Axa S.A. Decreases Stake in Palomar Holdings, Inc. (NASDAQ:PLMR)

AXA S.A. lowered its stake in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 15.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 247,882 shares of the company's stock after selling 43,834 shares during the period. AXA S.A. owned approximately 0.94% of Palomar worth $26,174,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Blue Trust Inc. bought a new stake in shares of Palomar during the 4th 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 valued at $43,000 after acquiring an additional 349 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Palomar by 63.2% in the fourth quarter. Jones Financial Companies Lllp now owns 493 shares of the company's stock valued at $52,000 after purchasing an additional 191 shares during the period. Farther Finance Advisors LLC grew its stake in Palomar by 21.8% in the fourth quarter. Farther Finance Advisors LLC now owns 554 shares of the company's stock worth $58,000 after purchasing an additional 99 shares in the last quarter. Finally, KBC Group NV grew its position in shares of Palomar by 44.9% during the 4th quarter. KBC Group NV now owns 1,045 shares of the company's stock worth $110,000 after buying an additional 324 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on PLMR. Truist Financial boosted their target price on shares of Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a report on Tuesday, April 15th. Piper Sandler increased their target price on shares of Palomar from $133.00 to $150.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. JMP Securities reaffirmed a "market perform" rating on shares of Palomar in a research report on Thursday, February 13th. JPMorgan Chase & Co. upgraded Palomar from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $115.00 to $150.00 in a research note on Tuesday, April 8th. Finally, Jefferies Financial Group raised their target price on Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $148.33.

Insider Buying and Selling

In other news, CEO Mac Armstrong sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $129.72, for a total transaction of $648,600.00. Following the completion of the sale, the chief executive officer now owns 402,388 shares in the company, valued at $52,197,771.36. This trade represents a 1.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO T Christopher Uchida sold 552 shares of Palomar stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $123.26, for a total transaction of $68,039.52. Following the completion of the sale, the chief financial officer now owns 15,683 shares of the company's stock, valued at $1,933,086.58. This trade represents a 3.40 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,254 shares of company stock worth $2,443,484. 3.70% of the stock is owned by corporate insiders.

Palomar Trading Down 0.0 %

Shares of Palomar stock traded down $0.08 during trading hours on Friday, reaching $159.93. The stock had a trading volume of 220,420 shares, compared to its average volume of 195,626. Palomar Holdings, Inc. has a twelve month low of $77.28 and a twelve month high of $163.78. The stock's 50 day moving average is $140.34 and its 200 day moving average is $118.65. The firm has a market capitalization of $4.28 billion, a PE ratio of 35.70 and a beta of 0.51.

Palomar (NASDAQ:PLMR - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $1.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.26. The firm had revenue of $174.63 million for the quarter, compared to analyst estimates of $161.97 million. Palomar had a return on equity of 19.76% and a net margin of 21.23%. During the same quarter last year, the firm posted $1.09 EPS. As a group, sell-side analysts predict that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

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.