King Luther Capital Management Corp Increases Stake in Palomar Holdings, Inc. (NASDAQ:PLMR)

King Luther Capital Management Corp raised its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 1.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 88,630 shares of the company’s stock after acquiring an additional 1,071 shares during the period. King Luther Capital Management Corp owned approximately 0.35% of Palomar worth $8,391,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in 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 purchasing an additional 167,435 shares in the last quarter. F M Investments LLC purchased a new stake in shares of Palomar in the second quarter valued at approximately $11,946,000. Allspring Global Investments Holdings LLC grew its holdings in Palomar by 214.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 165,685 shares of the company’s stock worth $13,445,000 after acquiring an additional 112,996 shares during the period. Artemis Investment Management LLP raised its position in Palomar by 36.1% in the second quarter. Artemis Investment Management LLP now owns 339,464 shares of the company’s stock worth $27,548,000 after acquiring an additional 90,010 shares in the last quarter. Finally, Atlas Capital Advisors LLC lifted its holdings in Palomar by 167.7% in the second quarter. Atlas Capital Advisors LLC now owns 137,284 shares of the company’s stock valued at $11,141,000 after acquiring an additional 86,000 shares during the period. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PLMR. Jefferies Financial Group increased their price target on shares of Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Truist Financial increased their target price on shares of Palomar from $100.00 to $112.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Evercore ISI upped their price target on Palomar from $90.00 to $99.00 and gave the stock an “in-line” rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. lifted their price objective on Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods upped their target price on Palomar from $117.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Three 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $109.00.

Insider Transactions at Palomar

In other Palomar news, CFO T Christopher Uchida sold 1,111 shares of Palomar 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 completion of the sale, the chief financial officer now owns 16,432 shares in the company, valued at $1,708,928. The trade was a 6.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Jon Christianson sold 10,000 shares of the 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 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 ninety days. 4.30% of the stock is currently owned by corporate insiders.

Palomar Stock Performance

Shares of NASDAQ:PLMR opened at $108.67 on Friday. The business’s fifty day moving average price is $96.63 and its two-hundred day moving average price is $90.81. The stock has a market cap of $2.88 billion, a PE ratio of 25.75 and a beta of 0.34. Palomar Holdings, Inc. has a one year low of $54.50 and a one year high of $109.86.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.20. The firm had revenue of $148.50 million during 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 last year, the business posted $0.80 EPS. As a group, equities research analysts predict that Palomar Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.

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.