Palomar Holdings, Inc. (NASDAQ:PLMR) Stock Holdings Lifted by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 9.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,165 shares of the company’s stock after acquiring an additional 11,140 shares during the quarter. JPMorgan Chase & Co. owned 0.48% of Palomar worth $12,133,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in Palomar during the 3rd quarter valued at $25,000. GAMMA Investing LLC grew its holdings in shares of Palomar by 48.6% during the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after buying an additional 125 shares in the last quarter. Farther Finance Advisors LLC raised its position in Palomar by 490.9% during the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $43,000 after buying an additional 378 shares during the period. Covestor Ltd lifted its stake in Palomar by 20.2% in the 3rd quarter. Covestor Ltd now owns 1,076 shares of the company’s stock worth $102,000 after acquiring an additional 181 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in Palomar by 152.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,779 shares of the company’s stock worth $143,000 after acquiring an additional 1,073 shares during the period. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Insider Activity

In related news, CEO Mac Armstrong sold 3,185 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $98.21, for a total value of $312,798.85. Following the transaction, the chief executive officer now directly owns 50,312 shares in the company, valued at approximately $4,941,141.52. This trade represents a 5.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Jon Christianson sold 819 shares of Palomar stock in a transaction on Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total transaction of $86,699.34. Following the completion of the transaction, the president now owns 55,126 shares in the company, valued at $5,835,638.36. This trade represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,909 shares of company stock valued at $3,242,655. Insiders own 4.30% of the company’s stock.

Palomar Stock Down 4.1 %

PLMR stock opened at $101.51 on Friday. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 24.11 and a beta of 0.38. The firm has a 50 day moving average of $105.26 and a two-hundred day moving average of $96.95. Palomar Holdings, Inc. has a 12 month low of $56.67 and a 12 month high of $112.90.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.20. Palomar had a net margin of 21.55% and a return on equity of 19.65%. The firm had revenue of $148.50 million during the quarter, compared to analysts’ expectations of $134.72 million. During the same period in the prior year, the company posted $0.80 earnings per share. On average, research analysts expect that Palomar Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PLMR shares. JPMorgan Chase & Co. upped their target price on Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Jefferies Financial Group upped their price objective on shares of Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their target price on shares of Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Piper Sandler upped their price target on shares of Palomar from $119.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

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.