Westfield Capital Management Co. LP Has $37.34 Million Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Westfield Capital Management Co. LP increased its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 24.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 394,408 shares of the company's stock after acquiring an additional 77,552 shares during the quarter. Westfield Capital Management Co. LP owned approximately 1.49% of Palomar worth $37,339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLMR. Driehaus Capital Management LLC boosted its position in shares of Palomar by 17.1% during the second quarter. Driehaus Capital Management LLC now owns 300,213 shares of the company's stock worth $24,362,000 after buying an additional 43,841 shares during the period. Victory Capital Management Inc. raised its position in shares of Palomar by 1,634.6% during the 2nd 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 in the last quarter. Vanguard Group Inc. grew its position in shares of Palomar by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 2,403,520 shares of the company's stock valued at $201,487,000 after buying an additional 40,453 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in Palomar in the third quarter valued at $731,000. Finally, Moran Wealth Management LLC acquired a new stake in shares of Palomar in the 3rd quarter valued at about $547,000. Institutional investors and hedge funds own 90.25% of the company's stock.

Palomar Stock Up 0.7 %

NASDAQ PLMR traded up $0.71 during trading hours on Monday, hitting $109.03. The company had a trading volume of 237,751 shares, compared to its average volume of 163,592. The firm has a market cap of $2.89 billion, a P/E ratio of 25.73 and a beta of 0.34. The business has a fifty day simple moving average of $97.22 and a 200-day simple moving average of $91.19. Palomar Holdings, Inc. has a fifty-two week low of $54.50 and a fifty-two week high of $110.98.

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 analysts' expectations of $134.72 million. During the same quarter in the previous year, the company earned $0.80 earnings per share. Equities analysts forecast that Palomar Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Insider Activity at Palomar

In other news, President Jon Christianson sold 10,000 shares of the company's stock in a transaction dated 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 owns 51,926 shares in the company, valued at approximately $4,901,814.40. This represents a 16.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mac Armstrong sold 7,000 shares of Palomar 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 completion of the transaction, the chief executive officer now directly owns 440,388 shares in the company, valued at approximately $42,052,650.12. This represents a 1.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,326 shares of company stock worth $3,632,779. 4.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PLMR shares. Jefferies Financial Group boosted their price target on Palomar from $110.00 to $113.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Truist Financial upped their target price on shares of Palomar from $100.00 to $112.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised their price target on Palomar from $93.00 to $100.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Evercore ISI upped their price target 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. Finally, Piper Sandler boosted their price target on Palomar from $105.00 to $110.00 and gave the stock 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $109.00.

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.