Moody Aldrich Partners LLC Takes Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Moody Aldrich Partners LLC bought a new position in Palomar Holdings, Inc. (NASDAQ:PLMR) during the third quarter, HoldingsChannel.com reports. The fund bought 27,052 shares of the company’s stock, valued at approximately $2,561,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. bought a new position in Palomar in the third quarter worth approximately $25,000. GAMMA Investing LLC raised its holdings in shares of Palomar by 48.6% in the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after acquiring an additional 125 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Palomar in the second quarter worth about $49,000. DekaBank Deutsche Girozentrale purchased a new stake in Palomar in the first quarter worth about $59,000. Finally, Advisors Asset Management Inc. grew its holdings in Palomar by 137.1% during the 1st quarter. Advisors Asset Management Inc. now owns 735 shares of the company’s stock worth $62,000 after acquiring an additional 425 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PLMR. JPMorgan Chase & Co. lifted 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. Keefe, Bruyette & Woods upped their price objective on Palomar from $96.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Piper Sandler lifted their target price on Palomar from $99.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Evercore ISI increased their price target on shares of Palomar from $90.00 to $99.00 and gave the company an “in-line” rating in a research report on Tuesday, August 6th. Finally, Truist Financial lifted their price objective on shares of Palomar from $100.00 to $112.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.50.

Palomar Trading Up 0.4 %

Shares of PLMR stock traded up $0.39 during trading hours on Thursday, reaching $94.58. 10,271 shares of the company’s stock were exchanged, compared to its average volume of 162,092. Palomar Holdings, Inc. has a 1 year low of $48.65 and a 1 year high of $103.40. The stock has a market cap of $2.37 billion, a PE ratio of 24.85 and a beta of 0.33. The stock’s fifty day moving average price is $96.20 and its two-hundred day moving average price is $88.16.

Palomar (NASDAQ:PLMR) last released its earnings results on Monday, August 5th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.16. The company had revenue of $123.08 million during the quarter, compared to analysts’ expectations of $338.74 million. Palomar had a net margin of 21.63% and a return on equity of 20.83%. Palomar’s revenue for the quarter was up 47.0% on a year-over-year basis. During the same period last year, the business earned $0.72 EPS. On average, equities analysts expect that Palomar Holdings, Inc. will post 4.35 EPS for the current fiscal year.

Insider Activity at Palomar

In other Palomar news, President Jon Christianson sold 3,805 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $103.04, for a total transaction of $392,067.20. Following the sale, the president now owns 51,926 shares in the company, valued at approximately $5,350,455.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Jon Christianson sold 3,805 shares of Palomar stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $103.04, for a total transaction of $392,067.20. Following the completion of the sale, the president now owns 51,926 shares of the company’s stock, valued at $5,350,455.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mac Armstrong sold 7,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $95.49, for a total transaction of $668,430.00. Following the completion of the transaction, the chief executive officer now owns 440,388 shares in the company, valued at approximately $42,052,650.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,520 shares of company stock valued at $3,626,486 in the last ninety days. Company insiders own 4.30% of the company’s stock.

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.