Intech Investment Management LLC Grows Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Intech Investment Management LLC increased its position in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 109.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,040 shares of the company's stock after purchasing an additional 4,714 shares during the period. Intech Investment Management LLC's holdings in Palomar were worth $856,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. purchased a new position in Palomar during the 3rd quarter valued at about $25,000. GAMMA Investing LLC boosted its position in shares of Palomar by 48.6% in 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. Farther Finance Advisors LLC boosted its position in shares of Palomar by 490.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company's stock worth $43,000 after purchasing an additional 378 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Palomar in the 2nd quarter worth approximately $49,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Palomar during the 1st quarter valued at approximately $59,000. Institutional investors own 90.25% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PLMR shares. Piper Sandler increased their target price on Palomar from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their price objective on shares of Palomar from $93.00 to $100.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Jefferies Financial Group upped their target price on shares of Palomar from $110.00 to $113.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Evercore ISI upped their price target on Palomar from $90.00 to $99.00 and gave the company an "in-line" rating in a report on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Palomar from $117.00 to $120.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $109.00.

Palomar Trading Down 0.1 %

Palomar stock traded down $0.14 during midday trading on Friday, hitting $108.30. The stock had a trading volume of 85,704 shares, compared to its average volume of 163,432. Palomar Holdings, Inc. has a 52-week low of $54.50 and a 52-week high of $111.27. The company has a market capitalization of $2.87 billion, a PE ratio of 25.76 and a beta of 0.34. The firm's fifty day moving average is $98.17 and its two-hundred day moving average is $91.78.

Palomar (NASDAQ:PLMR - Get Free Report) last released 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 net margin of 21.55% and a return on equity of 19.65%. The company had revenue of $148.50 million for the quarter, compared to analysts' expectations of $134.72 million. During the same quarter in the previous year, the company earned $0.80 EPS. As a group, equities research analysts predict that Palomar Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Mac Armstrong sold 7,000 shares of the firm's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $95.49, for a total transaction of $668,430.00. Following the completion of the transaction, the chief executive officer now directly owns 440,388 shares of the company's stock, valued at approximately $42,052,650.12. This trade represents a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Jon Christianson sold 10,000 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $94.40, for a total transaction of $944,000.00. Following the transaction, the president now directly owns 51,926 shares of the company's stock, valued at $4,901,814.40. This trade represents 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. Corporate insiders own 4.30% of the company's stock.

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.