International Assets Investment Management LLC Buys 33,791 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

International Assets Investment Management LLC grew its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 375,455.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,800 shares of the company's stock after buying an additional 33,791 shares during the period. International Assets Investment Management LLC owned 0.14% of Palomar worth $1,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Advisor Group Holdings Inc. lifted its holdings in shares of Palomar by 34.1% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,470 shares of the company's stock valued at $94,000 after purchasing an additional 374 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Palomar by 20.7% in the 1st quarter. JPMorgan Chase & Co. now owns 11,682 shares of the company's stock valued at $747,000 after purchasing an additional 2,002 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Palomar in the 1st quarter valued at about $891,000. Citigroup Inc. lifted its holdings in shares of Palomar by 11.6% in the 1st quarter. Citigroup Inc. now owns 20,883 shares of the company's stock valued at $1,337,000 after purchasing an additional 2,165 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Palomar by 50.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,647 shares of the company's stock valued at $425,000 after purchasing an additional 2,240 shares during the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Evercore ISI boosted their target price on Palomar from $68.00 to $86.00 and gave the company an "in-line" rating in a report on Thursday, April 11th. Piper Sandler upped their price objective on Palomar from $80.00 to $89.00 and gave the company an "overweight" rating in a research note on Monday, April 1st. JPMorgan Chase & Co. downgraded Palomar from an "overweight" rating to a "neutral" rating and upped their price objective for the company from $79.00 to $85.00 in a research note on Monday, April 8th. Jefferies Financial Group raised Palomar from a "hold" rating to a "buy" rating and upped their price objective for the company from $78.00 to $88.00 in a research note on Thursday, March 14th. Finally, Truist Financial upped their price objective on Palomar from $72.00 to $88.00 and gave the company a "buy" rating in a research note on Friday, February 16th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $87.50.

Palomar Price Performance

NASDAQ PLMR traded up $1.45 on Friday, hitting $79.22. 144,752 shares of the company's stock were exchanged, compared to its average volume of 126,755. The firm's 50-day moving average price is $76.95 and its two-hundred day moving average price is $64.27. Palomar Holdings, Inc. has a fifty-two week low of $46.09 and a fifty-two week high of $86.25. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 25.39 and a beta of 0.21.

Palomar (NASDAQ:PLMR - Get Free Report) last released its earnings results on Wednesday, February 14th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.09. Palomar had a return on equity of 19.35% and a net margin of 21.07%. The company had revenue of $102.35 million for the quarter, compared to analysts' expectations of $95.07 million. On average, research analysts predict that Palomar Holdings, Inc. will post 3.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palomar news, CEO Mac Armstrong sold 7,000 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $82.62, for a total transaction of $578,340.00. Following the transaction, the chief executive officer now owns 475,388 shares in the company, valued at approximately $39,276,556.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, President Jon Christianson sold 423 shares of the company's stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $60.13, for a total value of $25,434.99. Following the sale, the president now owns 70,612 shares in the company, valued at approximately $4,245,899.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mac Armstrong sold 7,000 shares of the company's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $82.62, for a total value of $578,340.00. Following the completion of the sale, the chief executive officer now owns 475,388 shares in the company, valued at approximately $39,276,556.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,509 shares of company stock worth $2,999,157. Company insiders own 4.40% of the company's stock.

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.