Seven Grand Managers LLC Invests $2.37 Million in Palomar Holdings, Inc. (NASDAQ:PLMR)

Seven Grand Managers LLC acquired a new position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 25,000 shares of the company's stock, valued at approximately $2,367,000. Seven Grand Managers LLC owned approximately 0.10% of Palomar as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in Palomar by 48.6% in the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company's stock valued at $36,000 after purchasing an additional 125 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Palomar in the second quarter valued at approximately $49,000. DekaBank Deutsche Girozentrale purchased a new position in Palomar in the first quarter worth approximately $59,000. Advisors Asset Management Inc. increased its stake in Palomar by 137.1% during the first quarter. Advisors Asset Management Inc. now owns 735 shares of the company's stock worth $62,000 after acquiring an additional 425 shares during the last quarter. Finally, Atwood & Palmer Inc. raised its position in Palomar by 66.7% in the first quarter. Atwood & Palmer Inc. now owns 750 shares of the company's stock valued at $63,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 90.25% of the company's stock.

Palomar Stock Down 0.6 %

PLMR stock traded down $0.62 during midday trading on Thursday, hitting $97.40. The company's stock had a trading volume of 104,707 shares, compared to its average volume of 164,640. Palomar Holdings, Inc. has a 52-week low of $48.08 and a 52-week high of $103.40. The firm has a 50-day simple moving average of $95.69 and a 200-day simple moving average of $87.72. The firm has a market capitalization of $2.43 billion, a P/E ratio of 27.99 and a beta of 0.33.

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PLMR shares. JPMorgan Chase & Co. increased their price target on Palomar from $88.00 to $91.00 and gave the stock a "neutral" rating in a report on Thursday, July 11th. Truist Financial lifted their price target on shares of Palomar from $100.00 to $112.00 and gave the company a "buy" rating in a research report on Thursday, August 8th. Jefferies Financial Group boosted their price target on shares of Palomar from $110.00 to $113.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods lifted 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. Finally, Piper Sandler boosted their target price on Palomar from $99.00 to $105.00 and gave the company an "overweight" rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Palomar currently has an average rating of "Moderate Buy" and an average target price of $105.50.

Insider Transactions at Palomar

In related news, CEO Mac Armstrong sold 7,000 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $95.49, for a total value of $668,430.00. Following the sale, the chief executive officer now owns 440,388 shares of the company's stock, valued at $42,052,650.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Mac Armstrong sold 7,000 shares of the business'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 owns 440,388 shares in the company, valued at approximately $42,052,650.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Jon Christianson sold 2,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $98.45, for a total value of $196,900.00. Following the completion of the transaction, the president now directly owns 51,926 shares in the company, valued at $5,112,114.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,520 shares of company stock valued at $2,952,526. 4.30% of the stock is currently 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.