Geneva Capital Management LLC Raises Stock Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Geneva Capital Management LLC lifted its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR) by 0.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 340,763 shares of the company’s stock after purchasing an additional 1,009 shares during the quarter. Geneva Capital Management LLC’s holdings in Palomar were worth $32,260,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in shares of Palomar by 1,634.6% in the 2nd quarter. Victory Capital Management Inc. now owns 177,678 shares of the company’s stock valued at $14,419,000 after buying an additional 167,435 shares during the period. F M Investments LLC purchased a new stake in Palomar in the 2nd quarter worth approximately $11,946,000. Allspring Global Investments Holdings LLC grew its stake in shares of Palomar by 214.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 165,685 shares of the company’s stock worth $13,445,000 after purchasing an additional 112,996 shares during the period. Artemis Investment Management LLP increased its holdings in shares of Palomar by 36.1% during the 2nd quarter. Artemis Investment Management LLP now owns 339,464 shares of the company’s stock valued at $27,548,000 after purchasing an additional 90,010 shares in the last quarter. Finally, Atlas Capital Advisors LLC lifted its stake in shares of Palomar by 167.7% in the 2nd quarter. Atlas Capital Advisors LLC now owns 137,284 shares of the company’s stock valued at $11,141,000 after purchasing an additional 86,000 shares during the period. 90.25% of the stock is owned by hedge funds and other institutional investors.

Palomar Stock Performance

NASDAQ PLMR opened at $100.69 on Wednesday. The business has a fifty day moving average price of $95.31 and a 200 day moving average price of $89.64. The company has a market cap of $2.67 billion, a P/E ratio of 23.92 and a beta of 0.34. Palomar Holdings, Inc. has a one year low of $54.50 and a one year high of $107.00.

Palomar (NASDAQ:PLMR) last issued its earnings results on Monday, November 4th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.20. The business had revenue of $148.50 million during the quarter, compared to analysts’ expectations of $134.72 million. Palomar had a net margin of 21.55% and a return on equity of 19.65%. During the same period in the prior year, the business earned $0.80 earnings per share. As a group, sell-side analysts predict that Palomar Holdings, Inc. will post 4.32 EPS for the current fiscal year.

Insider Buying and Selling at Palomar

In other news, 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 transaction, the president now directly owns 51,926 shares in the company, valued at $4,901,814.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, President Jon Christianson sold 10,000 shares of Palomar 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 transaction, the president now owns 51,926 shares in the company, valued at approximately $4,901,814.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO T Christopher Uchida sold 1,111 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $104.00, for a total value of $115,544.00. Following the completion of the sale, the chief financial officer now owns 16,432 shares of the company’s stock, valued at approximately $1,708,928. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,076 shares of company stock worth $3,806,029. Insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

PLMR has been the subject of a number of recent analyst reports. Evercore ISI lifted their price objective 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. Keefe, Bruyette & Woods upped their price target on Palomar from $117.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Jefferies Financial Group increased their price target on Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Truist Financial upped 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. Finally, Piper Sandler lifted their price target on shares of Palomar from $105.00 to $110.00 and gave the company an “overweight” rating in a research note 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.