Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Sold by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC decreased its stake in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 9.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,428 shares of the company's stock after selling 3,212 shares during the period. Schonfeld Strategic Advisors LLC owned approximately 0.12% of Palomar worth $3,318,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in PLMR. Barclays PLC boosted its position in Palomar by 112.6% during the third quarter. Barclays PLC now owns 71,803 shares of the company's stock worth $6,798,000 after purchasing an additional 38,027 shares in the last quarter. JPMorgan Chase & Co. grew its stake 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 during the last quarter. Harbor Capital Advisors Inc. increased its holdings in Palomar by 28.1% during 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. purchased a new stake in shares of Palomar in the fourth quarter valued at about $318,000. Finally, Avanza Fonder AB purchased a new position in shares of Palomar during the 4th quarter worth approximately $143,000. Hedge funds and other institutional investors own 90.25% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods reduced their price objective on Palomar from $155.00 to $145.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. 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 research report on Friday, April 11th. Piper Sandler increased their price target on Palomar from $133.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. JPMorgan Chase & Co. upgraded Palomar from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $115.00 to $150.00 in a report on Tuesday, April 8th. Finally, Truist Financial raised their target price 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. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $148.33.

Insider Buying and Selling at Palomar

In related news, CEO Mac Armstrong sold 3,202 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $153.04, for a total transaction of $490,034.08. Following the transaction, the chief executive officer now owns 70,186 shares in the company, valued at $10,741,265.44. This trade represents a 4.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO T Christopher Uchida sold 552 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $123.26, for a total value of $68,039.52. Following the completion of the sale, the chief financial officer now owns 15,683 shares of the company's stock, valued at $1,933,086.58. This trade represents a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,254 shares of company stock worth $2,443,484 over the last ninety days. Company insiders own 3.70% of the company's stock.

Palomar Price Performance

NASDAQ:PLMR traded up $0.49 during mid-day trading on Wednesday, reaching $156.82. The stock had a trading volume of 604,423 shares, compared to its average volume of 194,512. The stock's 50 day simple moving average is $139.14 and its two-hundred day simple moving average is $117.94. Palomar Holdings, Inc. has a 1-year low of $77.28 and a 1-year high of $163.78. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 35.00 and a beta of 0.51.

Palomar (NASDAQ:PLMR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.26. Palomar had a return on equity of 19.76% and a net margin of 21.23%. The firm had revenue of $174.63 million for the quarter, compared to analysts' expectations of $161.97 million. During the same period last year, the business posted $1.09 earnings per share. Sell-side analysts anticipate 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.