Mirae Asset Global Investments Co. Ltd. Boosts Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR) by 4.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 11,135 shares of the company’s stock after buying an additional 452 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Palomar were worth $618,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Los Angeles Capital Management LLC raised its holdings in Palomar by 0.9% in the third quarter. Los Angeles Capital Management LLC now owns 27,529 shares of the company’s stock valued at $1,397,000 after buying an additional 256 shares during the period. Westfield Capital Management Co. LP raised its holdings in Palomar by 26.0% in the third quarter. Westfield Capital Management Co. LP now owns 433,346 shares of the company’s stock valued at $21,992,000 after buying an additional 89,410 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Palomar by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 195,862 shares of the company’s stock valued at $9,940,000 after buying an additional 6,903 shares during the period. Barclays PLC raised its holdings in Palomar by 11.2% in the third quarter. Barclays PLC now owns 15,059 shares of the company’s stock valued at $764,000 after buying an additional 1,514 shares during the period. Finally, Trexquant Investment LP purchased a new stake in shares of Palomar during the third quarter valued at approximately $538,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Insiders Place Their Bets

In other Palomar news, President Jon Christianson sold 2,000 shares of Palomar stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $60.00, for a total value of $120,000.00. Following the completion of the transaction, the president now owns 69,521 shares of the company’s stock, valued at $4,171,260. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Palomar news, CEO Mac Armstrong sold 7,000 shares of Palomar stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $82.62, for a total value of $578,340.00. Following the completion of the transaction, the chief executive officer now owns 475,388 shares of the company’s stock, valued at $39,276,556.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Jon Christianson sold 2,000 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $60.00, for a total transaction of $120,000.00. Following the transaction, the president now directly owns 69,521 shares of the company’s stock, valued at approximately $4,171,260. The disclosure for this sale can be found here. Insiders sold a total of 46,086 shares of company stock valued at $3,533,932 over the last 90 days. 4.30% of the stock is owned by company insiders.

Analyst Ratings Changes

PLMR has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered shares of Palomar from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $79.00 to $85.00 in a research note on Monday, April 8th. Evercore ISI lifted their price objective on shares of Palomar from $68.00 to $86.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods lifted their price objective on shares of Palomar from $88.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. JMP Securities reiterated a “market perform” rating on shares of Palomar in a research note on Monday, April 15th. Finally, Piper Sandler lifted their price objective on shares of Palomar from $80.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.50.

Palomar Trading Down 0.3 %

PLMR stock opened at $81.15 on Friday. Palomar Holdings, Inc. has a twelve month low of $46.09 and a twelve month high of $86.25. The company has a market capitalization of $2.02 billion, a P/E ratio of 26.01 and a beta of 0.21. The firm has a 50 day simple moving average of $78.30 and a 200-day simple moving average of $64.93.

Palomar (NASDAQ:PLMR) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.09. Palomar had a net margin of 21.07% and a return on equity of 19.35%. The business had revenue of $102.35 million during the quarter, compared to the consensus estimate of $95.07 million. On average, research analysts predict that Palomar Holdings, Inc. will post 3.84 EPS for the current year.

About Palomar

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.