Price T Rowe Associates Inc. MD Has $45.62 Million Stake in 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 the company in its most recent Form 13F filing with the SEC. The firm owned 432,060 shares of the company's stock after acquiring an additional 122,057 shares during the quarter. Price T Rowe Associates Inc. MD owned about 1.63% of Palomar worth $45,622,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of PLMR. Barclays PLC raised its position in shares of Palomar by 112.6% in the third quarter. Barclays PLC now owns 71,803 shares of the company's stock valued at $6,798,000 after buying an additional 38,027 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Palomar by 9.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 128,165 shares of the company's stock valued at $12,133,000 after acquiring an additional 11,140 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Palomar by 28.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 42,853 shares of the company's stock valued at $4,525,000 after acquiring an additional 9,396 shares in the last quarter. Contravisory Investment Management Inc. bought a new stake in shares of Palomar during the 4th quarter valued at $318,000. Finally, Avanza Fonder AB acquired a new stake in shares of Palomar during the 4th quarter worth $143,000. Institutional investors and hedge funds own 90.25% of the company's stock.

Palomar Stock Up 5.4 %

Shares of NASDAQ PLMR traded up $7.75 during midday trading on Friday, reaching $151.81. 479,631 shares of the company were exchanged, compared to its average volume of 191,306. Palomar Holdings, Inc. has a one year low of $77.28 and a one year high of $155.92. The stock has a market cap of $4.06 billion, a P/E ratio of 33.89 and a beta of 0.46. The stock's 50-day moving average price is $137.19 and its 200-day moving average price is $116.62.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.24 by $0.13. Palomar had a return on equity of 19.76% and a net margin of 21.23%. On average, equities research analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Wall Street Analyst Weigh In

PLMR has been the subject of several recent analyst reports. JMP Securities reaffirmed a "market perform" rating on shares of Palomar in a research report on Thursday, February 13th. Truist Financial increased their price target on shares of Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. raised shares of Palomar from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $115.00 to $150.00 in a research note on Tuesday, April 8th. Jefferies Financial Group upped their target price on Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Finally, 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. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $148.33.

Insiders Place Their Bets

In other news, CEO Mac Armstrong sold 5,000 shares of Palomar stock in a transaction on Monday, April 21st. The shares were sold at an average price of $145.41, for a total transaction of $727,050.00. Following the transaction, the chief executive officer now owns 397,388 shares in the company, valued at approximately $57,784,189.08. The trade was a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO T Christopher Uchida sold 1,000 shares of the stock in a transaction on Monday, March 31st. The shares were 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 $1,413,908. The trade was a 8.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,254 shares of company stock valued at $2,443,484 in the last ninety days. 3.70% of the stock is currently owned by insiders.

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.