18,067 Shares in Palomar Holdings, Inc. (NASDAQ:PLMR) Purchased by HighTower Advisors LLC

HighTower Advisors LLC purchased a new position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,067 shares of the company's stock, valued at approximately $1,711,000. HighTower Advisors LLC owned about 0.07% of Palomar as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Centiva Capital LP acquired a new stake in Palomar in the third quarter worth approximately $352,000. PDT Partners LLC raised its position in Palomar by 84.9% in the third quarter. PDT Partners LLC now owns 5,816 shares of the company's stock worth $551,000 after acquiring an additional 2,671 shares in the last quarter. Martingale Asset Management L P lifted its holdings in Palomar by 45.4% in the 3rd quarter. Martingale Asset Management L P now owns 9,609 shares of the company's stock valued at $910,000 after acquiring an additional 3,000 shares during the last quarter. Public Sector Pension Investment Board grew its stake in shares of Palomar by 1.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 55,565 shares of the company's stock worth $5,260,000 after purchasing an additional 700 shares during the last quarter. Finally, Glenmede Trust Co. NA acquired a new stake in Palomar during the third quarter valued at approximately $352,000. Institutional investors and hedge funds own 90.25% of the company's stock.

Palomar Trading Up 2.3 %

NASDAQ PLMR traded up $2.50 during trading on Monday, hitting $112.17. 137,894 shares of the company traded hands, compared to its average volume of 162,352. The business has a fifty day simple moving average of $100.92 and a 200 day simple moving average of $93.87. Palomar Holdings, Inc. has a 12 month low of $54.50 and a 12 month high of $112.50. The company has a market capitalization of $2.97 billion, a P/E ratio of 26.05 and a beta of 0.36.

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 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 in the previous year, the company earned $0.80 earnings per share. Equities research analysts predict that Palomar Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised their price objective on 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 shares of Palomar from $110.00 to $113.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Piper Sandler lifted their price objective on shares of Palomar from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their price target on Palomar from $93.00 to $100.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Three 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, Palomar currently has a consensus rating of "Moderate Buy" and a consensus target price of $111.67.

Insider Transactions at Palomar

In other Palomar news, President Jon Christianson sold 2,000 shares of the company's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $98.45, for a total transaction of $196,900.00. Following the sale, the president now directly owns 51,926 shares of the company's stock, valued at approximately $5,112,114.70. This represents a 3.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO T Christopher Uchida sold 1,030 shares of Palomar stock in a transaction that occurred on 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 owns 17,543 shares of the company's stock, 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. In the last quarter, insiders have sold 27,326 shares of company stock valued at $2,688,779. 4.30% of the stock is owned by corporate insiders.

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.