Numerai GP LLC Sells 2,607 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Numerai GP LLC decreased its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 23.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 8,611 shares of the company's stock after selling 2,607 shares during the period. Numerai GP LLC's holdings in Palomar were worth $909,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Palomar by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 2,574,923 shares of the company's stock worth $271,886,000 after acquiring an additional 53,123 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Palomar by 36.6% during the 4th quarter. American Century Companies Inc. now owns 785,419 shares of the company's stock valued at $82,932,000 after purchasing an additional 210,523 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Palomar by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 618,840 shares of the company's stock valued at $65,358,000 after purchasing an additional 18,748 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Palomar by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 561,740 shares of the company's stock worth $59,313,000 after purchasing an additional 17,320 shares during the period. Finally, Artemis Investment Management LLP lifted its stake in Palomar by 18.7% in the fourth quarter. Artemis Investment Management LLP now owns 455,082 shares of the company's stock worth $48,052,000 after purchasing an additional 71,806 shares during the last quarter. Institutional investors own 90.25% of the company's stock.

Palomar Stock Down 2.0%

Shares of PLMR traded down $3.17 during mid-day trading on Tuesday, hitting $158.00. 32,849 shares of the company's stock traded hands, compared to its average volume of 253,310. The firm has a market capitalization of $4.23 billion, a P/E ratio of 35.22 and a beta of 0.51. The business's 50-day moving average price is $144.50 and its 200-day moving average price is $122.22. 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 issued its quarterly earnings data on Monday, May 5th. The company reported $1.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.26. Palomar had a net margin of 21.23% and a return on equity of 19.76%. The business had revenue of $174.63 million for the quarter, compared to the consensus estimate of $161.97 million. During the same period in the previous year, the firm earned $1.09 EPS. Sell-side analysts anticipate that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PLMR has been the topic of a number of recent research reports. JMP Securities reaffirmed a "market perform" rating on shares of Palomar in a research note on Thursday, February 13th. Keefe, Bruyette & Woods decreased their price target on Palomar from $155.00 to $145.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Piper Sandler increased their price objective on Palomar from $133.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Truist Financial lifted their target price on shares of Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. Finally, Jefferies Financial Group upped their price target on shares of Palomar from $145.00 to $168.00 and gave the company a "buy" rating in a report on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Palomar presently has a consensus rating of "Moderate Buy" and an average price target of $148.33.

Insider Activity at Palomar

In other news, CFO T Christopher Uchida sold 1,000 shares of the stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $144.00, for a total value of $144,000.00. Following the completion of the transaction, the chief financial officer now owns 9,172 shares of the company's stock, valued at approximately $1,320,768. This represents a 9.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mac Armstrong sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $129.72, for a total value of $648,600.00. Following the completion of the transaction, the chief executive officer now owns 402,388 shares of the company's stock, valued at approximately $52,197,771.36. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,702 shares of company stock worth $2,375,444 over the last 90 days. 3.70% of the stock is owned by company insiders.

About Palomar

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.