Harbor Capital Advisors Inc. Has $4.53 Million Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Harbor Capital Advisors Inc. lifted its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 28.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,853 shares of the company's stock after acquiring an additional 9,396 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.16% of Palomar worth $4,525,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in Palomar by 48.6% during the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company's stock worth $36,000 after purchasing an additional 125 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Palomar by 2.4% during the second quarter. Arizona State Retirement System now owns 6,961 shares of the company's stock worth $565,000 after buying an additional 164 shares in the last quarter. Covestor Ltd raised its position in Palomar by 20.2% in the 3rd quarter. Covestor Ltd now owns 1,076 shares of the company's stock valued at $102,000 after buying an additional 181 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Palomar by 1.6% in the 3rd quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the company's stock valued at $1,202,000 after acquiring an additional 200 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in shares of Palomar during the 3rd quarter worth approximately $25,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Palomar news, President Jon Christianson sold 819 shares of the stock in a transaction on Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total transaction of $86,699.34. Following the transaction, the president now owns 55,126 shares in the company, valued at $5,835,638.36. This trade represents a 1.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mac Armstrong sold 3,185 shares of the business's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $98.21, for a total transaction of $312,798.85. Following the completion of the sale, the chief executive officer now directly owns 50,312 shares of the company's stock, valued at approximately $4,941,141.52. The trade was a 5.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,909 shares of company stock valued at $3,242,655 over the last ninety days. 4.30% of the stock is currently owned by company insiders.

Palomar Stock Performance

Palomar stock traded down $4.36 during midday trading on Friday, reaching $101.51. 158,312 shares of the company's stock were exchanged, compared to its average volume of 136,785. The stock's 50-day simple moving average is $105.26 and its 200 day simple moving average is $96.95. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 24.11 and a beta of 0.38. Palomar Holdings, Inc. has a 52 week low of $56.67 and a 52 week high of $112.90.

Palomar (NASDAQ:PLMR - Get Free Report) last issued its 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. 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 the consensus estimate of $134.72 million. During the same period in the previous year, the company posted $0.80 EPS. Research analysts forecast that Palomar Holdings, Inc. will post 4.33 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on PLMR shares. JPMorgan Chase & Co. boosted their price objective 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. Keefe, Bruyette & Woods increased their price objective on shares of Palomar from $120.00 to $136.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. Jefferies Financial Group lifted their target price on Palomar from $110.00 to $113.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Finally, Piper Sandler increased their price target on Palomar from $119.00 to $133.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $115.50.

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.