Palomar Holdings, Inc. (NASDAQ:PLMR) Stock Holdings Lowered by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt trimmed its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 25.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 8,400 shares of the company’s stock after selling 2,800 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Palomar were worth $886,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Palomar by 3.0% during the 3rd quarter. State Street Corp now owns 1,097,702 shares of the company’s stock worth $103,919,000 after acquiring an additional 32,151 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Palomar by 3.2% during the third quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock valued at $56,822,000 after purchasing an additional 18,335 shares during the last quarter. Artemis Investment Management LLP boosted its position in shares of Palomar by 18.7% in the 4th quarter. Artemis Investment Management LLP now owns 455,082 shares of the company’s stock valued at $48,052,000 after purchasing an additional 71,806 shares during the period. Emerald Advisers LLC increased its stake in Palomar by 1.9% in the 3rd quarter. Emerald Advisers LLC now owns 449,973 shares of the company’s stock worth $42,599,000 after purchasing an additional 8,601 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its holdings in Palomar by 24.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 394,408 shares of the company’s stock worth $37,339,000 after buying an additional 77,552 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Insider Activity

In other news, President Jon Christianson sold 2,195 shares of Palomar stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $104.10, for a total transaction of $228,499.50. Following the completion of the sale, the president now directly owns 51,926 shares in the company, valued at $5,405,496.60. The trade was a 4.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan Knutzen sold 282 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $104.46, for a total value of $29,457.72. Following the completion of the transaction, the insider now owns 20,098 shares in the company, valued at $2,099,437.08. This represents a 1.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,239 shares of company stock worth $4,374,199 in the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Analyst Ratings Changes

PLMR has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. JPMorgan Chase & Co. raised their price objective on shares of Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Piper Sandler boosted their target price on shares of Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Palomar currently has an average rating of “Moderate Buy” and an average price target of $115.50.

Palomar Stock Performance

Palomar stock opened at $109.92 on Friday. Palomar Holdings, Inc. has a twelve month low of $58.77 and a twelve month high of $112.90. The firm has a market cap of $2.91 billion, a PE ratio of 26.11 and a beta of 0.38. The firm’s 50 day moving average price is $106.91 and its two-hundred day moving average price is $99.90.

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.