18,032 Shares in Palomar Holdings, Inc. (NASDAQ:PLMR) Acquired by Riverwater Partners LLC

Riverwater Partners LLC acquired a new stake in Palomar Holdings, Inc. (NASDAQ:PLMR) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 18,032 shares of the company’s stock, valued at approximately $1,715,000. Riverwater Partners LLC owned about 0.07% of Palomar at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the company. Artemis Investment Management LLP bought a new position in shares of Palomar during the 1st quarter worth $20,904,000. Victory Capital Management Inc. boosted its position in Palomar by 1,634.6% during the second quarter. Victory Capital Management Inc. now owns 177,678 shares of the company’s stock worth $14,419,000 after purchasing an additional 167,435 shares during the period. F M Investments LLC purchased a new position in shares of Palomar in the second quarter worth about $11,946,000. Allspring Global Investments Holdings LLC raised its position in shares of Palomar by 214.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 165,685 shares of the company’s stock valued at $13,445,000 after purchasing an additional 112,996 shares during the period. Finally, Atlas Capital Advisors LLC lifted its stake in shares of Palomar by 167.7% during the 2nd quarter. Atlas Capital Advisors LLC now owns 137,284 shares of the company’s stock valued at $11,141,000 after buying an additional 86,000 shares in the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Palomar

In related news, President Jon Christianson sold 10,000 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $94.40, for a total value of $944,000.00. Following the transaction, the president now owns 51,926 shares of the company’s stock, valued at $4,901,814.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Thomas A. Bradley bought 1,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was acquired at an average price of $89.42 per share, with a total value of $89,420.00. Following the completion of the purchase, the director now directly owns 4,724 shares in the company, valued at $422,420.08. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Jon Christianson sold 10,000 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were 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 $4,901,814.40. 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 ninety days, insiders sold 37,520 shares of company stock valued at $3,626,486. Insiders own 4.30% of the company’s stock.

Analyst Ratings Changes

PLMR has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of Palomar from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Piper Sandler lifted their price target on Palomar from $99.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Truist Financial increased their price objective on Palomar from $100.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Jefferies Financial Group lifted 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, Keefe, Bruyette & Woods increased their price target on shares of Palomar from $96.00 to $113.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Palomar currently has an average rating of “Moderate Buy” and a consensus price target of $105.50.

Palomar Stock Down 1.2 %

NASDAQ:PLMR opened at $94.19 on Thursday. Palomar Holdings, Inc. has a twelve month low of $48.23 and a twelve month high of $103.40. The stock has a market cap of $2.36 billion, a P/E ratio of 24.85 and a beta of 0.33. The business’s 50-day moving average price is $96.20 and its two-hundred day moving average price is $88.16.

Palomar (NASDAQ:PLMR) last announced its earnings results on Monday, August 5th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.16. Palomar had a net margin of 21.63% and a return on equity of 20.83%. The business had revenue of $123.08 million for the quarter, compared to the consensus estimate of $338.74 million. During the same period last year, the firm posted $0.72 earnings per share. Palomar’s quarterly revenue was up 47.0% on a year-over-year basis. On average, equities research analysts expect that Palomar Holdings, Inc. will post 4.35 EPS for the current fiscal year.

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.