Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Acquired by King Luther Capital Management Corp

King Luther Capital Management Corp increased its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 1.2% in the third quarter, Holdings Channel reports. The firm owned 88,630 shares of the company’s stock after purchasing an additional 1,071 shares during the quarter. King Luther Capital Management Corp’s holdings in Palomar were worth $8,391,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of Palomar by 48.6% in the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $36,000 after acquiring an additional 125 shares in the last quarter. Arizona State Retirement System boosted its holdings in Palomar by 2.4% in the second quarter. Arizona State Retirement System now owns 6,961 shares of the company’s stock worth $565,000 after purchasing an additional 164 shares during the period. Covestor Ltd increased its stake in Palomar by 20.2% during the third quarter. Covestor Ltd now owns 1,076 shares of the company’s stock valued at $102,000 after purchasing an additional 181 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Palomar by 1.6% during the third quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the company’s stock worth $1,202,000 after purchasing an additional 200 shares during the period. Finally, CWM LLC lifted its position in shares of Palomar by 15.7% in the 2nd quarter. CWM LLC now owns 1,601 shares of the company’s stock worth $130,000 after buying an additional 217 shares during the last quarter. 90.25% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO T Christopher Uchida sold 1,030 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $97.65, for a total transaction of $100,579.50. Following the completion of the sale, the chief financial officer now directly owns 17,543 shares of the company’s stock, valued at $1,713,073.95. This represents a 5.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Jon Christianson sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $98.45, for a total transaction of $196,900.00. Following the sale, the president now owns 51,926 shares of the company’s stock, valued at $5,112,114.70. The trade was a 3.71 % 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 90 days. 4.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PLMR has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their price objective on shares of Palomar from $117.00 to $120.00 and gave the company an “outperform” rating in a research 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 boosted their price objective on Palomar from $100.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Piper Sandler increased their target price on Palomar from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.00.

Palomar Price Performance

Shares of Palomar stock opened at $108.67 on Friday. Palomar Holdings, Inc. has a 1-year low of $54.50 and a 1-year high of $109.86. The business’s fifty day moving average price is $96.63 and its two-hundred day moving average price is $90.81. The company has a market capitalization of $2.88 billion, a P/E ratio of 25.75 and a beta of 0.34.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.20. The business had revenue of $148.50 million for 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 previous year, the business earned $0.80 earnings per share. On average, research analysts expect 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.