Jump Financial LLC Has $727,000 Stock Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Jump Financial LLC boosted its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 146.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,885 shares of the company’s stock after purchasing an additional 4,087 shares during the period. Jump Financial LLC’s holdings in Palomar were worth $727,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PLMR. Dakota Wealth Management lifted its holdings in shares of Palomar by 3.1% during the 4th quarter. Dakota Wealth Management now owns 3,070 shares of the company’s stock valued at $324,000 after buying an additional 92 shares during the last quarter. Farther Finance Advisors LLC raised its position in Palomar by 21.8% during the fourth quarter. Farther Finance Advisors LLC now owns 554 shares of the company’s stock valued at $58,000 after acquiring an additional 99 shares in the last quarter. State of Alaska Department of Revenue lifted its stake 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 acquiring an additional 100 shares during the last quarter. Louisiana State Employees Retirement System grew its position in Palomar by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company’s stock worth $1,352,000 after acquiring an additional 100 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its stake in shares of Palomar by 2.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,837 shares of the company’s stock worth $616,000 after purchasing an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Palomar Stock Up 2.6 %

PLMR opened at $147.96 on Wednesday. The stock’s 50 day moving average price is $133.72 and its two-hundred day moving average price is $114.20. The firm has a market capitalization of $3.96 billion, a P/E ratio of 33.03 and a beta of 0.46. Palomar Holdings, Inc. has a 12-month low of $77.17 and a 12-month high of $155.87.

Palomar (NASDAQ:PLMR) 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 net margin of 21.23% and a return on equity of 19.76%. As a group, analysts anticipate that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Mac Armstrong sold 2,791 shares of the firm’s stock in a transaction on Sunday, January 26th. The stock was sold at an average price of $101.69, for a total value of $283,816.79. Following the completion of the transaction, the chief executive officer now directly owns 62,639 shares of the company’s stock, valued at $6,369,759.91. This trade represents a 4.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO T Christopher Uchida sold 394 shares of the business’s stock in a transaction on Sunday, January 26th. The shares were sold at an average price of $101.69, for a total transaction of $40,065.86. Following the completion of the sale, the chief financial officer now directly owns 16,943 shares in the company, valued at $1,722,933.67. This trade represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,615 shares of company stock worth $2,906,319 in the last ninety days. Insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

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

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.