Marshall Wace LLP Sells 76,499 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Marshall Wace LLP cut its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 49.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 76,738 shares of the company's stock after selling 76,499 shares during the period. Marshall Wace LLP owned about 0.29% of Palomar worth $8,103,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Blue Trust Inc. bought a new position in shares of Palomar during the fourth quarter worth about $26,000. Smartleaf Asset Management LLC lifted its position in shares of Palomar by 536.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 414 shares of the company's stock worth $43,000 after purchasing an additional 349 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Palomar by 63.2% in the fourth quarter. Jones Financial Companies Lllp now owns 493 shares of the company's stock worth $52,000 after acquiring an additional 191 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in 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 acquiring an additional 99 shares during the last quarter. Finally, KBC Group NV lifted its holdings in Palomar by 44.9% in the fourth quarter. KBC Group NV now owns 1,045 shares of the company's stock worth $110,000 after acquiring an additional 324 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Palomar Stock Up 1.3 %

Shares of NASDAQ PLMR traded up $1.86 during mid-day trading on Monday, hitting $149.34. 254,290 shares of the company traded hands, compared to its average volume of 188,177. Palomar Holdings, Inc. has a 1 year low of $77.17 and a 1 year high of $155.87. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 33.33 and a beta of 0.46. The business has a 50 day moving average of $135.74 and a two-hundred day moving average of $115.88.

Palomar (NASDAQ:PLMR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.37 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Insider Activity

In other Palomar news, CFO T Christopher Uchida sold 500 shares of the business's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $153.04, for a total value of $76,520.00. Following the sale, the chief financial officer now owns 7,672 shares of the company's stock, valued at $1,174,122.88. The trade was a 6.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mac Armstrong sold 2,444 shares of the business's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $108.34, for a total transaction of $264,782.96. Following the completion of the sale, the chief executive officer now directly owns 64,982 shares in the company, valued at $7,040,149.88. This trade represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,342 shares of company stock valued at $3,198,841. Insiders own 3.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PLMR. Jefferies Financial Group raised their target price on shares of Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Truist Financial lifted their price target 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 cut their price target on Palomar from $155.00 to $145.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Piper Sandler lifted their price target on Palomar from $133.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Finally, JMP Securities reissued a "market perform" rating on shares of Palomar in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company 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.