Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Purchased by Janus Henderson Group PLC

Janus Henderson Group PLC grew its stake in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 211.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 140,384 shares of the company's stock after buying an additional 95,359 shares during the period. Janus Henderson Group PLC owned 0.53% of Palomar worth $14,830,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Blue Trust Inc. purchased a new stake in Palomar in the fourth quarter valued at $26,000. Smartleaf Asset Management LLC lifted its holdings in shares of Palomar by 536.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 414 shares of the company's stock valued at $43,000 after purchasing an additional 349 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Palomar by 63.2% in the 4th quarter. Jones Financial Companies Lllp now owns 493 shares of the company's stock valued at $52,000 after purchasing an additional 191 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Palomar by 21.8% in the 4th quarter. Farther Finance Advisors LLC now owns 554 shares of the company's stock valued at $58,000 after purchasing an additional 99 shares during the period. Finally, KBC Group NV grew its stake in Palomar by 44.9% during the 4th quarter. KBC Group NV now owns 1,045 shares of the company's stock worth $110,000 after buying an additional 324 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.

Insider Activity

In other Palomar news, CFO T Christopher Uchida sold 1,000 shares of the firm's stock in a transaction on 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 owns 10,172 shares of the company's stock, valued at approximately $1,413,908. This trade represents a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mac Armstrong sold 5,000 shares of the company's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $129.72, for a total transaction of $648,600.00. Following the transaction, the chief executive officer now directly owns 402,388 shares in the company, valued at approximately $52,197,771.36. This trade represents a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,202 shares of company stock valued at $3,265,129 in the last three months. 3.70% of the stock is currently owned by company insiders.

Palomar Price Performance

Shares of PLMR stock traded down $2.63 during mid-day trading on Thursday, hitting $158.91. The stock had a trading volume of 143,944 shares, compared to its average volume of 198,927. Palomar Holdings, Inc. has a fifty-two week low of $77.28 and a fifty-two week high of $165.00. The company's 50-day simple moving average is $145.73 and its 200-day simple moving average is $122.74. The firm has a market cap of $4.25 billion, a PE ratio of 35.46 and a beta of 0.51.

Palomar (NASDAQ:PLMR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $1.87 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 firm had revenue of $174.63 million during the quarter, compared to the consensus estimate of $161.97 million. During the same quarter last year, the firm earned $1.09 earnings per share. On average, analysts expect that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PLMR shares. Truist Financial increased their price objective on Palomar from $150.00 to $178.00 and gave the company a "buy" rating in a report on Tuesday, April 15th. Keefe, Bruyette & Woods decreased their price target 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 restated a "market perform" rating on shares of Palomar in a research note on Thursday, February 13th. Piper Sandler increased their target price on shares of Palomar from $133.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Finally, Jefferies Financial Group raised their price target on Palomar from $145.00 to $168.00 and gave the stock 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average 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.