Harbor Capital Advisors Inc. Acquires 15,416 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Harbor Capital Advisors Inc. grew its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 85.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,457 shares of the company's stock after purchasing an additional 15,416 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.13% of Palomar worth $3,167,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in PLMR. Whittier Trust Co. of Nevada Inc. acquired a new stake in Palomar in the third quarter valued at approximately $25,000. GAMMA Investing LLC raised its holdings in Palomar by 48.6% during the third quarter. GAMMA Investing LLC now owns 382 shares of the company's stock worth $36,000 after buying an additional 125 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Palomar by 490.9% in the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company's stock valued at $43,000 after buying an additional 378 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Palomar during the second quarter valued at about $49,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Palomar during the first quarter worth about $59,000. Institutional investors own 90.25% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods lifted their price target on Palomar from $96.00 to $113.00 and gave the company an "outperform" rating in a research note on Tuesday, August 13th. Truist Financial upped their price target on Palomar from $100.00 to $112.00 and gave the stock a "buy" rating in a report on Thursday, August 8th. Jefferies Financial Group raised their price objective on Palomar from $110.00 to $113.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Piper Sandler lifted their price objective on shares of Palomar from $99.00 to $105.00 and gave the stock an "overweight" rating in a report on Wednesday, August 7th. Finally, Evercore ISI increased their target price on shares of Palomar from $90.00 to $99.00 and gave the company an "in-line" rating in a report on Tuesday, August 6th. Three 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 company presently has an average rating of "Moderate Buy" and a consensus price target of $105.50.

Palomar Trading Up 0.1 %

Shares of NASDAQ:PLMR traded up $0.09 during midday trading on Monday, reaching $88.47. The company had a trading volume of 128,477 shares, compared to its average volume of 161,578. The stock has a market cap of $2.21 billion, a P/E ratio of 23.32 and a beta of 0.34. The company's 50 day moving average price is $95.65 and its 200 day moving average price is $88.99. Palomar Holdings, Inc. has a 52-week low of $54.50 and a 52-week high of $103.40.

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

Insider Activity at Palomar

In related news, President Jon Christianson sold 10,000 shares of the business's stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $94.40, for a total value of $944,000.00. Following the sale, the president now directly owns 51,926 shares in the company, valued at approximately $4,901,814.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Palomar news, Director Thomas A. Bradley acquired 1,000 shares of the business's stock in a transaction that occurred on 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 acquisition, the director now owns 4,724 shares in the company, valued at approximately $422,420.08. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Jon Christianson sold 10,000 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $94.40, for a total value of $944,000.00. Following the sale, the president now owns 51,926 shares in the company, valued at approximately $4,901,814.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,520 shares of company stock worth $3,626,486. Insiders own 4.30% of the company's stock.

Palomar 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.