Amundi Increases Stock Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Amundi lifted its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 753.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,344 shares of the company’s stock after purchasing an additional 34,734 shares during the quarter. Amundi owned about 0.15% of Palomar worth $4,165,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Dakota Wealth Management raised its position in Palomar by 3.1% during the 4th quarter. Dakota Wealth Management now owns 3,070 shares of the company’s stock worth $324,000 after buying an additional 92 shares during the last quarter. State of Alaska Department of Revenue lifted its position in Palomar by 0.7% in the fourth quarter. State of Alaska Department of Revenue now owns 15,042 shares of the company’s stock valued at $1,588,000 after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System increased its position in Palomar by 0.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company’s stock worth $1,352,000 after purchasing an additional 100 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Palomar by 63.2% during the 4th quarter. Jones Financial Companies Lllp now owns 493 shares of the company’s stock worth $52,000 after buying an additional 191 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Palomar by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 7,919 shares of the company’s stock valued at $836,000 after buying an additional 200 shares during the period. 90.25% of the stock is owned by institutional investors and hedge funds.

Palomar Price Performance

Shares of NASDAQ PLMR opened at $131.77 on Friday. Palomar Holdings, Inc. has a 12-month low of $74.09 and a 12-month high of $136.90. The company has a market capitalization of $3.52 billion, a PE ratio of 29.41 and a beta of 0.33. The firm’s 50-day moving average is $115.48 and its two-hundred day moving average is $105.59.

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

Wall Street Analyst Weigh In

PLMR has been the subject of several research analyst reports. Keefe, Bruyette & Woods increased their price objective on Palomar from $136.00 to $152.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Piper Sandler raised their price objective on shares of Palomar from $133.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. JMP Securities restated a “market perform” rating on shares of Palomar in a research report on Thursday, February 13th. Finally, Truist Financial lifted their price target on shares of Palomar from $112.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $127.33.

Insider Buying and Selling at Palomar

In other news, CEO Mac Armstrong sold 7,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $103.04, for a total transaction of $721,280.00. Following the completion of the transaction, the chief executive officer now owns 419,388 shares of the company’s stock, valued at $43,213,739.52. This represents a 1.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO T Christopher Uchida sold 1,030 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $110.85, for a total transaction of $114,175.50. Following the completion of the sale, the chief financial officer now directly owns 15,994 shares in the company, valued at $1,772,934.90. This represents a 6.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 38,485 shares of company stock worth $4,098,195. Insiders own 4.30% of the company’s stock.

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.