Palomar Holdings, Inc. (NASDAQ:PLMR) Stake Boosted by Toth Financial Advisory Corp

Toth Financial Advisory Corp raised its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 83.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,350 shares of the company’s stock after buying an additional 3,350 shares during the quarter. Toth Financial Advisory Corp’s holdings in Palomar were worth $696,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC purchased a new position in Palomar during the first quarter valued at approximately $602,000. Picton Mahoney Asset Management increased its stake in shares of Palomar by 1,940.6% in the first quarter. Picton Mahoney Asset Management now owns 39,690 shares of the company’s stock worth $3,329,000 after acquiring an additional 37,745 shares during the last quarter. Quadrature Capital Ltd raised its holdings in shares of Palomar by 155.9% during the first quarter. Quadrature Capital Ltd now owns 22,773 shares of the company’s stock worth $1,906,000 after acquiring an additional 13,873 shares in the last quarter. Driehaus Capital Management LLC boosted its position in Palomar by 17.1% during the second quarter. Driehaus Capital Management LLC now owns 300,213 shares of the company’s stock valued at $24,362,000 after purchasing an additional 43,841 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in Palomar by 1,634.6% in the second quarter. Victory Capital Management Inc. now owns 177,678 shares of the company’s stock valued at $14,419,000 after purchasing an additional 167,435 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Palomar

In other Palomar news, President Jon Christianson sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $98.45, for a total value of $196,900.00. Following the completion of the transaction, the president now owns 51,926 shares of the company’s stock, valued at $5,112,114.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, President Jon Christianson sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $98.45, for a total transaction of $196,900.00. Following the completion of the transaction, the president now directly owns 51,926 shares of the company’s stock, valued at approximately $5,112,114.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas A. Bradley purchased 1,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were acquired at an average price of $89.42 per share, with a total value of $89,420.00. Following the purchase, the director now owns 4,724 shares of the company’s stock, valued at approximately $422,420.08. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 30,520 shares of company stock worth $2,952,526. Company insiders own 4.30% of the company’s stock.

Analyst Ratings Changes

PLMR has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on Palomar from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Piper Sandler raised their price target on shares of Palomar from $99.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Truist Financial upped their price objective on shares of Palomar from $100.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Evercore ISI raised their target price on Palomar from $90.00 to $99.00 and gave the company an “in-line” rating in a report on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods upped their price target on Palomar from $96.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $105.50.

Palomar Stock Down 0.7 %

PLMR opened at $96.43 on Tuesday. The stock’s 50 day moving average price is $96.00 and its two-hundred day moving average price is $88.02. The firm has a market capitalization of $2.40 billion, a P/E ratio of 27.71 and a beta of 0.33. Palomar Holdings, Inc. has a 12-month low of $48.08 and a 12-month high of $103.40.

Palomar (NASDAQ:PLMR) last announced its earnings results on Monday, August 5th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.16. The business had revenue of $123.08 million for the quarter, compared to analyst estimates of $338.74 million. Palomar had a net margin of 21.63% and a return on equity of 20.83%. Palomar’s revenue was up 47.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 earnings per share. As a group, analysts anticipate that Palomar Holdings, Inc. will post 4.36 earnings per share for the current year.

Palomar 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.