Integrated Quantitative Investments LLC Sells 1,602 Shares of Palomar Holdings, Inc. $PLMR

Integrated Quantitative Investments LLC decreased its stake in Palomar Holdings, Inc. (NASDAQ:PLMR) by 15.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,707 shares of the company’s stock after selling 1,602 shares during the quarter. Integrated Quantitative Investments LLC’s holdings in Palomar were worth $1,343,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Informed Momentum Co LLC purchased a new position in shares of Palomar during the first quarter worth approximately $4,894,000. HighTower Advisors LLC raised its position in shares of Palomar by 252.8% in the 1st quarter. HighTower Advisors LLC now owns 11,217 shares of the company’s stock worth $1,538,000 after acquiring an additional 8,038 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. bought a new position in Palomar in the first quarter worth about $6,943,000. Dynamic Technology Lab Private Ltd purchased a new stake in Palomar during the first quarter valued at approximately $314,000. Finally, Axiom Investors LLC DE acquired a new stake in shares of Palomar in the 1st quarter worth $3,251,000. Institutional investors own 90.25% of the company’s stock.

Insiders Place Their Bets

In other news, President Jon Christianson sold 521 shares of Palomar stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $120.13, for a total transaction of $62,587.73. Following the sale, the president owned 59,036 shares of the company’s stock, valued at approximately $7,091,994.68. The trade was a 0.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard H. Taketa bought 500 shares of Palomar stock in a transaction on Monday, August 18th. The stock was acquired at an average price of $121.14 per share, for a total transaction of $60,570.00. Following the transaction, the director directly owned 44,226 shares of the company’s stock, valued at approximately $5,357,537.64. This trade represents a 1.14% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have sold 20,302 shares of company stock worth $2,414,141. 3.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PLMR shares. JPMorgan Chase & Co. boosted their target price on shares of Palomar from $137.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Palomar in a report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their target price on Palomar from $164.00 to $170.00 and gave the company an “outperform” rating in a research report on Tuesday, November 11th. Evercore ISI cut their price objective on Palomar from $168.00 to $134.00 and set an “in-line” rating for the company in a research note on Wednesday, October 1st. Finally, Piper Sandler decreased their target price on Palomar from $177.00 to $151.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 6th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $157.67.

Palomar Price Performance

Shares of Palomar stock opened at $129.72 on Friday. The stock’s 50 day simple moving average is $117.54 and its 200-day simple moving average is $134.89. The stock has a market cap of $3.44 billion, a P/E ratio of 22.80 and a beta of 0.25. Palomar Holdings, Inc. has a 1-year low of $98.42 and a 1-year high of $175.85.

Palomar (NASDAQ:PLMR) last issued its earnings results on Friday, December 16th. The company reported $0.07 earnings per share (EPS) for the quarter. The company had revenue of $65.74 million during the quarter. Palomar had a return on equity of 20.35% and a net margin of 22.71%. As a group, research analysts expect that Palomar Holdings, Inc. will post 5.99 EPS 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.