Ghisallo Capital Management LLC Decreases Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Ghisallo Capital Management LLC decreased its position in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 50.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,500 shares of the company's stock after selling 42,500 shares during the period. Ghisallo Capital Management LLC owned about 0.16% of Palomar worth $4,488,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLMR. American Century Companies Inc. increased its holdings in Palomar by 36.6% in the fourth quarter. American Century Companies Inc. now owns 785,419 shares of the company's stock valued at $82,932,000 after buying an additional 210,523 shares in the last quarter. Norges Bank acquired a new stake in shares of Palomar in the fourth quarter valued at about $20,637,000. Price T Rowe Associates Inc. MD grew its position in shares of Palomar by 39.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 432,060 shares of the company's stock valued at $45,622,000 after purchasing an additional 122,057 shares during the period. Atlas Capital Advisors Inc. grew its position in shares of Palomar by 175.5% in the fourth quarter. Atlas Capital Advisors Inc. now owns 141,284 shares of the company's stock valued at $14,918,000 after purchasing an additional 90,000 shares during the period. Finally, Artemis Investment Management LLP grew its position in shares of Palomar by 18.7% in the fourth quarter. Artemis Investment Management LLP now owns 455,082 shares of the company's stock valued at $48,052,000 after purchasing an additional 71,806 shares during the period. Hedge funds and other institutional investors own 90.25% of the company's stock.

Palomar Stock Performance

Shares of Palomar stock traded up $0.66 during trading hours on Thursday, hitting $145.68. The company's stock had a trading volume of 196,068 shares, compared to its average volume of 189,293. The firm has a fifty day moving average of $136.80 and a 200-day moving average of $116.30. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 32.52 and a beta of 0.46. Palomar Holdings, Inc. has a twelve month low of $77.17 and a twelve month high of $155.87.

Palomar (NASDAQ:PLMR - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.37 earnings per share (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, sell-side analysts expect that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PLMR. Jefferies Financial Group lifted their target price on shares of Palomar from $145.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Piper Sandler lifted 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. 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. JMP Securities restated a "market perform" rating on shares of Palomar in a research report on Thursday, February 13th. Finally, 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 research report on Tuesday, April 15th. Two 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 company currently has a consensus rating of "Moderate Buy" and a consensus price target of $148.33.

Insider Buying and Selling at Palomar

In other Palomar news, CEO Mac Armstrong sold 3,202 shares of Palomar stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $153.04, for a total value of $490,034.08. Following the completion of the transaction, the chief executive officer now directly owns 70,186 shares of the company's stock, valued at $10,741,265.44. The trade was a 4.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO T Christopher Uchida sold 390 shares of Palomar stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $104.47, for a total value of $40,743.30. Following the completion of the transaction, the chief financial officer now directly owns 18,509 shares of the company's stock, valued at approximately $1,933,635.23. This represents a 2.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,519 shares of company stock valued at $2,784,657 in the last three months. 3.70% of the stock is owned by corporate insiders.

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.