2,368 Shares in Palomar Holdings, Inc. (NASDAQ:PLMR) Purchased by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC purchased a new stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,368 shares of the company’s stock, valued at approximately $224,000.

Other large investors have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Palomar during the 3rd quarter valued at approximately $25,000. GAMMA Investing LLC increased its position in Palomar by 48.6% in the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $36,000 after buying an additional 125 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Palomar by 490.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $43,000 after buying an additional 378 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Palomar during the 2nd quarter valued at $49,000. Finally, Covestor Ltd grew its stake in shares of Palomar by 20.2% during the 3rd quarter. Covestor Ltd now owns 1,076 shares of the company’s stock worth $102,000 after acquiring an additional 181 shares during the period. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Wall Street Analyst Weigh In

PLMR has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their price objective on Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods boosted their price target on shares of Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Piper Sandler upped 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. Finally, Jefferies Financial Group lifted their price objective on shares of Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $111.67.

Palomar Trading Up 2.6 %

Shares of Palomar stock opened at $108.45 on Thursday. The company’s 50-day moving average price is $100.54 and its 200-day moving average price is $93.41. Palomar Holdings, Inc. has a 12-month low of $54.50 and a 12-month high of $112.10. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 25.76 and a beta of 0.36.

Palomar (NASDAQ:PLMR) last posted its earnings results on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.20. Palomar had a net margin of 21.55% and a return on equity of 19.65%. The business had revenue of $148.50 million for the quarter, compared to analyst estimates of $134.72 million. During the same quarter in the prior year, the firm posted $0.80 EPS. On average, sell-side analysts predict that Palomar Holdings, Inc. will post 4.33 earnings per share for the current year.

Insider Buying and Selling at Palomar

In other news, CFO T Christopher Uchida sold 1,030 shares of Palomar stock in a transaction 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 approximately $1,713,073.95. The trade was a 5.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Jon Christianson sold 2,000 shares of the company’s stock in a transaction 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 completion of the transaction, the president now owns 51,926 shares of the company’s stock, valued at $5,112,114.70. This trade represents a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,326 shares of company stock valued at $2,688,779 in the last 90 days. Corporate insiders own 4.30% of the company’s stock.

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.