Victory Capital Management Inc. Acquires 13,064 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Victory Capital Management Inc. raised its stake in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 7.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,742 shares of the company's stock after acquiring an additional 13,064 shares during the period. Victory Capital Management Inc. owned approximately 0.76% of Palomar worth $18,058,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Palomar during the 3rd quarter worth approximately $25,000. GAMMA Investing LLC boosted its holdings in shares of 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 in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Palomar by 490.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company's stock valued at $43,000 after purchasing an additional 378 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Palomar during the 2nd quarter worth $49,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Palomar during the 1st quarter worth $59,000. 90.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Truist Financial boosted their target price on Palomar from $100.00 to $112.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th. Keefe, Bruyette & Woods upped their price objective 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. Evercore ISI raised their target price on shares of Palomar from $90.00 to $99.00 and gave the company an "in-line" rating in a research report on Tuesday, August 6th. Piper Sandler boosted their target price on shares of Palomar from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. Finally, Jefferies Financial Group increased their price target on Palomar from $110.00 to $113.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Three research 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 presently has an average rating of "Moderate Buy" and a consensus price target of $109.00.

Insider Buying and Selling at Palomar

In other news, CFO T Christopher Uchida sold 1,111 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $104.00, for a total value of $115,544.00. Following the transaction, the chief financial officer now directly owns 16,432 shares of the company's stock, valued at $1,708,928. The trade was a 6.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 sale, the president now directly owns 51,926 shares of the company's stock, valued at $4,901,814.40. This represents a 16.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,076 shares of company stock valued at $3,806,029. 4.30% of the stock is currently owned by company insiders.

Palomar Stock Performance

Shares of NASDAQ:PLMR traded down $1.32 during mid-day trading on Tuesday, reaching $107.16. 97,794 shares of the company's stock were exchanged, compared to its average volume of 163,566. Palomar Holdings, Inc. has a twelve month low of $54.50 and a twelve month high of $109.44. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 25.56 and a beta of 0.34. The business's fifty day moving average price is $96.03 and its 200-day moving average price is $90.50.

Palomar (NASDAQ:PLMR - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.03 by $0.20. Palomar had a return on equity of 19.65% and a net margin of 21.55%. The firm had revenue of $148.50 million for the quarter, compared to the consensus estimate of $134.72 million. During the same period in the previous year, the business earned $0.80 EPS. Analysts predict that Palomar Holdings, Inc. will post 4.32 EPS for the current fiscal year.

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.