Intech Investment Management LLC Has $856,000 Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Intech Investment Management LLC raised its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 109.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,040 shares of the company’s stock after acquiring an additional 4,714 shares during the period. Intech Investment Management LLC’s holdings in Palomar were worth $856,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in Palomar by 1,634.6% during the 2nd 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 during the period. F M Investments LLC bought a new stake in shares of Palomar in the second quarter valued at approximately $11,946,000. Allspring Global Investments Holdings LLC grew its stake in shares of Palomar by 214.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 165,685 shares of the company’s stock worth $13,445,000 after acquiring an additional 112,996 shares during the last quarter. Artemis Investment Management LLP increased its position in Palomar by 36.1% during the second quarter. Artemis Investment Management LLP now owns 339,464 shares of the company’s stock worth $27,548,000 after acquiring an additional 90,010 shares during the period. Finally, Atlas Capital Advisors LLC raised its stake in 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 purchasing an additional 86,000 shares during the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Evercore ISI raised their price target on shares of Palomar from $90.00 to $99.00 and gave the stock an “in-line” rating in a research report on Tuesday, August 6th. Jefferies Financial Group lifted 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. Piper Sandler raised their price objective on Palomar from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Keefe, Bruyette & Woods boosted their price objective on Palomar from $117.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. raised their target price on Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Three 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 price target of $109.00.

Palomar Price Performance

Palomar stock opened at $108.44 on Friday. The business has a 50 day simple moving average of $98.17 and a 200 day simple moving average of $91.78. The company has a market capitalization of $2.87 billion, a PE ratio of 25.76 and a beta of 0.34. Palomar Holdings, Inc. has a one year low of $54.50 and a one year high of $111.27.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.20. Palomar had a return on equity of 19.65% and a net margin of 21.55%. The company had revenue of $148.50 million during the quarter, compared to analysts’ expectations of $134.72 million. During the same period last year, the business earned $0.80 earnings per share. Equities analysts anticipate that Palomar Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Palomar

In other news, President Jon Christianson sold 2,195 shares of Palomar stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $104.10, for a total value of $228,499.50. Following the completion of the transaction, the president now owns 51,926 shares in the company, valued at approximately $5,405,496.60. The trade was a 4.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO T Christopher Uchida sold 1,111 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $104.00, for a total value of $115,544.00. Following the sale, the chief financial officer now owns 16,432 shares in the company, valued at approximately $1,708,928. This trade represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,326 shares of company stock worth $3,632,779 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Palomar Company 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.