Palomar Holdings, Inc. (NASDAQ:PLMR) Stake Raised by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 30.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,907 shares of the company's stock after buying an additional 14,965 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.25% of Palomar worth $6,854,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PLMR. Principal Financial Group Inc. increased its stake in shares of Palomar by 5.6% during the fourth quarter. Principal Financial Group Inc. now owns 147,540 shares of the company's stock valued at $15,579,000 after buying an additional 7,875 shares during the period. Atlas Capital Advisors Inc. raised its position in Palomar by 175.5% during the 4th quarter. Atlas Capital Advisors Inc. now owns 141,284 shares of the company's stock worth $14,918,000 after buying an additional 90,000 shares during the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of Palomar by 2.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 5,837 shares of the company's stock valued at $616,000 after buying an additional 145 shares during the period. Jump Financial LLC boosted its holdings in Palomar by 146.1% during the fourth quarter. Jump Financial LLC now owns 6,885 shares of the company's stock worth $727,000 after buying an additional 4,087 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Palomar by 28.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 40,688 shares of the company's stock valued at $4,296,000 after buying an additional 9,036 shares in the last quarter. Institutional investors own 90.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PLMR. 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 note on Friday. JMP Securities restated a "market perform" rating on shares of Palomar in a research note on Thursday, February 13th. Evercore ISI upped their target price on shares of Palomar from $163.00 to $168.00 and gave the company an "in-line" rating in a report on Friday. Truist Financial lifted their price objective on shares of Palomar from $150.00 to $178.00 and gave the company a "buy" rating in a research note on Tuesday, April 15th. Finally, JPMorgan Chase & Co. upgraded shares of Palomar from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $115.00 to $150.00 in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $164.33.

Palomar Trading Down 0.3%

Shares of NASDAQ PLMR traded down $0.57 during trading on Tuesday, reaching $175.10. The company had a trading volume of 264,405 shares, compared to its average volume of 202,939. The stock has a 50-day moving average price of $151.03 and a two-hundred day moving average price of $126.85. The stock has a market capitalization of $4.68 billion, a PE ratio of 39.08 and a beta of 0.51. Palomar Holdings, Inc. has a twelve month low of $77.28 and a twelve month high of $176.31.

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

Insider Activity at Palomar

In other Palomar news, CFO T Christopher Uchida sold 500 shares of the firm's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $153.04, for a total value of $76,520.00. Following the sale, the chief financial officer now directly owns 7,672 shares in the company, valued at approximately $1,174,122.88. This trade represents a 6.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mac Armstrong sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $161.96, for a total value of $809,800.00. Following the transaction, the chief executive officer now owns 392,388 shares of the company's stock, valued at approximately $63,551,160.48. This represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,202 shares of company stock worth $3,265,129. 3.70% of the stock is currently owned by corporate insiders.

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.