Dynamic Technology Lab Private Ltd Invests $543,000 in Palomar Holdings, Inc. (NASDAQ:PLMR)

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,735 shares of the company's stock, valued at approximately $543,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in Palomar by 48.6% in the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company's stock valued at $36,000 after buying an additional 125 shares in the last quarter. Arizona State Retirement System grew its position in shares of Palomar by 2.4% in the second 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 stake in shares of Palomar by 20.2% during the 3rd 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 holdings in Palomar by 1.6% during the 3rd 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, CWM LLC boosted its stake in Palomar by 15.7% in the 2nd quarter. CWM LLC now owns 1,601 shares of the company's stock worth $130,000 after purchasing an additional 217 shares during the period. Institutional investors own 90.25% of the company's stock.

Palomar Stock Down 0.1 %

NASDAQ:PLMR traded down $0.14 during midday trading on Friday, hitting $108.30. The company had a trading volume of 85,704 shares, compared to its average volume of 163,432. The company has a market capitalization of $2.87 billion, a PE ratio of 25.72 and a beta of 0.34. Palomar Holdings, Inc. has a 52-week low of $54.50 and a 52-week high of $111.27. The stock's fifty day moving average price is $98.43 and its 200-day moving average price is $91.96.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.20. The firm had revenue of $148.50 million during the quarter, compared to analysts' expectations of $134.72 million. Palomar had a return on equity of 19.65% and a net margin of 21.55%. During the same period in the prior year, the business earned $0.80 EPS. As a group, research 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, CFO T Christopher Uchida sold 1,111 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $104.00, for a total transaction of $115,544.00. Following the transaction, the chief financial officer now directly owns 16,432 shares in the company, valued at $1,708,928. This trade represents a 6.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Jon Christianson sold 10,000 shares of the business's stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $94.40, for a total value of $944,000.00. Following the completion of the sale, the president now owns 51,926 shares of the company's stock, valued at $4,901,814.40. The trade was a 16.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,326 shares of company stock worth $3,632,779 over the last ninety days. Insiders own 4.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group upped their price target on Palomar from $110.00 to $113.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods increased their target price on shares of Palomar from $117.00 to $120.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. JPMorgan Chase & Co. boosted their price target on shares of Palomar from $93.00 to $100.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Evercore ISI increased their price objective on Palomar from $90.00 to $99.00 and gave the stock an "in-line" rating in a research report on Tuesday, August 6th. Finally, Truist Financial boosted their target price on Palomar from $100.00 to $112.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Palomar has an average rating of "Moderate Buy" and an average target price 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.