Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Purchased by Renaissance Group LLC

Renaissance Group LLC raised its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR) by 11.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,682 shares of the company’s stock after acquiring an additional 5,704 shares during the quarter. Renaissance Group LLC owned 0.21% of Palomar worth $5,879,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dakota Wealth Management grew its position in Palomar by 3.1% during the fourth quarter. Dakota Wealth Management now owns 3,070 shares of the company’s stock worth $324,000 after buying an additional 92 shares during the period. Farther Finance Advisors LLC boosted its position in Palomar by 21.8% during the fourth quarter. Farther Finance Advisors LLC now owns 554 shares of the company’s stock worth $58,000 after purchasing an additional 99 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Palomar by 0.7% in the fourth quarter. State of Alaska Department of Revenue now owns 15,042 shares of the company’s stock valued at $1,588,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of Palomar by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company’s stock valued at $1,352,000 after buying an additional 100 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in shares of Palomar by 2.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 5,837 shares of the company’s stock worth $616,000 after buying an additional 145 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Palomar Stock Performance

Shares of PLMR stock opened at $129.99 on Tuesday. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 29.02 and a beta of 0.46. The company has a 50 day moving average price of $124.61 and a 200 day moving average price of $109.98. Palomar Holdings, Inc. has a one year low of $74.09 and a one year high of $143.77.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share (EPS) for the quarter, beating 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 analysts forecast that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Insider Buying and Selling

In other news, President Jon Christianson sold 371 shares of the company’s stock in a transaction on Sunday, January 26th. The shares were sold at an average price of $101.69, for a total value of $37,726.99. Following the completion of the transaction, the president now directly owns 55,771 shares in the company, valued at approximately $5,671,352.99. This represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Angela L. Grant sold 717 shares of Palomar stock in a transaction on Sunday, January 26th. The stock was sold at an average price of $101.70, for a total transaction of $72,918.90. Following the sale, the insider now directly owns 2,951 shares in the company, valued at $300,116.70. This trade represents a 19.55 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,097 shares of company stock valued at $3,271,422. Company insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

PLMR has been the subject of a number of research reports. Piper Sandler lifted their target price 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. JMP Securities reiterated a “market perform” rating on shares of Palomar in a report on Thursday, February 13th. Truist Financial raised their price target on Palomar from $112.00 to $150.00 and gave the stock a “buy” rating in a research 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $127.83.

About Palomar

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.