Hussman Strategic Advisors Inc. Acquires Shares of 4,200 Palomar Holdings, Inc. (NASDAQ:PLMR)

Hussman Strategic Advisors Inc. acquired a new stake in Palomar Holdings, Inc. (NASDAQ:PLMR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,200 shares of the company’s stock, valued at approximately $443,000.

Several other hedge funds have also made changes to their positions in PLMR. Creative Planning grew its stake in shares of Palomar by 23.2% in the 3rd quarter. Creative Planning now owns 3,240 shares of the company’s stock valued at $307,000 after buying an additional 610 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Palomar by 20.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 199,284 shares of the company’s stock valued at $18,866,000 after buying an additional 33,599 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Palomar in the 3rd quarter valued at approximately $25,000. International Assets Investment Management LLC grew its stake in shares of Palomar by 9,367.0% in the 3rd quarter. International Assets Investment Management LLC now owns 57,654 shares of the company’s stock valued at $5,458,000 after buying an additional 57,045 shares during the period. Finally, Riverwater Partners LLC purchased a new stake in shares of Palomar in the 3rd quarter valued at approximately $1,715,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Insider Buying and Selling at Palomar

In other news, CEO Mac Armstrong sold 2,791 shares of the firm’s stock in a transaction on Sunday, January 26th. The shares were sold at an average price of $101.69, for a total value of $283,816.79. Following the sale, the chief executive officer now directly owns 62,639 shares in the company, valued at approximately $6,369,759.91. This trade represents a 4.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO T Christopher Uchida sold 1,030 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $110.85, for a total transaction of $114,175.50. Following the completion of the sale, the chief financial officer now owns 15,994 shares in the company, valued at $1,772,934.90. The trade was a 6.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,485 shares of company stock valued at $4,098,195 in the last 90 days. Company insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PLMR. Truist Financial increased their price objective on shares of Palomar from $112.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. JMP Securities reaffirmed a “market perform” rating on shares of Palomar in a research report on Thursday, February 13th. Keefe, Bruyette & Woods increased their price objective on shares of Palomar from $136.00 to $152.00 and gave the stock an “outperform” rating in a research report on Tuesday. Piper Sandler increased their price objective on shares of Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $127.33.

Palomar Stock Down 1.7 %

Shares of PLMR stock opened at $120.76 on Friday. Palomar Holdings, Inc. has a 52 week low of $71.54 and a 52 week high of $128.38. The stock has a market capitalization of $3.20 billion, a PE ratio of 26.96 and a beta of 0.38. The firm has a 50 day moving average of $108.89 and a two-hundred day moving average of $101.86.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. Analysts expect that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

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.