Barclays PLC Purchases 38,027 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Barclays PLC boosted its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 112.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,803 shares of the company’s stock after acquiring an additional 38,027 shares during the period. Barclays PLC owned 0.27% of Palomar worth $6,798,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLMR. Louisiana State Employees Retirement System boosted its stake in shares of Palomar by 2.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 12,500 shares of the company’s stock valued at $1,014,000 after purchasing an additional 300 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Palomar by 214.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 165,685 shares of the company’s stock valued at $13,445,000 after acquiring an additional 112,996 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Palomar by 8.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,833 shares of the company’s stock worth $636,000 after acquiring an additional 594 shares during the period. F M Investments LLC acquired a new stake in Palomar during the 2nd quarter worth $11,946,000. Finally, Atlas Capital Advisors LLC raised its position in shares of Palomar by 167.7% during the 2nd quarter. Atlas Capital Advisors LLC now owns 137,284 shares of the company’s stock valued at $11,141,000 after acquiring an additional 86,000 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on PLMR. Piper Sandler lifted their price objective on Palomar from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Jefferies Financial Group boosted their target price on Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods increased their price target on shares of Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $111.67.

Insider Buying and Selling

In other Palomar news, President Jon Christianson sold 3,805 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $103.04, for a total value 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 6.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mac Armstrong sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $95.49, for a total value of $668,430.00. Following the transaction, the chief executive officer now directly owns 440,388 shares of the company’s stock, valued at approximately $42,052,650.12. This trade represents a 1.56 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,356 shares of company stock valued at $2,802,955. Company insiders own 4.30% of the company’s stock.

Palomar Price Performance

NASDAQ:PLMR opened at $104.74 on Thursday. The business’s 50-day simple moving average is $101.73 and its 200-day simple moving average is $94.32. Palomar Holdings, Inc. has a fifty-two week low of $54.50 and a fifty-two week high of $112.90. The stock has a market capitalization of $2.77 billion, a PE ratio of 24.88 and a beta of 0.36.

Palomar (NASDAQ:PLMR) last announced 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 net margin of 21.55% and a return on equity of 19.65%. The firm had revenue of $148.50 million for the quarter, compared to analyst estimates of $134.72 million. During the same quarter in the previous year, the firm posted $0.80 earnings per share. On average, research analysts expect that Palomar Holdings, Inc. will post 4.33 earnings per share for the current year.

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.