Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Bought by Amundi

Amundi grew its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 753.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 39,344 shares of the company’s stock after acquiring an additional 34,734 shares during the quarter. Amundi’s holdings in Palomar were worth $4,165,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. State Street Corp raised its holdings in Palomar by 3.0% in the third quarter. State Street Corp now owns 1,097,702 shares of the company’s stock valued at $103,919,000 after buying an additional 32,151 shares during the period. Geode Capital Management LLC lifted its holdings 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 valued at $56,822,000 after acquiring an additional 18,335 shares in the last quarter. Artemis Investment Management LLP boosted its position in Palomar by 18.7% during the 4th quarter. Artemis Investment Management LLP now owns 455,082 shares of the company’s stock worth $48,052,000 after purchasing an additional 71,806 shares during the period. Westfield Capital Management Co. LP increased its holdings in Palomar by 24.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 394,408 shares of the company’s stock valued at $37,339,000 after purchasing an additional 77,552 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its position in Palomar by 2.2% in the fourth quarter. Handelsbanken Fonder AB now owns 244,602 shares of the company’s stock valued at $25,828,000 after purchasing an additional 5,335 shares during the period. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Insiders Place Their Bets

In related news, CFO T Christopher Uchida sold 1,030 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $110.85, for a total transaction of $114,175.50. Following the sale, the chief financial officer now owns 15,994 shares in the company, valued at $1,772,934.90. This represents a 6.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mac Armstrong sold 7,000 shares of Palomar stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $103.04, for a total value of $721,280.00. Following the completion of the transaction, the chief executive officer now owns 419,388 shares of the company’s stock, valued at approximately $43,213,739.52. The trade was a 1.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,485 shares of company stock valued at $4,098,195. Company insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

PLMR has been the topic of several analyst reports. Keefe, Bruyette & Woods raised their target price on Palomar from $136.00 to $152.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Truist Financial lifted their price objective on shares of Palomar from $112.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, February 14th. JMP Securities reaffirmed a “market perform” rating on shares of Palomar in a report on Thursday, February 13th. Finally, Piper Sandler boosted 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. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Palomar has an average rating of “Moderate Buy” and an average target price of $127.33.

Palomar Trading Up 3.4 %

PLMR stock opened at $131.77 on Friday. The company has a market capitalization of $3.52 billion, a P/E ratio of 29.41 and a beta of 0.33. Palomar Holdings, Inc. has a twelve month low of $74.09 and a twelve month high of $136.90. The firm has a 50 day simple moving average of $115.48 and a 200-day simple moving average of $105.59.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share 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%. On average, research analysts predict that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

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.