Bridgewater Associates LP Has $1.65 Million Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Bridgewater Associates LP lifted its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 81.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,429 shares of the company's stock after acquiring an additional 7,835 shares during the quarter. Bridgewater Associates LP owned about 0.07% of Palomar worth $1,650,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its position in shares of Palomar by 15.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 508,870 shares of the company's stock worth $41,295,000 after purchasing an additional 66,478 shares during the last quarter. Emerald Advisers LLC lifted its holdings in shares of Palomar by 1.9% during the third quarter. Emerald Advisers LLC now owns 449,973 shares of the company's stock worth $42,599,000 after buying an additional 8,601 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in shares of Palomar by 24.5% in the third quarter. Westfield Capital Management Co. LP now owns 394,408 shares of the company's stock worth $37,339,000 after acquiring an additional 77,552 shares during the last quarter. Artemis Investment Management LLP increased its position in Palomar by 12.9% during the third quarter. Artemis Investment Management LLP now owns 383,276 shares of the company's stock worth $36,285,000 after acquiring an additional 43,812 shares during the period. Finally, Geneva Capital Management LLC boosted its holdings in Palomar by 0.3% in the 3rd quarter. Geneva Capital Management LLC now owns 340,763 shares of the company's stock valued at $32,260,000 after purchasing an additional 1,009 shares during the period. 90.25% of the stock is owned by institutional investors.

Insider Transactions at Palomar

In other Palomar news, President Jon Christianson sold 10,000 shares of the business's stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $94.40, for a total transaction of $944,000.00. Following the completion of the sale, the president now directly owns 51,926 shares of the company's stock, valued at approximately $4,901,814.40. The trade was a 16.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO T Christopher Uchida sold 1,030 shares of the firm's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $97.65, for a total transaction of $100,579.50. Following the completion of the transaction, the chief financial officer now directly owns 17,543 shares in the company, valued at $1,713,073.95. This trade represents a 5.55 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,326 shares of company stock worth $3,632,779. Corporate insiders own 4.30% of the company's stock.

Palomar Trading Up 0.7 %

NASDAQ PLMR traded up $0.73 during trading hours on Monday, reaching $109.03. 104,041 shares of the company's stock were exchanged, compared to its average volume of 163,176. The firm has a fifty day moving average of $98.43 and a 200-day moving average of $92.07. Palomar Holdings, Inc. has a one year low of $54.50 and a one year high of $111.27. The stock has a market cap of $2.89 billion, a PE ratio of 25.72 and a beta of 0.34.

Palomar (NASDAQ:PLMR - Get Free Report) last announced its 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 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 analyst estimates of $134.72 million. During the same period last year, the company posted $0.80 earnings per share. As a group, research analysts forecast that Palomar Holdings, Inc. will post 4.33 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PLMR shares. Piper Sandler lifted their target price on Palomar from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Jefferies Financial Group upped their target price on 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. lifted their price target 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. Evercore ISI increased their price objective on shares of Palomar from $90.00 to $99.00 and gave the company an "in-line" rating in a research note on Tuesday, August 6th. Finally, Truist Financial lifted their target price on shares of Palomar from $100.00 to $112.00 and gave the company a "buy" rating in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Palomar presently has a consensus rating of "Moderate Buy" and an average price target of $109.00.

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.