Moody Aldrich Partners LLC Makes New $2.56 Million Investment in Palomar Holdings, Inc. (NASDAQ:PLMR)

Moody Aldrich Partners LLC purchased a new stake in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,052 shares of the company's stock, valued at approximately $2,561,000. Moody Aldrich Partners LLC owned about 0.11% of Palomar as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Palomar by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 2,363,067 shares of the company's stock valued at $131,150,000 after purchasing an additional 85,329 shares during the period. Artemis Investment Management LLP purchased a new stake in Palomar in the 1st quarter valued at $20,904,000. Diversified Trust Co increased its stake in Palomar by 35.7% in the first quarter. Diversified Trust Co now owns 11,400 shares of the company's stock valued at $956,000 after purchasing an additional 3,000 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Palomar in the first quarter valued at about $4,417,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Palomar by 2.9% during the first quarter. Principal Financial Group Inc. now owns 141,883 shares of the company's stock worth $11,894,000 after buying an additional 3,963 shares during the period. Institutional investors and hedge funds own 90.25% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on PLMR shares. Truist Financial upped their price objective on Palomar from $100.00 to $112.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. Jefferies Financial Group increased 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. Keefe, Bruyette & Woods lifted their price objective on shares of Palomar from $96.00 to $113.00 and gave the company an "outperform" rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. upped their price objective on shares of Palomar from $88.00 to $91.00 and gave the stock a "neutral" rating in a research report on Thursday, July 11th. Finally, Piper Sandler lifted their target price on shares of Palomar from $99.00 to $105.00 and gave the company an "overweight" rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $105.50.

Insider Buying and Selling at Palomar

In related news, Director Thomas A. Bradley purchased 1,000 shares of the company's stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of $89.42 per share, for a total transaction of $89,420.00. Following the transaction, the director now owns 4,724 shares of the company's stock, valued at $422,420.08. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO T Christopher Uchida sold 1,750 shares of Palomar stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $99.00, for a total transaction of $173,250.00. Following the transaction, the chief financial officer now directly owns 20,594 shares of the company's stock, valued at $2,038,806. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 acquired at an average cost of $89.42 per share, with a total value of $89,420.00. Following the completion of the purchase, the director now owns 4,724 shares of the company's stock, valued at approximately $422,420.08. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 37,520 shares of company stock valued at $3,626,486 in the last three months. Corporate insiders own 4.30% of the company's stock.

Palomar Price Performance

PLMR stock traded up $0.38 during midday trading on Thursday, hitting $94.57. The stock had a trading volume of 122,308 shares, compared to its average volume of 162,636. The firm has a market cap of $2.37 billion, a PE ratio of 24.95 and a beta of 0.33. The company's 50-day moving average price is $96.19 and its 200 day moving average price is $88.20. Palomar Holdings, Inc. has a 12-month low of $48.65 and a 12-month high of $103.40.

Palomar (NASDAQ:PLMR - Get Free Report) last released its quarterly earnings data on Monday, August 5th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.16. The company had revenue of $123.08 million during the quarter, compared to the consensus estimate of $338.74 million. Palomar had a net margin of 21.63% and a return on equity of 20.83%. Palomar's revenue for the quarter was up 47.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 earnings per share. As a group, sell-side analysts anticipate that Palomar Holdings, Inc. will post 4.35 EPS for the current year.

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.