Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC lifted its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 27,543.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,794 shares of the company's stock after purchasing an additional 99,433 shares during the period. GAMMA Investing LLC owned about 0.37% of Palomar worth $13,680,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PLMR. American Century Companies Inc. grew its stake in shares of Palomar by 36.6% in the 4th quarter. American Century Companies Inc. now owns 785,419 shares of the company's stock worth $82,932,000 after purchasing an additional 210,523 shares during the last quarter. Norges Bank acquired a new position in shares of Palomar in the 4th quarter worth approximately $20,637,000. Price T Rowe Associates Inc. MD grew its stake in shares of Palomar by 39.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 432,060 shares of the company's stock worth $45,622,000 after purchasing an additional 122,057 shares during the last quarter. Freestone Grove Partners LP purchased a new position in shares of Palomar in the fourth quarter worth approximately $11,774,000. Finally, Janus Henderson Group PLC increased its position in shares of Palomar by 211.8% in the fourth quarter. Janus Henderson Group PLC now owns 140,384 shares of the company's stock worth $14,830,000 after acquiring an additional 95,359 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.

Insider Buying and Selling at Palomar

In other Palomar news, CFO T Christopher Uchida sold 500 shares of Palomar stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $159.77, for a total value of $79,885.00. Following the completion of the sale, the chief financial officer now directly owns 7,920 shares in the company, valued at $1,265,378.40. The trade was a 5.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mac Armstrong sold 5,000 shares of Palomar stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $161.96, for a total transaction of $809,800.00. Following the completion of the sale, the chief executive officer now owns 392,388 shares of the company's stock, valued at $63,551,160.48. This trade represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,202 shares of company stock worth $3,265,129 over the last ninety days. 3.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on PLMR. JPMorgan Chase & Co. raised shares of Palomar from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $115.00 to $150.00 in a research report on Tuesday, April 8th. Jefferies Financial Group lifted their target price on shares of Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Keefe, Bruyette & Woods dropped their target price on shares of Palomar from $155.00 to $145.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Piper Sandler lifted their target price on shares of Palomar from $171.00 to $177.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Finally, Truist Financial lifted their target price on shares of Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $164.33.

Palomar Stock Performance

PLMR stock opened at $166.00 on Friday. The stock has a market cap of $4.44 billion, a P/E ratio of 37.05 and a beta of 0.51. The firm has a 50 day simple moving average of $153.67 and a 200 day simple moving average of $128.31. Palomar Holdings, Inc. has a 52 week low of $77.28 and a 52 week high of $175.85.

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

Palomar Company 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.

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