company’s stock valued at $52,000 after purchasing an additional 191 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Palomar by 21.8% in the 4th quarter. Farther Finance Advisors LLC now owns 554 shares of the company’s stock worth $58,000 after buying an additional 99 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Palomar by 44.9% in the fourth quarter. KBC Group NV now owns 1,045 shares of the company’s stock valued at $110,000 after buying an additional 324 shares during the period. 90.25% of the stock is owned by institutional investors.

Palomar Price Performance

NASDAQ:PLMR opened at $136.60 on Friday. The stock’s 50-day moving average is $120.41 and its two-hundred day moving average is $107.73. The stock has a market cap of $3.64 billion, a PE ratio of 30.49 and a beta of 0.33. Palomar Holdings, Inc. has a fifty-two week low of $74.09 and a fifty-two week high of $137.89.

Palomar (NASDAQ:PLMR) last released 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 net margin of 21.23% and a return on equity of 19.76%. On average, equities research analysts anticipate that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, insider Jonathan Knutzen sold 282 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $104.46, for a total value of $29,457.72. Following the transaction, the insider now owns 20,098 shares in the company, valued at approximately $2,099,437.08. This represents a 1.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Angela L. Grant sold 1,505 shares of Palomar stock in a transaction that occurred on Wednesday, January 1st. The shares were 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 of the company’s stock, valued at $268,249.24. This trade represents a 37.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,455 shares of company stock worth $3,911,340. Corporate insiders own 4.30% of the company’s stock.

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.