Point72 Asia Singapore Pte. Ltd. Has $53,000 Stock Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Point72 Asia Singapore Pte. Ltd. lessened its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 72.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 652 shares of the company’s stock after selling 1,708 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Palomar were worth $53,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in Palomar during the 2nd quarter valued at about $49,000. DekaBank Deutsche Girozentrale acquired a new position in Palomar in the first quarter valued at approximately $59,000. Advisors Asset Management Inc. boosted its stake in Palomar by 137.1% in the first quarter. Advisors Asset Management Inc. now owns 735 shares of the company’s stock valued at $62,000 after acquiring an additional 425 shares during the last quarter. Atwood & Palmer Inc. grew its holdings in Palomar by 66.7% during the 1st quarter. Atwood & Palmer Inc. now owns 750 shares of the company’s stock worth $63,000 after acquiring an additional 300 shares during the period. Finally, Covestor Ltd raised its position in shares of Palomar by 29.0% during the 1st quarter. Covestor Ltd now owns 1,183 shares of the company’s stock valued at $99,000 after acquiring an additional 266 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on PLMR. Piper Sandler lifted their price objective on Palomar from $99.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Evercore ISI upped their price target on Palomar from $90.00 to $99.00 and gave the company an “in-line” rating in a research note on Tuesday, August 6th. Keefe, Bruyette & Woods lifted their price objective on shares of Palomar from $96.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. boosted their price objective on shares of Palomar from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Finally, Truist Financial increased their target price on shares of Palomar from $100.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Palomar currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.33.

Palomar Stock Down 0.2 %

Palomar stock opened at $94.67 on Tuesday. Palomar Holdings, Inc. has a twelve month low of $48.08 and a twelve month high of $100.29. The company has a 50 day moving average of $94.12 and a 200-day moving average of $86.46. The stock has a market capitalization of $2.37 billion, a PE ratio of 27.20 and a beta of 0.34.

Palomar (NASDAQ:PLMR) last announced its earnings results on Monday, August 5th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.16. Palomar had a net margin of 21.63% and a return on equity of 20.83%. The firm had revenue of $123.08 million during the quarter, compared to analyst estimates of $338.74 million. During the same period in the prior year, the business earned $0.72 EPS. The company’s revenue for the quarter was up 47.0% compared to the same quarter last year. Equities analysts anticipate that Palomar Holdings, Inc. will post 4.37 EPS for the current fiscal year.

Insider Transactions at Palomar

In related news, President Jon Christianson sold 2,000 shares of Palomar stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $91.35, for a total value of $182,700.00. Following the sale, the president now owns 51,761 shares of the company’s stock, valued at approximately $4,728,367.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, President Jon Christianson sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $91.35, for a total transaction of $182,700.00. Following the completion of the transaction, the president now directly owns 51,761 shares of the company’s stock, valued at approximately $4,728,367.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO T Christopher Uchida sold 1,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $91.30, for a total transaction of $91,300.00. Following the completion of the sale, the chief financial officer now directly owns 24,094 shares in the company, valued at approximately $2,199,782.20. The disclosure for this sale can be found here. Insiders sold 48,500 shares of company stock valued at $4,464,266 over the last three months. Company insiders own 4.30% of the company’s stock.

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.