Sei Investments Co. Boosts Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Sei Investments Co. grew its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 12.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 82,338 shares of the company's stock after acquiring an additional 8,837 shares during the quarter. Sei Investments Co. owned 0.33% of Palomar worth $6,682,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. King Luther Capital Management Corp raised its stake in shares of Palomar by 3.8% during the second quarter. King Luther Capital Management Corp now owns 87,559 shares of the company's stock worth $7,105,000 after acquiring an additional 3,171 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Palomar during the second quarter worth approximately $351,000. Hsbc Holdings PLC raised its stake in shares of Palomar by 43.1% during the second quarter. Hsbc Holdings PLC now owns 12,889 shares of the company's stock worth $1,044,000 after acquiring an additional 3,879 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Palomar by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 508,870 shares of the company's stock worth $41,295,000 after acquiring an additional 66,478 shares in the last quarter. Finally, WINTON GROUP Ltd raised its stake in shares of Palomar by 4.5% during the second quarter. WINTON GROUP Ltd now owns 13,679 shares of the company's stock worth $1,110,000 after acquiring an additional 590 shares in the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Palomar Stock Down 0.2 %

NASDAQ:PLMR opened at $94.67 on Tuesday. The stock has a market cap of $2.37 billion, a P/E ratio of 27.20 and a beta of 0.34. The firm's fifty day simple moving average is $94.12 and its 200 day simple moving average is $86.46. Palomar Holdings, Inc. has a twelve month low of $48.08 and a twelve month high of $100.29.

Palomar (NASDAQ:PLMR - Get Free Report) last announced its quarterly earnings data on Monday, August 5th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.09 by $0.16. The business had revenue of $123.08 million during the quarter, compared to analyst estimates of $338.74 million. Palomar had a return on equity of 20.83% and a net margin of 21.63%. The company's revenue for the quarter was up 47.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 earnings per share. On average, analysts expect that Palomar Holdings, Inc. will post 4.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Palomar

In other Palomar news, CEO Mac Armstrong sold 12,227 shares of the firm's stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $91.08, for a total transaction of $1,113,635.16. Following the completion of the transaction, the chief executive officer now owns 47,082 shares of the company's stock, valued at $4,288,228.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Palomar news, CEO Mac Armstrong sold 12,227 shares of the firm's stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $91.08, for a total transaction of $1,113,635.16. Following the completion of the transaction, the chief executive officer now owns 47,082 shares of the company's stock, valued at $4,288,228.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas A. Bradley purchased 1,000 shares of the 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 transaction, the director now owns 4,724 shares in the company, valued at $422,420.08. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 48,500 shares of company stock valued at $4,464,266. 4.30% of the stock is currently 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.