Jones Financial Companies Lllp Has $52,000 Stock Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Jones Financial Companies Lllp grew its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 63.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 493 shares of the company’s stock after buying an additional 191 shares during the period. Jones Financial Companies Lllp’s holdings in Palomar were worth $52,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Dakota Wealth Management increased its stake in shares of Palomar by 3.1% in 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 period. 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 buying an additional 100 shares during the period. Louisiana State Employees Retirement System boosted its holdings in Palomar by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company’s stock worth $1,352,000 after buying an additional 100 shares during the last quarter. Exchange Traded Concepts LLC increased its stake 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 acquiring an additional 200 shares during the last quarter. Finally, Blue Trust Inc. bought a new stake in shares of Palomar in the 4th quarter valued at about $26,000. 90.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Palomar

In other Palomar news, insider Angela L. Grant sold 1,505 shares of the company’s stock in a transaction that occurred on Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total transaction of $159,319.30. Following the completion of the transaction, the insider now owns 2,534 shares of the company’s stock, valued at $268,249.24. This represents a 37.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mac Armstrong sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $103.04, for a total value of $721,280.00. Following the transaction, the chief executive officer now directly owns 419,388 shares of the company’s stock, valued at approximately $43,213,739.52. This trade represents a 1.64 % decrease in their position. 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. 4.30% of the stock is owned by company insiders.

Palomar Stock Performance

Shares of PLMR opened at $134.09 on Tuesday. The stock has a 50 day simple moving average of $116.03 and a 200 day simple moving average of $105.90. Palomar Holdings, Inc. has a 52-week low of $74.09 and a 52-week high of $136.90. The firm has a market capitalization of $3.58 billion, a PE ratio of 29.93 and a beta of 0.33.

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

Analyst Ratings Changes

A number of analysts have recently commented on PLMR shares. JMP Securities reaffirmed a “market perform” rating on shares of Palomar in a research note on Thursday, February 13th. Piper Sandler upped their price target on Palomar from $133.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods upped their price target on Palomar from $136.00 to $152.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Finally, Truist Financial upped their price target on Palomar from $112.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.33.

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.