Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Bought by Covestor Ltd

Covestor Ltd grew its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR) by 20.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,076 shares of the company’s stock after acquiring an additional 181 shares during the period. Covestor Ltd’s holdings in Palomar were worth $102,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Palomar

In other news, President Jon Christianson sold 10,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $94.40, for a total transaction of $944,000.00. Following the sale, the president now directly owns 51,926 shares in the company, valued at approximately $4,901,814.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO T Christopher Uchida sold 1,111 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $104.00, for a total transaction of $115,544.00. Following the completion of the transaction, the chief financial officer now owns 16,432 shares in the company, valued at approximately $1,708,928. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Jon Christianson sold 10,000 shares of Palomar stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $94.40, for a total transaction of $944,000.00. Following the completion of the sale, the president now owns 51,926 shares in the company, valued at approximately $4,901,814.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,076 shares of company stock worth $3,806,029 over the last ninety days. Company insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PLMR shares. Piper Sandler raised their price target on shares of Palomar from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Keefe, Bruyette & Woods lifted their target price on Palomar from $117.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Evercore ISI boosted their price target on Palomar from $90.00 to $99.00 and gave the stock an “in-line” rating in a research note on Tuesday, August 6th. Jefferies Financial Group upped their target price on Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Truist Financial raised their price target 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 analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $109.00.

Palomar Trading Down 0.9 %

Shares of NASDAQ PLMR opened at $100.69 on Wednesday. The business has a 50 day simple moving average of $95.31 and a 200-day simple moving average of $89.64. Palomar Holdings, Inc. has a twelve month low of $54.50 and a twelve month high of $107.00. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 23.92 and a beta of 0.34.

Palomar (NASDAQ:PLMR) last issued its earnings results on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.20. Palomar had a net margin of 21.55% and a return on equity of 19.65%. The company had revenue of $148.50 million for the quarter, compared to analysts’ expectations of $134.72 million. During the same period in the prior year, the company earned $0.80 earnings per share. As a group, equities analysts predict that Palomar Holdings, Inc. will post 4.35 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.