Axa S.A. Buys 26,514 Shares of Palomar Holdings, Inc. $PLMR

Axa S.A. boosted its stake in Palomar Holdings, Inc. (NASDAQ:PLMR) by 12.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 242,633 shares of the company’s stock after buying an additional 26,514 shares during the period. Axa S.A. owned approximately 0.91% of Palomar worth $37,426,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Allworth Financial LP boosted its holdings in shares of Palomar by 1,970.0% during the second quarter. Allworth Financial LP now owns 207 shares of the company’s stock worth $32,000 after acquiring an additional 197 shares during the period. Maseco LLP acquired a new stake in Palomar during the 2nd quarter worth approximately $45,000. IFP Advisors Inc boosted its stake in Palomar by 556.9% in the 2nd quarter. IFP Advisors Inc now owns 335 shares of the company’s stock valued at $52,000 after purchasing an additional 284 shares during the period. NewEdge Advisors LLC acquired a new position in Palomar in the 1st quarter valued at $66,000. Finally, USA Financial Formulas grew its holdings in Palomar by 65.6% in the 2nd quarter. USA Financial Formulas now owns 659 shares of the company’s stock valued at $102,000 after buying an additional 261 shares in the last quarter. 90.25% of the stock is owned by institutional investors.

Insider Activity at Palomar

In other news, President Jon Christianson sold 522 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $128.84, for a total value of $67,254.48. Following the completion of the transaction, the president directly owned 59,631 shares in the company, valued at approximately $7,682,858.04. This represents a 0.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO T Christopher Uchida sold 782 shares of the business’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $128.84, for a total value of $100,752.88. Following the sale, the chief financial officer owned 7,916 shares in the company, valued at $1,019,897.44. This represents a 8.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 19,803 shares of company stock worth $2,348,771 in the last 90 days. 3.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PLMR shares. Keefe, Bruyette & Woods boosted their target price on shares of Palomar from $164.00 to $170.00 and gave the company an “outperform” rating in a research report on Tuesday, November 11th. Wall Street Zen raised shares of Palomar from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Palomar in a research report on Wednesday, October 8th. Evercore ISI dropped their price target on shares of Palomar from $168.00 to $134.00 and set an “in-line” rating for the company in a research report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. boosted their price target on Palomar from $137.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $157.67.

Palomar Trading Up 2.1%

Shares of Palomar stock opened at $117.85 on Wednesday. The company has a 50 day moving average of $119.35 and a 200-day moving average of $130.64. The company has a market cap of $3.12 billion, a PE ratio of 18.39 and a beta of 0.49. 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 EPS for the quarter. Palomar had a return on equity of 21.93% and a net margin of 22.59%.The firm had revenue of $65.74 million during the quarter. Research analysts forecast that Palomar Holdings, Inc. will post 5.99 earnings per share for the current 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.