Natixis Advisors LLC Buys Shares of 10,635 Palomar Holdings, Inc. (NASDAQ:PLMR)

Natixis Advisors LLC acquired a new position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 10,635 shares of the company's stock, valued at approximately $1,007,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Geneva Capital Management LLC increased its stake in shares of Palomar by 0.3% during the third quarter. Geneva Capital Management LLC now owns 340,763 shares of the company's stock valued at $32,260,000 after acquiring an additional 1,009 shares during the period. Victory Capital Management Inc. increased its position in shares of Palomar by 7.4% during the 3rd quarter. Victory Capital Management Inc. now owns 190,742 shares of the company's stock valued at $18,058,000 after purchasing an additional 13,064 shares during the period. Covestor Ltd raised its stake in shares of Palomar by 20.2% in the 3rd quarter. Covestor Ltd now owns 1,076 shares of the company's stock worth $102,000 after buying an additional 181 shares in the last quarter. Summit Global Investments acquired a new stake in shares of Palomar in the third quarter valued at $260,000. Finally, Kornitzer Capital Management Inc. KS boosted its stake in Palomar by 0.8% during the third quarter. Kornitzer Capital Management Inc. KS now owns 162,973 shares of the company's stock valued at $15,429,000 after buying an additional 1,300 shares in the last quarter. 90.25% of the stock is owned by institutional investors.

Insider Activity

In other Palomar news, CEO Mac Armstrong sold 7,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 440,388 shares in the company, valued at $42,052,650.12. This trade represents a 1.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Jon Christianson sold 10,000 shares of the firm's stock in a transaction that occurred 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 transaction, the president now owns 51,926 shares in the company, valued at approximately $4,901,814.40. The trade was a 16.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,326 shares of company stock worth $3,632,779 over the last quarter. 4.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PLMR shares. Keefe, Bruyette & Woods boosted their price target on shares of Palomar from $117.00 to $120.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Jefferies Financial Group increased their price target on shares of Palomar from $110.00 to $113.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Piper Sandler upped their target price on Palomar from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. JPMorgan Chase & Co. raised their price target on shares of Palomar from $93.00 to $100.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Finally, Truist Financial upped their target price on Palomar from $100.00 to $112.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $109.00.

Palomar Trading Down 0.3 %

Palomar stock traded down $0.36 during mid-day trading on Wednesday, reaching $108.44. The company had a trading volume of 115,845 shares, compared to its average volume of 163,771. The company has a market cap of $2.87 billion, a P/E ratio of 25.76 and a beta of 0.34. Palomar Holdings, Inc. has a fifty-two week low of $54.50 and a fifty-two week high of $111.27. The business has a fifty day simple moving average of $97.93 and a 200 day simple moving average of $91.66.

Palomar (NASDAQ:PLMR - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.20. Palomar had a net margin of 21.55% and a return on equity of 19.65%. The business had revenue of $148.50 million during the quarter, compared to the consensus estimate of $134.72 million. During the same quarter in the prior year, the firm posted $0.80 EPS. Research analysts forecast that Palomar Holdings, Inc. will post 4.33 EPS for the current year.

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.