Quantbot Technologies LP Lowers Stock Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Quantbot Technologies LP reduced its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 31.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 14,318 shares of the company’s stock after selling 6,577 shares during the quarter. Quantbot Technologies LP’s holdings in Palomar were worth $1,512,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PLMR. Blue Trust Inc. purchased a new stake in Palomar in the fourth quarter worth approximately $26,000. Smartleaf Asset Management LLC boosted its stake in shares of Palomar by 536.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 414 shares of the company’s stock valued at $43,000 after purchasing an additional 349 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Palomar by 63.2% in the 4th quarter. Jones Financial Companies Lllp now owns 493 shares of the company’s stock valued at $52,000 after purchasing an additional 191 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Palomar by 21.8% during the 4th quarter. Farther Finance Advisors LLC now owns 554 shares of the company’s stock valued at $58,000 after purchasing an additional 99 shares during the last quarter. Finally, KBC Group NV raised its position in Palomar by 44.9% in the 4th quarter. KBC Group NV now owns 1,045 shares of the company’s stock worth $110,000 after purchasing an additional 324 shares during the period. 90.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palomar

In other Palomar news, CEO Mac Armstrong sold 4,170 shares of the firm’s stock in a transaction that occurred on Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total transaction of $441,436.20. Following the completion of the transaction, the chief executive officer now owns 56,936 shares of the company’s stock, valued at approximately $6,027,244.96. This trade represents a 6.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO T Christopher Uchida sold 552 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $123.26, for a total value of $68,039.52. Following the completion of the sale, the chief financial officer now directly owns 15,683 shares in the company, valued at approximately $1,933,086.58. This represents a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,455 shares of company stock valued at $3,911,340 in the last three months. Company insiders own 4.30% of the company’s stock.

Palomar Stock Performance

Palomar stock opened at $134.99 on Tuesday. Palomar Holdings, Inc. has a fifty-two week low of $74.09 and a fifty-two week high of $136.90. The stock’s 50 day simple moving average is $118.71 and its two-hundred day simple moving average is $107.05. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 30.13 and a beta of 0.33.

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

Analysts Set New Price Targets

Several analysts have issued reports on PLMR shares. Keefe, Bruyette & Woods upped their price target on shares of Palomar from $152.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday. Truist Financial raised their price target on Palomar from $112.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Piper Sandler boosted their price objective on Palomar from $133.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, JMP Securities restated a “market perform” rating on shares of Palomar in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $127.83.

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.