Integrated Quantitative Investments LLC Makes New Investment in Palomar Holdings, Inc. (NASDAQ:PLMR)

Integrated Quantitative Investments LLC bought a new position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,321 shares of the company’s stock, valued at approximately $1,090,000.

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

Analyst Upgrades and Downgrades

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

Palomar Trading Up 1.0 %

NASDAQ PLMR opened at $143.10 on Friday. Palomar Holdings, Inc. has a twelve month low of $74.09 and a twelve month high of $143.77. The business’s 50-day moving average price is $123.54 and its 200 day moving average price is $109.31. The company has a market capitalization of $3.82 billion, a PE ratio of 31.94 and a beta of 0.46.

Palomar (NASDAQ:PLMR) last released its 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 net margin of 21.23% and a return on equity of 19.76%. Equities analysts predict that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Insider Transactions at Palomar

In other Palomar news, CEO Mac Armstrong sold 7,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $109.76, for a total transaction of $768,320.00. Following the completion of the sale, the chief executive officer now owns 412,388 shares of the company’s stock, valued at approximately $45,263,706.88. The trade was a 1.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO T Christopher Uchida sold 1,000 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the transaction, the chief financial officer now owns 10,172 shares in the company, valued at approximately $1,413,908. This trade represents a 8.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,097 shares of company stock worth $3,271,422 in the last ninety days. Insiders own 4.30% of the company’s stock.

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.