Louisiana State Employees Retirement System Grows Stock Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Louisiana State Employees Retirement System raised its stake in Palomar Holdings, Inc. (NASDAQ:PLMR) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,800 shares of the company’s stock after acquiring an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Palomar were worth $1,352,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. purchased a new position in Palomar in the 3rd quarter worth approximately $25,000. Farther Finance Advisors LLC boosted its position in shares of 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 last quarter. Covestor Ltd raised its position 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 buying an additional 181 shares during the last quarter. KBC Group NV lifted its stake in Palomar by 44.9% during the 4th quarter. KBC Group NV now owns 1,045 shares of the company’s stock valued at $110,000 after acquiring an additional 324 shares during the period. Finally, Avanza Fonder AB purchased a new stake in shares of Palomar during the 4th quarter valued at about $143,000. Institutional investors own 90.25% of the company’s stock.

Palomar Stock Up 1.5 %

PLMR stock opened at $126.92 on Monday. The firm has a 50-day simple moving average of $107.62 and a 200-day simple moving average of $101.07. The stock has a market capitalization of $3.36 billion, a P/E ratio of 30.15 and a beta of 0.38. Palomar Holdings, Inc. has a 52 week low of $66.81 and a 52 week high of $128.38.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.13. Palomar had a net margin of 21.55% and a return on equity of 19.65%. On average, analysts expect that Palomar Holdings, Inc. will post 4.33 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on PLMR. JPMorgan Chase & Co. raised their target price on shares of Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Piper Sandler increased their target price on shares of Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday. Keefe, Bruyette & Woods raised their price target on Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a report on Friday, December 6th. JMP Securities reissued a “market perform” rating on shares of Palomar in a report on Thursday. Finally, Truist Financial increased their price target on Palomar from $112.00 to $150.00 and gave the company a “buy” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Palomar presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.67.

Insider Buying and Selling

In other news, CFO T Christopher Uchida sold 394 shares of the business’s stock in a transaction that occurred on Sunday, January 26th. The stock was sold at an average price of $101.69, for a total value of $40,065.86. Following the transaction, the chief financial officer now owns 16,943 shares of the company’s stock, valued at approximately $1,722,933.67. The trade was a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Jon Christianson sold 356 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $104.51, for a total transaction of $37,205.56. Following the completion of the sale, the president now owns 57,259 shares of the company’s stock, valued at approximately $5,984,138.09. The trade was a 0.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,933 shares of company stock worth $4,030,156. Corporate 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.