Cubist Systematic Strategies LLC Sells 11,800 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Cubist Systematic Strategies LLC trimmed its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 27.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,198 shares of the company's stock after selling 11,800 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.12% of Palomar worth $3,294,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Palomar by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 2,574,923 shares of the company's stock valued at $271,886,000 after purchasing an additional 53,123 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Palomar by 36.6% in the fourth quarter. American Century Companies Inc. now owns 785,419 shares of the company's stock worth $82,932,000 after buying an additional 210,523 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Palomar by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 618,840 shares of the company's stock worth $65,358,000 after buying an additional 18,748 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Palomar by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 561,740 shares of the company's stock worth $59,313,000 after buying an additional 17,320 shares during the last quarter. Finally, Artemis Investment Management LLP lifted its position in shares of 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 buying an additional 71,806 shares during the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Palomar Trading Up 1.7%

NASDAQ PLMR traded up $2.62 during trading hours on Friday, reaching $159.51. 68,036 shares of the company's stock were exchanged, compared to its average volume of 197,754. The stock has a market cap of $4.27 billion, a PE ratio of 35.61 and a beta of 0.51. Palomar Holdings, Inc. has a one year low of $77.28 and a one year high of $165.00. The firm has a fifty day moving average of $143.32 and a 200-day moving average of $120.84.

Palomar (NASDAQ:PLMR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.26. The business 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 period in the prior year, the company earned $1.09 EPS. As a group, research analysts forecast that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PLMR. Piper Sandler boosted their price objective on Palomar from $133.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Truist Financial boosted their price target on Palomar from $150.00 to $178.00 and gave the company a "buy" rating in a research note on Tuesday, April 15th. Keefe, Bruyette & Woods lowered 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. JPMorgan Chase & Co. upgraded Palomar from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $115.00 to $150.00 in a research note on Tuesday, April 8th. Finally, JMP Securities reissued a "market perform" rating on shares of Palomar in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Palomar currently has an average rating of "Moderate Buy" and a consensus target price of $148.33.

Insider Buying and Selling at Palomar

In other news, CFO T Christopher Uchida sold 500 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $153.04, for a total value of $76,520.00. Following the transaction, the chief financial officer now owns 7,672 shares of the company's stock, valued at $1,174,122.88. This represents a 6.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mac Armstrong sold 5,000 shares of the stock in a transaction 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 directly owns 402,388 shares in the company, valued at approximately $52,197,771.36. This trade represents a 1.23% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,254 shares of company stock worth $2,443,484. Insiders own 3.70% of the company's stock.

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.