Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Acquired by Artemis Investment Management LLP

Artemis Investment Management LLP boosted its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR) by 18.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 455,082 shares of the company’s stock after buying an additional 71,806 shares during the quarter. Artemis Investment Management LLP’s holdings in Palomar were worth $48,052,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PLMR. State Street Corp boosted its stake in shares of Palomar by 3.0% during the 3rd quarter. State Street Corp now owns 1,097,702 shares of the company’s stock worth $103,919,000 after acquiring an additional 32,151 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Palomar by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock valued at $56,822,000 after purchasing an additional 18,335 shares during the period. JPMorgan Chase & Co. increased its stake in Palomar by 9.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 128,165 shares of the company’s stock worth $12,133,000 after purchasing an additional 11,140 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in Palomar by 17.1% during the 2nd 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. Finally, Thrivent Financial for Lutherans lifted its stake in Palomar by 58.7% during the third quarter. Thrivent Financial for Lutherans now owns 32,837 shares of the company’s stock valued at $3,109,000 after buying an additional 12,147 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Palomar Stock Up 1.8 %

PLMR stock opened at $110.37 on Friday. The company has a 50 day moving average of $106.51 and a two-hundred day moving average of $97.84. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 26.22 and a beta of 0.38. Palomar Holdings, Inc. has a 12-month low of $57.55 and a 12-month high of $112.90.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $134.72 million. During the same quarter last year, the firm earned $0.80 earnings per share. On average, research analysts anticipate that Palomar Holdings, Inc. will post 4.33 EPS for the current year.

Wall Street Analyst Weigh In

PLMR has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Jefferies Financial Group increased their target price on Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Piper Sandler lifted their price target on Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, January 6th. 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.50.

Insider Buying and Selling

In other news, CFO T Christopher Uchida sold 1,030 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $110.85, for a total transaction of $114,175.50. Following the transaction, the chief financial officer now owns 15,994 shares of the company’s stock, valued at approximately $1,772,934.90. This represents a 6.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Jon Christianson sold 2,195 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $104.10, for a total value of $228,499.50. Following the completion of the sale, the president now owns 51,926 shares of the company’s stock, valued at approximately $5,405,496.60. This trade represents a 4.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,694 shares of company stock worth $2,632,377. Insiders own 4.30% of the company’s stock.

Palomar 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.