Barclays PLC Has $6.80 Million Stock Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Barclays PLC increased its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 112.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 71,803 shares of the company's stock after purchasing an additional 38,027 shares during the quarter. Barclays PLC owned 0.27% of Palomar worth $6,798,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of PLMR. GAMMA Investing LLC increased its position in shares of Palomar by 48.6% in the third 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. Arizona State Retirement System increased its holdings in Palomar by 2.4% in the 2nd quarter. Arizona State Retirement System now owns 6,961 shares of the company's stock valued at $565,000 after purchasing an additional 164 shares in the last quarter. Covestor Ltd raised its position in Palomar by 20.2% in the third quarter. Covestor Ltd now owns 1,076 shares of the company's stock valued at $102,000 after purchasing an additional 181 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of Palomar by 1.6% during the third quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the company's stock worth $1,202,000 after purchasing an additional 200 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Palomar during the third quarter worth about $25,000. Hedge funds and other institutional investors own 90.25% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Palomar

In other news, CEO Mac Armstrong sold 7,000 shares of the company's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $95.49, for a total value of $668,430.00. Following the completion of the sale, the chief executive officer now directly owns 440,388 shares of the company's stock, valued at approximately $42,052,650.12. This represents a 1.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Jon Christianson sold 3,805 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $103.04, for a total value of $392,067.20. Following the transaction, the president now directly owns 51,926 shares of the company's stock, valued at approximately $5,350,455.04. The trade was a 6.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,356 shares of company stock worth $2,802,955. 4.30% of the stock is currently owned by corporate insiders.

Palomar Trading Down 0.9 %

NASDAQ PLMR traded down $0.93 during trading hours on Thursday, reaching $103.81. 217,248 shares of the company traded hands, compared to its average volume of 162,973. The stock has a market capitalization of $2.75 billion, a PE ratio of 24.66 and a beta of 0.36. Palomar Holdings, Inc. has a 12 month low of $54.50 and a 12 month high of $112.90. The company has a 50 day moving average of $101.73 and a two-hundred day moving average of $94.32.

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

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.