Louisiana State Employees Retirement System Purchases Shares of 12,400 Palomar Holdings, Inc. (NASDAQ:PLMR)

Louisiana State Employees Retirement System purchased a new position in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,400 shares of the company's stock, valued at approximately $688,000. Louisiana State Employees Retirement System owned 0.05% of Palomar as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of PLMR. SG Americas Securities LLC acquired a new stake in shares of Palomar during the third quarter valued at about $346,000. Handelsbanken Fonder AB raised its stake in shares of Palomar by 5.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 4,210 shares of the company's stock valued at $214,000 after purchasing an additional 210 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Palomar by 17.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,443 shares of the company's stock valued at $378,000 after purchasing an additional 1,116 shares during the period. Victory Capital Management Inc. increased its stake in Palomar by 32.3% in the 3rd quarter. Victory Capital Management Inc. now owns 9,747 shares of the company's stock worth $495,000 after acquiring an additional 2,379 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in Palomar by 0.9% in the 3rd quarter. Los Angeles Capital Management LLC now owns 27,529 shares of the company's stock worth $1,397,000 after acquiring an additional 256 shares during the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Palomar Trading Down 2.0 %

NASDAQ:PLMR traded down $1.65 during trading hours on Friday, reaching $79.50. 229,756 shares of the company traded hands, compared to its average volume of 129,384. The business's 50-day moving average price is $78.41 and its two-hundred day moving average price is $65.33. The stock has a market capitalization of $1.98 billion, a P/E ratio of 25.48 and a beta of 0.21. Palomar Holdings, Inc. has a 1 year low of $46.09 and a 1 year high of $86.25.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $0.94 earnings per share 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 firm had revenue of $102.35 million during the quarter, compared to analysts' expectations of $95.07 million. As a group, equities analysts anticipate that Palomar Holdings, Inc. will post 3.84 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on PLMR. JPMorgan Chase & Co. cut Palomar from an "overweight" rating to a "neutral" rating and increased their target price for the company from $79.00 to $85.00 in a report on Monday, April 8th. Evercore ISI increased their price objective on Palomar from $68.00 to $86.00 and gave the stock an "in-line" rating in a report on Thursday, April 11th. Jefferies Financial Group upgraded Palomar from a "hold" rating to a "buy" rating and raised their target price for the company from $78.00 to $88.00 in a research note on Thursday, March 14th. Truist Financial raised their target price on Palomar from $72.00 to $88.00 and gave the company a "buy" rating in a research note on Friday, February 16th. Finally, JMP Securities restated a "market perform" rating on shares of Palomar in a research note on Monday, April 15th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $87.50.

Insider Buying and Selling

In other Palomar news, CFO T Christopher Uchida sold 750 shares of the business's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $74.36, for a total transaction of $55,770.00. Following the completion of the sale, the chief financial officer now owns 29,844 shares of the company's stock, valued at $2,219,199.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Mac Armstrong sold 1,541 shares of the business's stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $59.19, for a total value of $91,211.79. Following the sale, the chief executive officer now directly owns 46,842 shares in the company, valued at $2,772,577.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO T Christopher Uchida sold 750 shares of the business's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $74.36, for a total value of $55,770.00. Following the completion of the sale, the chief financial officer now owns 29,844 shares in the company, valued at $2,219,199.84. The disclosure for this sale can be found here. Insiders sold 44,784 shares of company stock valued at $3,455,642 over the last 90 days. Company insiders own 4.30% of the company's stock.

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.