Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Purchased by Artemis Investment Management LLP

Artemis Investment Management LLP increased its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 18.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 455,082 shares of the company's stock after acquiring an additional 71,806 shares during the period. Artemis Investment Management LLP owned about 1.72% of Palomar worth $48,052,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. State Street Corp lifted its position in shares of Palomar by 3.0% during the third quarter. State Street Corp now owns 1,097,702 shares of the company's stock worth $103,919,000 after purchasing an additional 32,151 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Palomar by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 600,092 shares of the company's stock valued at $56,822,000 after buying an additional 18,335 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Palomar by 9.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 128,165 shares of the company's stock valued at $12,133,000 after buying an additional 11,140 shares during the period. Driehaus Capital Management LLC boosted its position in Palomar by 17.1% in the 2nd quarter. Driehaus Capital Management LLC now owns 300,213 shares of the company's stock valued at $24,362,000 after buying an additional 43,841 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in shares of Palomar by 58.7% during the third quarter. Thrivent Financial for Lutherans now owns 32,837 shares of the company's stock worth $3,109,000 after acquiring an additional 12,147 shares during the period. Institutional investors own 90.25% of the company's stock.

Palomar Stock Up 1.8 %

Shares of NASDAQ PLMR traded up $2.00 during mid-day trading on Monday, reaching $110.37. 106,382 shares of the company were exchanged, compared to its average volume of 128,729. Palomar Holdings, Inc. has a 1 year low of $57.55 and a 1 year high of $112.90. The firm has a 50-day moving average of $106.51 and a 200 day moving average of $97.94. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 26.22 and a beta of 0.38.

Palomar (NASDAQ:PLMR - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.03 by $0.20. Palomar had a net margin of 21.55% and a return on equity of 19.65%. The business had revenue of $148.50 million during the quarter, compared to analyst estimates of $134.72 million. During the same period in the prior year, the firm posted $0.80 earnings per share. On average, equities analysts forecast that Palomar Holdings, Inc. will post 4.33 earnings per share for the current year.

Insider Buying and Selling at Palomar

In related news, President Jon Christianson sold 2,195 shares of the 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 directly owns 51,926 shares of the company's stock, valued at $5,405,496.60. This trade represents a 4.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mac Armstrong sold 7,000 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $103.04, for a total transaction of $721,280.00. Following the sale, the chief executive officer now directly owns 419,388 shares in the company, valued at approximately $43,213,739.52. This represents a 1.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,694 shares of company stock worth $1,958,417 over the last three months. Corporate insiders own 4.30% of the company's stock.

Analyst Upgrades and Downgrades

PLMR has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price objective on Palomar from $93.00 to $100.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods increased their price target on Palomar from $120.00 to $136.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. Jefferies Financial Group lifted their price objective on Palomar from $110.00 to $113.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Finally, Piper Sandler increased their target price on shares of Palomar from $119.00 to $133.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $115.50.

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.