Atlas Capital Advisors LLC Has $11.14 Million Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Atlas Capital Advisors LLC grew its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 167.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 137,284 shares of the company's stock after purchasing an additional 86,000 shares during the quarter. Palomar makes up 1.4% of Atlas Capital Advisors LLC's holdings, making the stock its 12th biggest holding. Atlas Capital Advisors LLC owned approximately 0.55% of Palomar worth $11,141,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. F M Investments LLC bought a new stake in shares of Palomar in the second quarter worth $11,946,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Palomar by 8.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,833 shares of the company's stock valued at $636,000 after buying an additional 594 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Palomar by 214.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 165,685 shares of the company's stock valued at $13,445,000 after buying an additional 112,996 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Palomar by 2.5% in the second quarter. Louisiana State Employees Retirement System now owns 12,500 shares of the company's stock valued at $1,014,000 after buying an additional 300 shares during the period. Finally, Diversified Trust Co raised its position in shares of Palomar by 2.6% during the second quarter. Diversified Trust Co now owns 11,700 shares of the company's stock worth $949,000 after acquiring an additional 300 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors.

Palomar Stock Up 0.4 %

PLMR traded up $0.42 during midday trading on Friday, hitting $99.22. The company had a trading volume of 169,507 shares, compared to its average volume of 165,943. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 28.51 and a beta of 0.31. The stock's 50 day moving average price is $89.33 and its 200 day moving average price is $83.15. Palomar Holdings, Inc. has a 52 week low of $48.08 and a 52 week high of $99.74.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly earnings results on Monday, August 5th. The company reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.16. The business had revenue of $123.08 million for the quarter, compared to the consensus estimate of $338.74 million. Palomar had a return on equity of 20.83% and a net margin of 21.63%. The firm's revenue for the quarter was up 47.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 EPS. Research analysts predict that Palomar Holdings, Inc. will post 4.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PLMR shares. Evercore ISI upped their target price on Palomar from $90.00 to $99.00 and gave the company an "in-line" rating in a report on Tuesday, August 6th. Truist Financial increased their price objective on shares of Palomar from $100.00 to $112.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Keefe, Bruyette & Woods boosted their target price on shares of Palomar from $96.00 to $113.00 and gave the company an "outperform" rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. upped their price target on shares of Palomar from $88.00 to $91.00 and gave the company a "neutral" rating in a research report on Thursday, July 11th. Finally, Piper Sandler lifted their price objective on Palomar from $99.00 to $105.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $101.33.

Insider Activity at Palomar

In other Palomar news, Director Thomas A. Bradley bought 1,000 shares of the firm's stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of $89.42 per share, with a total value of $89,420.00. Following the completion of the transaction, the director now directly owns 4,724 shares in the company, valued at approximately $422,420.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Thomas A. Bradley bought 1,000 shares of the business's stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average price of $89.42 per share, with a total value of $89,420.00. Following the completion of the transaction, the director now directly owns 4,724 shares in the company, valued at $422,420.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Jon Christianson sold 2,000 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $81.21, for a total value of $162,420.00. Following the completion of the sale, the president now directly owns 53,761 shares of the company's stock, valued at $4,365,930.81. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,500 shares of company stock valued at $3,644,146. 4.30% of the stock is owned by company 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.

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