Price T Rowe Associates Inc. MD Acquires 122,057 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Price T Rowe Associates Inc. MD increased its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 39.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 432,060 shares of the company's stock after buying an additional 122,057 shares during the quarter. Price T Rowe Associates Inc. MD owned 1.63% of Palomar worth $45,622,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Dakota Wealth Management increased its holdings in shares of Palomar by 3.1% in the 4th quarter. Dakota Wealth Management now owns 3,070 shares of the company's stock valued at $324,000 after purchasing an additional 92 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Palomar by 21.8% during the 4th quarter. Farther Finance Advisors LLC now owns 554 shares of the company's stock valued at $58,000 after buying an additional 99 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Palomar by 0.7% in the 4th quarter. State of Alaska Department of Revenue now owns 15,042 shares of the company's stock valued at $1,588,000 after buying an additional 100 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in Palomar by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company's stock valued at $1,352,000 after acquiring an additional 100 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its holdings in shares of Palomar by 2.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,837 shares of the company's stock valued at $616,000 after purchasing an additional 145 shares in the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palomar

In other Palomar news, CFO T Christopher Uchida sold 1,000 shares of the business's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $139.00, for a total value of $139,000.00. Following the transaction, the chief financial officer now directly owns 10,172 shares in the company, valued at $1,413,908. The trade was a 8.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mac Armstrong sold 5,000 shares of the company's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $129.72, for a total transaction of $648,600.00. Following the sale, the chief executive officer now directly owns 402,388 shares in the company, valued at $52,197,771.36. This represents a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,254 shares of company stock valued at $2,443,484. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on PLMR. Jefferies Financial Group increased their target price on shares of Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. 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 report on Tuesday, April 15th. JPMorgan Chase & Co. upgraded shares of Palomar from a "neutral" rating to an "overweight" rating and upped their price target for the company from $115.00 to $150.00 in a report on Tuesday, April 8th. Keefe, Bruyette & Woods dropped their price objective on Palomar from $155.00 to $145.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, Piper Sandler raised their target price on Palomar from $133.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $148.33.

Palomar Stock Up 1.4 %

Palomar stock traded up $2.18 during trading hours on Monday, hitting $153.99. The stock had a trading volume of 60,522 shares, compared to its average volume of 190,421. Palomar Holdings, Inc. has a fifty-two week low of $77.28 and a fifty-two week high of $155.87. The company has a market cap of $4.12 billion, a PE ratio of 34.38 and a beta of 0.51. The company has a 50-day moving average of $137.79 and a two-hundred day moving average of $117.26.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. As a group, analysts forecast that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

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.