Palomar Holdings, Inc. (NASDAQ:PLMR) Position Boosted by Hunter Associates Investment Management LLC

Hunter Associates Investment Management LLC grew its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 21.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,209 shares of the company’s stock after purchasing an additional 2,542 shares during the period. Hunter Associates Investment Management LLC’s holdings in Palomar were worth $787,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. New York State Common Retirement Fund boosted its position in shares of Palomar by 1.8% during the 3rd quarter. New York State Common Retirement Fund now owns 10,099 shares of the company’s stock valued at $513,000 after purchasing an additional 182 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Palomar by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 10,002 shares of the company’s stock worth $581,000 after acquiring an additional 190 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Palomar by 3.8% in the second quarter. PNC Financial Services Group Inc. now owns 5,387 shares of the company’s stock worth $313,000 after acquiring an additional 198 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of Palomar by 5.3% in the third quarter. Handelsbanken Fonder AB now owns 4,210 shares of the company’s stock worth $214,000 after acquiring an additional 210 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its position in shares of Palomar by 0.9% in the third quarter. Los Angeles Capital Management LLC now owns 27,529 shares of the company’s stock worth $1,397,000 after acquiring an additional 256 shares in the last quarter. Institutional investors own 90.25% of the company’s stock.

Palomar Price Performance

PLMR traded up $1.45 on Friday, reaching $79.22. 144,752 shares of the company traded hands, compared to its average volume of 126,755. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 25.39 and a beta of 0.21. The stock’s 50 day moving average price is $76.95 and its 200-day moving average price is $64.07. Palomar Holdings, Inc. has a 52-week low of $46.09 and a 52-week high of $86.25.

Palomar (NASDAQ:PLMR) last posted its earnings results on Wednesday, February 14th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.09. The firm had revenue of $102.35 million during the quarter, compared to analysts’ expectations of $95.07 million. Palomar had a net margin of 21.07% and a return on equity of 19.35%. As a group, equities research analysts forecast that Palomar Holdings, Inc. will post 3.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Palomar

In other Palomar news, CFO T Christopher Uchida sold 1,000 shares of Palomar stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $76.30, for a total value of $76,300.00. Following the completion of the sale, the chief financial officer now directly owns 25,344 shares in the company, valued at $1,933,747.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Palomar news, President Jon Christianson sold 2,000 shares of Palomar stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $76.30, for a total value of $152,600.00. Following the completion of the sale, the president now directly owns 57,761 shares in the company, valued at $4,407,164.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO T Christopher Uchida sold 1,000 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $76.30, for a total transaction of $76,300.00. Following the completion of the sale, the chief financial officer now owns 25,344 shares of the company’s stock, valued at $1,933,747.20. The disclosure for this sale can be found here. Insiders sold 39,509 shares of company stock worth $2,999,157 over the last ninety days. 4.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PLMR. Keefe, Bruyette & Woods lifted their target price on shares of Palomar from $88.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Piper Sandler lifted their target price on shares of Palomar from $80.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. JPMorgan Chase & Co. downgraded shares of Palomar from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $79.00 to $85.00 in a research report on Monday, April 8th. Truist Financial boosted their price objective on shares of Palomar from $72.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Palomar in a research report on Monday, April 15th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Palomar has an average rating of “Moderate Buy” and an average price target of $87.50.

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.