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

Axa S.A. raised its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR) by 12.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 242,633 shares of the company’s stock after acquiring an additional 26,514 shares during the quarter. Axa S.A.’s holdings in Palomar were worth $37,426,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Informed Momentum Co LLC acquired a new position in Palomar during the 1st quarter worth about $4,894,000. HighTower Advisors LLC raised its position in shares of Palomar by 252.8% during the first quarter. HighTower Advisors LLC now owns 11,217 shares of the company’s stock worth $1,538,000 after acquiring an additional 8,038 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Palomar during the first quarter worth about $314,000. Axiom Investors LLC DE acquired a new position in shares of Palomar in the first quarter worth approximately $3,251,000. Finally, Advisors Asset Management Inc. boosted its holdings in Palomar by 867.0% in the first quarter. Advisors Asset Management Inc. now owns 8,229 shares of the company’s stock valued at $1,128,000 after acquiring an additional 7,378 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Palomar Trading Up 2.1%

PLMR opened at $117.85 on Wednesday. Palomar Holdings, Inc. has a 1-year low of $98.42 and a 1-year high of $175.85. The company has a market cap of $3.12 billion, a P/E ratio of 18.39 and a beta of 0.49. The company has a fifty day moving average price of $119.35 and a two-hundred day moving average price of $130.64.

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 business had revenue of $65.74 million during the quarter. On average, research analysts forecast that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Insider Transactions at Palomar

In other Palomar news, insider Jonathan Knutzen sold 281 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $128.84, for a total transaction of $36,204.04. Following the transaction, the insider owned 21,565 shares in the company, valued at approximately $2,778,434.60. This represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO T Christopher Uchida sold 782 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $128.84, for a total transaction of $100,752.88. Following the sale, the chief financial officer directly owned 7,916 shares of the company’s stock, valued at approximately $1,019,897.44. The trade was a 8.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 19,803 shares of company stock valued at $2,348,771 over the last ninety days. Company insiders own 3.70% 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.