ProShare Advisors LLC Buys 2,624 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

ProShare Advisors LLC lifted its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 51.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,765 shares of the company's stock after purchasing an additional 2,624 shares during the period. ProShare Advisors LLC's holdings in Palomar were worth $820,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PLMR. Barclays PLC raised its stake in Palomar by 112.6% during the 3rd quarter. Barclays PLC now owns 71,803 shares of the company's stock worth $6,798,000 after buying an additional 38,027 shares during the period. Crossmark Global Holdings Inc. acquired a new position in Palomar during the 4th quarter worth approximately $206,000. Dakota Wealth Management raised its stake in Palomar by 3.1% during the 4th quarter. Dakota Wealth Management now owns 3,070 shares of the company's stock worth $324,000 after buying an additional 92 shares during the period. Exchange Traded Concepts LLC raised its stake in Palomar by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 7,919 shares of the company's stock worth $836,000 after buying an additional 200 shares during the period. Finally, KBC Group NV raised its stake in 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 during the period. Institutional investors own 90.25% of the company's stock.

Insider Activity

In other Palomar news, CFO T Christopher Uchida sold 1,000 shares of the stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $144.00, for a total transaction of $144,000.00. Following the completion of the transaction, the chief financial officer now directly owns 9,172 shares of the company's stock, valued at approximately $1,320,768. This represents a 9.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mac Armstrong sold 5,000 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $161.96, for a total value of $809,800.00. Following the transaction, the chief executive officer now directly owns 392,388 shares of the company's stock, valued at approximately $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 a total of 22,202 shares of company stock valued at $3,265,129 over the last three months. Corporate insiders own 3.70% of the company's stock.

Analyst Ratings Changes

PLMR has been the topic of a number of research reports. Keefe, Bruyette & Woods dropped their price target on Palomar from $155.00 to $145.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. JPMorgan Chase & Co. raised Palomar from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $115.00 to $150.00 in a research note on Tuesday, April 8th. Truist Financial increased their price objective on Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. JMP Securities reissued a "market perform" rating on shares of Palomar in a research note on Thursday, February 13th. Finally, Piper Sandler increased their price objective on Palomar from $133.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Palomar presently has a consensus rating of "Moderate Buy" and an average price target of $148.33.

Palomar Stock Performance

Shares of Palomar stock traded up $0.83 on Thursday, hitting $163.28. The company had a trading volume of 19,778 shares, compared to its average volume of 200,025. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 36.45 and a beta of 0.51. Palomar Holdings, Inc. has a 1 year low of $77.28 and a 1 year high of $165.00. The stock has a 50 day moving average of $148.90 and a 200-day moving average of $125.10.

Palomar (NASDAQ:PLMR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.26. The company had revenue of $174.63 million during 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 period in the prior year, the company posted $1.09 earnings per share. Equities analysts anticipate 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.