Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Purchased by Algert Global LLC

Algert Global LLC raised its stake in Palomar Holdings, Inc. (NASDAQ:PLMR) by 9.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 41,085 shares of the company’s stock after buying an additional 3,398 shares during the quarter. Algert Global LLC owned approximately 0.16% of Palomar worth $3,890,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. bought a new position in Palomar in the 3rd quarter worth approximately $25,000. GAMMA Investing LLC increased its holdings in shares of Palomar by 48.6% during the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after purchasing an additional 125 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Palomar by 490.9% during the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $43,000 after purchasing an additional 378 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Palomar in the second quarter worth about $49,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Palomar in the 1st quarter valued at about $59,000. Institutional investors own 90.25% of the company’s stock.

Insider Activity

In other Palomar news, CEO Mac Armstrong sold 7,000 shares of Palomar stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $95.49, for a total transaction of $668,430.00. Following the transaction, the chief executive officer now owns 440,388 shares of the company’s stock, valued at $42,052,650.12. The trade was a 1.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO T Christopher Uchida sold 1,030 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $97.65, for a total transaction of $100,579.50. Following the completion of the sale, the chief financial officer now directly owns 17,543 shares of the company’s stock, valued at $1,713,073.95. This trade represents a 5.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,326 shares of company stock worth $3,632,779 over the last 90 days. 4.30% of the stock is owned by company insiders.

Palomar Stock Up 0.7 %

PLMR opened at $109.03 on Tuesday. The business has a fifty day simple moving average of $97.48 and a 200-day simple moving average of $91.37. The firm has a market cap of $2.89 billion, a PE ratio of 25.90 and a beta of 0.34. Palomar Holdings, Inc. has a fifty-two week low of $54.50 and a fifty-two week high of $110.98.

Palomar (NASDAQ:PLMR) last released its quarterly earnings results on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.20. Palomar had a return on equity of 19.65% and a net margin of 21.55%. The business had revenue of $148.50 million during the quarter, compared to analyst estimates of $134.72 million. During the same quarter last year, the company posted $0.80 EPS. On average, equities research analysts anticipate that Palomar Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on PLMR. JPMorgan Chase & Co. boosted their price target 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. Truist Financial upped their target price on Palomar from $100.00 to $112.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Jefferies Financial Group lifted their price target on Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Piper Sandler upped their price objective on Palomar from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Keefe, Bruyette & Woods raised their target price on Palomar from $117.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $109.00.

About Palomar

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.