Lighthouse Investment Partners LLC Acquires New Shares in Palomar Holdings, Inc. (NASDAQ:PLMR)

Lighthouse Investment Partners LLC bought a new position in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 32,165 shares of the company's stock, valued at approximately $3,396,000. Lighthouse Investment Partners LLC owned 0.12% of Palomar at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Blue Trust Inc. bought a new position in shares of Palomar during the 4th quarter worth about $26,000. Smartleaf Asset Management LLC raised its position in Palomar by 536.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 414 shares of the company's stock worth $43,000 after purchasing an additional 349 shares in the last quarter. Jones Financial Companies Lllp lifted 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 boosted its holdings in Palomar by 21.8% during the fourth quarter. Farther Finance Advisors LLC now owns 554 shares of the company's stock valued at $58,000 after purchasing an additional 99 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Palomar by 44.9% in the 4th 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. Institutional investors and hedge funds own 90.25% of the company's stock.

Insider Transactions at Palomar

In other news, CFO T Christopher Uchida sold 1,000 shares of the company's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the sale, the chief financial officer now directly owns 10,172 shares of the company's stock, valued at $1,413,908. This represents a 8.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mac Armstrong sold 5,000 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $145.41, for a total transaction of $727,050.00. Following the completion of the sale, the chief executive officer now owns 397,388 shares in the company, valued at $57,784,189.08. This represents a 1.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,254 shares of company stock worth $2,443,484 in the last three months. Insiders own 3.70% of the company's stock.

Palomar Trading Up 1.5%

Shares of NASDAQ:PLMR traded up $2.33 during trading on Friday, hitting $159.22. 165,907 shares of the company's stock were exchanged, compared to its average volume of 198,165. The firm has a market cap of $4.26 billion, a P/E ratio of 35.54 and a beta of 0.51. The firm has a 50-day moving average price of $143.32 and a two-hundred day moving average price of $120.84. Palomar Holdings, Inc. has a 1-year low of $77.28 and a 1-year high of $165.00.

Palomar (NASDAQ:PLMR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.26. The firm had revenue of $174.63 million during 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 in the previous year, the business earned $1.09 EPS. As a group, research analysts predict that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PLMR. Truist Financial boosted their price target on Palomar from $150.00 to $178.00 and gave the company a "buy" rating in a research note on Tuesday, April 15th. Piper Sandler boosted their target price on shares of Palomar from $133.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods lowered their target price on shares of Palomar from $155.00 to $145.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Jefferies Financial Group raised their price objective on shares of Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. raised Palomar from a "neutral" rating to an "overweight" rating and lifted their price target for the company 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 given a buy rating to the company's stock. Based on data from MarketBeat, Palomar has an average rating of "Moderate Buy" and an average price target 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.