AQR Capital Management LLC Sells 11,718 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

AQR Capital Management LLC trimmed its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 22.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,459 shares of the company's stock after selling 11,718 shares during the period. AQR Capital Management LLC owned about 0.15% of Palomar worth $4,166,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PLMR. Blue Trust Inc. acquired a new position in Palomar in the 4th quarter valued at approximately $26,000. Smartleaf Asset Management LLC raised its position in shares of Palomar by 536.9% in the fourth 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 period. Jones Financial Companies Lllp boosted its holdings in Palomar by 63.2% during the fourth quarter. Jones Financial Companies Lllp now owns 493 shares of the company's stock valued at $52,000 after acquiring an additional 191 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Palomar by 21.8% in the fourth quarter. Farther Finance Advisors LLC now owns 554 shares of the company's stock worth $58,000 after purchasing an additional 99 shares during the period. Finally, KBC Group NV boosted its stake in Palomar by 44.9% during the 4th quarter. KBC Group NV now owns 1,045 shares of the company's stock valued at $110,000 after purchasing an additional 324 shares during the period. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Mac Armstrong sold 5,000 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $145.41, for a total value of $727,050.00. Following the completion of the sale, the chief executive officer now directly owns 397,388 shares of the company's stock, valued at approximately $57,784,189.08. This represents a 1.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO T Christopher Uchida sold 500 shares of the stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $153.04, for a total transaction of $76,520.00. Following the completion of the sale, the chief financial officer now owns 7,672 shares of the company's stock, valued at approximately $1,174,122.88. This trade represents a 6.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,254 shares of company stock worth $2,443,484 over the last ninety days. Corporate insiders own 3.70% of the company's stock.

Palomar Trading Up 0.2%

NASDAQ PLMR traded up $0.38 during trading on Tuesday, reaching $155.68. The company's stock had a trading volume of 217,947 shares, compared to its average volume of 196,928. The firm has a 50 day moving average price of $141.53 and a 200 day moving average price of $119.88. Palomar Holdings, Inc. has a 12 month low of $77.28 and a 12 month high of $165.00. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of 34.75 and a beta of 0.51.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.26. The firm had revenue of $174.63 million for the quarter, compared to analyst estimates of $161.97 million. Palomar had a return on equity of 19.76% and a net margin of 21.23%. During the same quarter last year, the company earned $1.09 EPS. On average, equities analysts forecast that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Palomar from a "neutral" rating to an "overweight" rating and upped their target price for the company from $115.00 to $150.00 in a research note on Tuesday, April 8th. Truist Financial increased their price target on Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a research report on Tuesday, April 15th. Jefferies Financial Group increased their price target on shares of Palomar from $145.00 to $168.00 and gave the company a "buy" rating in a research note on Friday, April 11th. JMP Securities reaffirmed a "market perform" rating on shares of Palomar in a research note on Thursday, February 13th. Finally, Piper Sandler raised their target price on Palomar from $133.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Palomar presently has a consensus rating of "Moderate Buy" and an average target price of $148.33.

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.