Mirae Asset Global Investments Co. Ltd. Purchases 452 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Mirae Asset Global Investments Co. Ltd. lifted its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,135 shares of the company’s stock after buying an additional 452 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Palomar were worth $618,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Westfield Capital Management Co. LP grew its stake in shares of Palomar by 26.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 433,346 shares of the company’s stock valued at $21,992,000 after buying an additional 89,410 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Palomar by 6.3% in the 3rd quarter. Federated Hermes Inc. now owns 195,942 shares of the company’s stock valued at $9,944,000 after buying an additional 11,570 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Palomar by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 195,862 shares of the company’s stock worth $9,940,000 after purchasing an additional 6,903 shares during the last quarter. Oak Ridge Investments LLC lifted its holdings in Palomar by 29.9% in the 4th quarter. Oak Ridge Investments LLC now owns 64,893 shares of the company’s stock worth $3,602,000 after purchasing an additional 14,940 shares during the last quarter. Finally, Algert Global LLC lifted its holdings in Palomar by 8.4% in the 3rd quarter. Algert Global LLC now owns 51,446 shares of the company’s stock worth $2,611,000 after purchasing an additional 4,000 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

Insider Transactions at Palomar

In related news, CEO Mac Armstrong sold 952 shares of the company’s stock in a transaction on Saturday, January 27th. The stock was sold at an average price of $60.13, for a total value of $57,243.76. Following the completion of the transaction, the chief executive officer now directly owns 44,117 shares in the company, valued at $2,652,755.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO T Christopher Uchida sold 1,000 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $76.30, for a total value of $76,300.00. Following the completion of the transaction, the chief financial officer now directly owns 25,344 shares in the company, valued at $1,933,747.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mac Armstrong sold 952 shares of the company’s stock in a transaction on Saturday, January 27th. The shares were sold at an average price of $60.13, for a total value of $57,243.76. Following the completion of the transaction, the chief executive officer now owns 44,117 shares of the company’s stock, valued at $2,652,755.21. The disclosure for this sale can be found here. Insiders sold a total of 46,086 shares of company stock worth $3,533,932 over the last three months. 4.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PLMR has been the subject of several analyst reports. Truist Financial boosted their target price on Palomar from $72.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, February 16th. JPMorgan Chase & Co. lowered Palomar from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $79.00 to $85.00 in a report on Monday, April 8th. Piper Sandler boosted their target price on Palomar from $80.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Evercore ISI boosted their target price on Palomar from $68.00 to $86.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods boosted their target price on Palomar from $88.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $87.50.

Palomar Stock Down 0.3 %

Shares of PLMR stock opened at $81.15 on Friday. Palomar Holdings, Inc. has a 12 month low of $46.09 and a 12 month high of $86.25. The firm has a market cap of $2.02 billion, a PE ratio of 26.01 and a beta of 0.21. The stock has a 50 day moving average of $78.30 and a 200-day moving average of $64.93.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.09. Palomar had a return on equity of 19.35% and a net margin of 21.07%. The company had revenue of $102.35 million during the quarter, compared to analyst estimates of $95.07 million. As a group, equities analysts predict that Palomar Holdings, Inc. will post 3.84 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.