Janus Henderson Group PLC Buys 21,537 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Janus Henderson Group PLC grew its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 91.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,025 shares of the company's stock after acquiring an additional 21,537 shares during the period. Janus Henderson Group PLC owned about 0.17% of Palomar worth $4,260,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PLMR. HighTower Advisors LLC purchased a new stake in Palomar during the 3rd quarter worth approximately $1,711,000. Centiva Capital LP bought a new position in Palomar during the 3rd quarter valued at $352,000. PDT Partners LLC grew its holdings in Palomar by 84.9% during the 3rd 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 increased its position in shares of Palomar by 45.4% in the 3rd quarter. Martingale Asset Management L P now owns 9,609 shares of the company's stock worth $910,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its position in shares of Palomar by 1.3% during the third 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. 90.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLMR has been the topic of several research reports. Piper Sandler upped their price objective on Palomar from $105.00 to $110.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Keefe, Bruyette & Woods increased their target price on shares of Palomar from $120.00 to $136.00 and gave the stock an "outperform" rating in a report on Friday, December 6th. Jefferies Financial Group raised their price target on Palomar from $110.00 to $113.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upped their price objective on Palomar from $93.00 to $100.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Palomar currently has a consensus rating of "Moderate Buy" and a consensus price target of $111.67.

Insider Activity at Palomar

In related news, CEO Mac Armstrong sold 7,000 shares of Palomar stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $95.49, for a total value of $668,430.00. Following the transaction, the chief executive officer now directly owns 440,388 shares in the company, valued at $42,052,650.12. The trade was a 1.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO T Christopher Uchida sold 1,030 shares of the business's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $97.65, for a total value of $100,579.50. Following the sale, the chief financial officer now owns 17,543 shares in the company, valued at approximately $1,713,073.95. The trade was a 5.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,326 shares of company stock valued at $2,688,779 over the last 90 days. 4.30% of the stock is currently owned by corporate insiders.

Palomar Price Performance

Shares of NASDAQ PLMR traded up $2.77 during midday trading on Wednesday, reaching $108.45. 210,356 shares of the company traded hands, compared to its average volume of 162,850. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 25.76 and a beta of 0.36. The stock has a 50-day moving average price of $100.54 and a 200 day moving average price of $93.41. Palomar Holdings, Inc. has a 52 week low of $54.50 and a 52 week high of $112.10.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.20. The business had revenue of $148.50 million for the quarter, compared to analyst estimates of $134.72 million. Palomar had a net margin of 21.55% and a return on equity of 19.65%. During the same quarter last year, the business earned $0.80 earnings per share. As a group, analysts expect that Palomar Holdings, Inc. will post 4.33 EPS for the current year.

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.