D. E. Shaw & Co. Inc. Has $6.67 Million Stock Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

D. E. Shaw & Co. Inc. decreased its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 29.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,151 shares of the company’s stock after selling 26,301 shares during the period. D. E. Shaw & Co. Inc. owned about 0.24% of Palomar worth $6,668,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Dakota Wealth Management raised its holdings in 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 acquiring an additional 92 shares in the last quarter. Farther Finance Advisors LLC grew its position in Palomar by 21.8% during the 4th quarter. Farther Finance Advisors LLC now owns 554 shares of the company’s stock worth $58,000 after acquiring an additional 99 shares during the last quarter. Louisiana State Employees Retirement System grew its position in Palomar by 0.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company’s stock worth $1,352,000 after acquiring an additional 100 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Palomar by 0.7% during the 4th quarter. State of Alaska Department of Revenue now owns 15,042 shares of the company’s stock worth $1,588,000 after buying an additional 100 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its holdings in Palomar by 2.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,837 shares of the company’s stock worth $616,000 after buying an additional 145 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Insider Activity at Palomar

In other Palomar news, CEO Mac Armstrong sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $129.72, for a total transaction of $648,600.00. Following the completion of the transaction, the chief executive officer now directly owns 402,388 shares in the company, valued at $52,197,771.36. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO T Christopher Uchida sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $139.00, for a total transaction of $139,000.00. Following the transaction, the chief financial officer now owns 10,172 shares of the company’s stock, valued at approximately $1,413,908. This represents a 8.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,254 shares of company stock worth $2,443,484. Company insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PLMR. Jefferies Financial Group increased their price target on Palomar from $145.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, April 11th. JPMorgan Chase & Co. raised Palomar from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $115.00 to $150.00 in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods lowered their target price on Palomar from $155.00 to $145.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. JMP Securities restated a “market perform” rating on shares of Palomar in a report on Thursday, February 13th. Finally, Piper Sandler raised their price objective on Palomar from $133.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.33.

Palomar Stock Up 0.5%

Shares of PLMR stock opened at $156.89 on Friday. Palomar Holdings, Inc. has a 12-month low of $77.28 and a 12-month high of $165.00. The company has a market capitalization of $4.20 billion, a PE ratio of 35.02 and a beta of 0.51. The firm has a 50 day moving average price of $143.32 and a two-hundred day moving average price of $120.84.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings data on Monday, May 5th. The company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.26. Palomar had a return on equity of 19.76% and a net margin of 21.23%. The company had revenue of $174.63 million during the quarter, compared to analysts’ expectations of $161.97 million. During the same quarter in the previous year, the company posted $1.09 earnings per share. As a group, research analysts expect that Palomar Holdings, Inc. will post 5.99 EPS for the current 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.