Kennedy Capital Management LLC Decreases Stake in Palomar Holdings, Inc. (NASDAQ:PLMR)

Kennedy Capital Management LLC lessened its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 14.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,571 shares of the company’s stock after selling 5,463 shares during the period. Kennedy Capital Management LLC’s holdings in Palomar were worth $3,439,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Blue Trust Inc. purchased a new stake in shares of Palomar during the fourth quarter valued at $26,000. Smartleaf Asset Management LLC grew its stake in Palomar by 536.9% during 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 during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Palomar by 63.2% in the fourth quarter. Jones Financial Companies Lllp now owns 493 shares of the company’s stock valued at $52,000 after purchasing an additional 191 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Palomar by 21.8% in the fourth quarter. Farther Finance Advisors LLC now owns 554 shares of the company’s stock worth $58,000 after purchasing an additional 99 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Palomar by 44.9% during 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 during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Insider Activity

In other Palomar news, CFO T Christopher Uchida sold 394 shares of the company’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 transaction, the chief financial officer now directly owns 16,943 shares in the company, valued at approximately $1,722,933.67. This represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mac Armstrong sold 7,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $109.76, for a total transaction of $768,320.00. Following the transaction, the chief executive officer now directly owns 412,388 shares in the company, valued at approximately $45,263,706.88. The trade was a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,097 shares of company stock worth $3,415,422 in the last quarter. Corporate insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

PLMR has been the topic of several research reports. Truist Financial increased their price target on shares of Palomar from $112.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Piper Sandler raised their target price on shares of Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. JPMorgan Chase & Co. raised shares of Palomar from a “neutral” rating to an “overweight” rating and upped their price target for the company from $115.00 to $150.00 in a report on Tuesday, April 8th. Keefe, Bruyette & Woods reduced their price objective on Palomar from $155.00 to $145.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Jefferies Financial Group upped their target price on Palomar from $145.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Palomar presently has an average rating of “Moderate Buy” and an average target price of $143.67.

Palomar Stock Up 3.4 %

PLMR stock opened at $147.88 on Friday. Palomar Holdings, Inc. has a 52-week low of $74.09 and a 52-week high of $148.54. The firm has a market cap of $3.95 billion, a P/E ratio of 33.01 and a beta of 0.46. The company’s 50-day simple moving average is $128.46 and its 200-day simple moving average is $111.61.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results 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 anticipate that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

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.