Jump Financial LLC Raises Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Jump Financial LLC raised its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 146.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,885 shares of the company's stock after purchasing an additional 4,087 shares during the quarter. Jump Financial LLC's holdings in Palomar were worth $727,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dakota Wealth Management increased its stake in shares of Palomar by 3.1% in the fourth quarter. Dakota Wealth Management now owns 3,070 shares of the company's stock worth $324,000 after purchasing an additional 92 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Palomar by 21.8% in 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. State of Alaska Department of Revenue increased its stake in shares of Palomar by 0.7% in the fourth quarter. State of Alaska Department of Revenue now owns 15,042 shares of the company's stock worth $1,588,000 after purchasing an additional 100 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Palomar by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company's stock worth $1,352,000 after purchasing an additional 100 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its stake in shares of Palomar by 2.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 5,837 shares of the company's stock worth $616,000 after purchasing an additional 145 shares in the last quarter. Institutional investors own 90.25% of the company's stock.

Insider Activity

In other news, insider Angela L. Grant sold 394 shares of the company's stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $108.34, for a total value of $42,685.96. Following the completion of the sale, the insider now directly owns 4,485 shares in the company, valued at $485,904.90. This represents a 8.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Mac Armstrong sold 3,202 shares of the company's stock in a transaction on 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 sale, the chief executive officer now owns 70,186 shares of the company's stock, valued at $10,741,265.44. This trade represents a 4.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,342 shares of company stock worth $3,198,841. Insiders own 3.70% of the company's stock.

Palomar Stock Performance

NASDAQ:PLMR traded up $1.86 during midday trading on Monday, reaching $149.34. 254,290 shares of the stock traded hands, compared to its average volume of 188,177. The company has a fifty day moving average of $135.74 and a 200 day moving average of $115.88. The stock has a market capitalization of $3.99 billion, a P/E ratio of 33.33 and a beta of 0.46. Palomar Holdings, Inc. has a 12 month low of $77.17 and a 12 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, beating analysts' consensus estimates of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. On average, analysts predict that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Palomar from $155.00 to $145.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. JMP Securities reiterated a "market perform" rating on shares of Palomar in a research report on Thursday, February 13th. Truist Financial lifted their target price on shares of Palomar from $150.00 to $178.00 and gave the company a "buy" rating in a research report on Tuesday, April 15th. 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. Finally, JPMorgan Chase & Co. upgraded shares of Palomar from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $115.00 to $150.00 in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $148.33.

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.