Freedom Investment Management Inc. Acquires Shares of 2,384 Palomar Holdings, Inc. (NASDAQ:PLMR)

Freedom Investment Management Inc. purchased a new position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,384 shares of the company's stock, valued at approximately $252,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. acquired a new position in Palomar during the fourth quarter worth $26,000. Smartleaf Asset Management LLC boosted its holdings in Palomar by 536.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 414 shares of the company's stock valued at $43,000 after acquiring an additional 349 shares during the period. Jones Financial Companies Lllp increased its stake in Palomar by 63.2% during the fourth quarter. Jones Financial Companies Lllp now owns 493 shares of the company's stock worth $52,000 after purchasing an additional 191 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Palomar by 21.8% during 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 boosted its stake in shares of Palomar by 44.9% in the fourth quarter. KBC Group NV now owns 1,045 shares of the company's stock valued at $110,000 after purchasing an additional 324 shares during the period. 90.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Palomar

In related news, insider Jonathan Knutzen sold 282 shares of the company's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $104.46, for a total value of $29,457.72. Following the completion of the sale, the insider now owns 20,098 shares in the company, valued at $2,099,437.08. This represents a 1.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Jon Christianson sold 478 shares of the firm's stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $108.34, for a total transaction of $51,786.52. Following the transaction, the president now directly owns 56,619 shares in the company, valued at $6,134,102.46. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,342 shares of company stock worth $3,198,841. 3.70% of the stock is owned by insiders.

Palomar Trading Up 0.3 %

Shares of NASDAQ PLMR traded up $0.52 during mid-day trading on Monday, reaching $148.00. The company had a trading volume of 49,636 shares, compared to its average volume of 187,387. The firm has a 50 day simple moving average of $135.21 and a two-hundred day simple moving average of $115.51. Palomar Holdings, Inc. has a 52-week low of $77.17 and a 52-week high of $155.87. The stock has a market cap of $3.96 billion, a P/E ratio of 33.03 and a beta of 0.46.

Palomar (NASDAQ:PLMR - Get Free Report) last posted 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%. On average, equities analysts expect that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Analysts Set New Price Targets

PLMR has been the subject of several recent research reports. JMP Securities reissued a "market perform" rating on shares of Palomar in a research report on Thursday, February 13th. Piper Sandler increased their price target on Palomar from $133.00 to $150.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods cut their target price 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. Truist Financial boosted their price target on shares of Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a report on Tuesday, April 15th. Finally, Jefferies Financial Group boosted their target price on shares of Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $148.33.

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.