Hunter Associates Investment Management LLC Boosts Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Hunter Associates Investment Management LLC boosted its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 21.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,209 shares of the company’s stock after buying an additional 2,542 shares during the period. Hunter Associates Investment Management LLC owned approximately 0.06% of Palomar worth $787,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLMR. UBS Group AG lifted its holdings in Palomar by 7,440.0% in the third quarter. UBS Group AG now owns 377 shares of the company’s stock valued at $32,000 after acquiring an additional 372 shares during the period. FMR LLC lifted its holdings in Palomar by 89.9% in the first quarter. FMR LLC now owns 864 shares of the company’s stock valued at $48,000 after acquiring an additional 409 shares during the period. Lazard Asset Management LLC acquired a new stake in Palomar in the first quarter valued at $55,000. Advisor Group Holdings Inc. lifted its holdings in Palomar by 34.1% in the first quarter. Advisor Group Holdings Inc. now owns 1,470 shares of the company’s stock valued at $94,000 after acquiring an additional 374 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in Palomar by 373.5% in the third quarter. Tower Research Capital LLC TRC now owns 2,486 shares of the company’s stock valued at $126,000 after acquiring an additional 1,961 shares during the period. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on PLMR. Jefferies Financial Group raised Palomar from a “hold” rating to a “buy” rating and lifted their price target for the stock from $78.00 to $88.00 in a research note on Thursday, March 14th. Piper Sandler lifted their price target on Palomar from $80.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. JMP Securities reaffirmed a “market perform” rating on shares of Palomar in a research note on Monday, April 15th. JPMorgan Chase & Co. downgraded Palomar from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $79.00 to $85.00 in a research note on Monday, April 8th. Finally, Evercore ISI lifted their price target on Palomar from $68.00 to $86.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Palomar presently has an average rating of “Moderate Buy” and an average target price of $87.50.

Palomar Stock Performance

PLMR stock traded up $1.45 during trading on Friday, hitting $79.22. The stock had a trading volume of 144,752 shares, compared to its average volume of 126,755. The company’s 50 day moving average price is $76.95 and its two-hundred day moving average price is $64.07. Palomar Holdings, Inc. has a 1-year low of $46.09 and a 1-year high of $86.25. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 25.39 and a beta of 0.21.

Palomar (NASDAQ:PLMR) last announced its earnings results on Wednesday, February 14th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.09. Palomar had a net margin of 21.07% and a return on equity of 19.35%. The firm had revenue of $102.35 million during the quarter, compared to the consensus estimate of $95.07 million. As a group, sell-side analysts forecast that Palomar Holdings, Inc. will post 3.84 earnings per share for the current fiscal year.

Insider Activity

In related news, President Jon Christianson sold 423 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $60.13, for a total value of $25,434.99. Following the sale, the president now directly owns 70,612 shares of the company’s stock, valued at $4,245,899.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Palomar news, President Jon Christianson sold 423 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $60.13, for a total transaction of $25,434.99. Following the transaction, the president now owns 70,612 shares of the company’s stock, valued at $4,245,899.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO T Christopher Uchida sold 1,000 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $76.30, for a total transaction of $76,300.00. Following the sale, the chief financial officer now directly owns 25,344 shares of the company’s stock, valued at $1,933,747.20. The disclosure for this sale can be found here. Insiders sold a total of 39,509 shares of company stock valued at $2,999,157 in the last 90 days. 4.40% of the stock is currently owned by insiders.

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.