Palomar Holdings, Inc. (NASDAQ:PLMR) Holdings Raised by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,042 shares of the company’s stock after buying an additional 100 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Palomar worth $1,588,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Hunter Associates Investment Management LLC lifted its stake in Palomar by 6.8% in the 4th quarter. Hunter Associates Investment Management LLC now owns 17,689 shares of the company’s stock worth $1,872,000 after acquiring an additional 1,120 shares in the last quarter. Moody Aldrich Partners LLC increased its holdings in shares of Palomar by 130.4% in the 4th quarter. Moody Aldrich Partners LLC now owns 62,322 shares of the company’s stock valued at $6,581,000 after purchasing an additional 35,270 shares during the period. KBC Group NV lifted its position in shares of 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 purchasing an additional 324 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Palomar by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,919 shares of the company’s stock worth $836,000 after purchasing an additional 200 shares during the period. Finally, Dakota Wealth Management grew its position in Palomar by 3.1% during the fourth quarter. Dakota Wealth Management now owns 3,070 shares of the company’s stock valued at $324,000 after purchasing an additional 92 shares in the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Jonathan Knutzen sold 282 shares of Palomar stock in a transaction on Friday, January 31st. The shares were sold at an average price of $104.46, for a total value of $29,457.72. Following the transaction, the insider now owns 20,098 shares in the company, valued at $2,099,437.08. This trade represents a 1.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO T Christopher Uchida sold 390 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $104.47, for a total transaction of $40,743.30. Following the transaction, the chief financial officer now directly owns 18,509 shares of the company’s stock, valued at approximately $1,933,635.23. This represents a 2.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,933 shares of company stock valued at $4,030,156 over the last 90 days. 4.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on PLMR. JPMorgan Chase & Co. boosted their target price on Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Piper Sandler increased their price objective on Palomar from $119.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Palomar currently has a consensus rating of “Moderate Buy” and an average target price of $115.50.

Palomar Stock Performance

PLMR opened at $110.32 on Wednesday. The firm has a market cap of $2.92 billion, a P/E ratio of 26.20 and a beta of 0.38. The business has a 50 day moving average price of $106.96 and a 200 day moving average price of $100.32. Palomar Holdings, Inc. has a twelve month low of $59.08 and a twelve month high of $112.90.

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.