Quantbot Technologies LP Has $1.98 Million Stake in Palomar Holdings, Inc. (NASDAQ:PLMR)

Quantbot Technologies LP increased its stake in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 97.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,895 shares of the company's stock after acquiring an additional 10,291 shares during the period. Quantbot Technologies LP owned approximately 0.08% of Palomar worth $1,978,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Driehaus Capital Management LLC boosted its stake in Palomar by 17.1% during the 2nd quarter. Driehaus Capital Management LLC now owns 300,213 shares of the company's stock valued at $24,362,000 after purchasing an additional 43,841 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Palomar by 1,634.6% during the second quarter. Victory Capital Management Inc. now owns 177,678 shares of the company's stock worth $14,419,000 after acquiring an additional 167,435 shares during the period. Vanguard Group Inc. raised its position in Palomar by 1.7% in the first quarter. Vanguard Group Inc. now owns 2,403,520 shares of the company's stock worth $201,487,000 after acquiring an additional 40,453 shares in the last quarter. Moran Wealth Management LLC acquired a new stake in Palomar in the 3rd quarter valued at about $547,000. Finally, Thrivent Financial for Lutherans boosted its position in shares of Palomar by 58.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 32,837 shares of the company's stock valued at $3,109,000 after purchasing an additional 12,147 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on PLMR shares. Truist Financial boosted their target price on shares of Palomar from $100.00 to $112.00 and gave the stock a "buy" rating in a report on Thursday, August 8th. Evercore ISI increased their price objective on Palomar from $90.00 to $99.00 and gave the company an "in-line" rating in a research report on Tuesday, August 6th. Keefe, Bruyette & Woods raised their price objective on Palomar from $117.00 to $120.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. JPMorgan Chase & Co. boosted their target price on Palomar from $93.00 to $100.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Finally, Piper Sandler upped their target price on Palomar from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Palomar currently has an average rating of "Moderate Buy" and an average target price of $109.00.

Insider Buying and Selling at Palomar

In other Palomar news, CEO Mac Armstrong sold 3,185 shares of Palomar stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $98.21, for a total value of $312,798.85. Following the completion of the sale, the chief executive officer now directly owns 50,312 shares in the company, valued at $4,941,141.52. The trade was a 5.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Jon Christianson sold 10,000 shares of the business'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 transaction of $944,000.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,326 shares of company stock worth $3,632,779. 4.30% of the stock is currently owned by company insiders.

Palomar Stock Down 0.1 %

Shares of Palomar stock traded down $0.14 during midday trading on Friday, hitting $108.30. The company's stock had a trading volume of 85,704 shares, compared to its average volume of 163,432. Palomar Holdings, Inc. has a 1-year low of $54.50 and a 1-year high of $111.27. The firm has a market capitalization of $2.87 billion, a P/E ratio of 25.76 and a beta of 0.34. The stock has a 50-day simple moving average of $98.17 and a 200-day simple moving average of $91.78.

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 the consensus estimate of $1.03 by $0.20. The company had revenue of $148.50 million for the quarter, compared to analysts' expectations of $134.72 million. Palomar had a return on equity of 19.65% and a net margin of 21.55%. During the same quarter in the previous year, the business posted $0.80 EPS. As a group, sell-side analysts predict that Palomar Holdings, Inc. will post 4.33 earnings per share for the current 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.