Alliancebernstein L.P. Buys 3,955 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Alliancebernstein L.P. lifted its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 15.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,157 shares of the company's stock after acquiring an additional 3,955 shares during the period. Alliancebernstein L.P. owned approximately 0.11% of Palomar worth $3,184,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC grew its holdings in Palomar by 39.5% in the third quarter. FMR LLC now owns 2,123 shares of the company's stock worth $201,000 after purchasing an additional 601 shares during the period. Stifel Financial Corp grew its stake in shares of Palomar by 78.6% in the 3rd quarter. Stifel Financial Corp now owns 15,734 shares of the company's stock valued at $1,490,000 after buying an additional 6,926 shares during the period. Barclays PLC increased its position in Palomar by 112.6% in the 3rd quarter. Barclays PLC now owns 71,803 shares of the company's stock valued at $6,798,000 after buying an additional 38,027 shares in the last quarter. Geode Capital Management LLC raised its stake in Palomar by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 600,092 shares of the company's stock worth $56,822,000 after buying an additional 18,335 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Palomar by 9.5% in the third quarter. JPMorgan Chase & Co. now owns 128,165 shares of the company's stock worth $12,133,000 after acquiring an additional 11,140 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other 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 value 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO T Christopher Uchida sold 394 shares of the business's stock in a transaction that occurred on Sunday, January 26th. The shares were sold at an average price of $101.69, for a total value of $40,065.86. Following the completion of the sale, the chief financial officer now owns 16,943 shares of the company's stock, valued at $1,722,933.67. The trade was a 2.27 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,645 shares of company stock worth $3,787,579. Corporate insiders own 4.30% of the company's stock.

Palomar Trading Down 0.4 %

Shares of PLMR stock traded down $0.65 during trading on Friday, hitting $149.79. The company's stock had a trading volume of 178,223 shares, compared to its average volume of 184,777. The business has a fifty day moving average of $132.55 and a 200-day moving average of $113.68. The company has a market cap of $4.00 billion, a PE ratio of 33.44 and a beta of 0.46. Palomar Holdings, Inc. has a 52 week low of $77.17 and a 52 week high of $155.87.

Palomar (NASDAQ:PLMR - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $1.37 EPS for the quarter, topping 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, research analysts predict that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Analysts Set New Price Targets

PLMR has been the topic of a number of research reports. Piper Sandler upped their target price on Palomar from $133.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods dropped their price objective on shares of Palomar from $155.00 to $145.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. JMP Securities reissued a "market perform" rating on shares of Palomar in a research report on Thursday, February 13th. Jefferies Financial Group upped their target price on shares of Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Finally, Truist Financial lifted their price target on Palomar from $150.00 to $178.00 and gave the company a "buy" rating in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $148.33.

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.