Quantbot Technologies LP Has $1.98 Million Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Quantbot Technologies LP boosted its stake in Palomar Holdings, Inc. (NASDAQ:PLMR) by 97.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,895 shares of the company’s stock after purchasing an additional 10,291 shares during the quarter. Quantbot Technologies LP’s holdings in Palomar were worth $1,978,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Palomar by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 2,403,520 shares of the company’s stock valued at $201,487,000 after buying an additional 40,453 shares during the period. Dimensional Fund Advisors LP grew its stake in Palomar by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 508,870 shares of the company’s stock valued at $41,295,000 after acquiring an additional 66,478 shares during the period. Emerald Advisers LLC raised its position in shares of Palomar by 1.9% during the third quarter. Emerald Advisers LLC now owns 449,973 shares of the company’s stock worth $42,599,000 after purchasing an additional 8,601 shares during the period. Westfield Capital Management Co. LP lifted its holdings in shares of Palomar by 24.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 394,408 shares of the company’s stock worth $37,339,000 after purchasing an additional 77,552 shares in the last quarter. Finally, Artemis Investment Management LLP grew its position in Palomar by 12.9% in the 3rd quarter. Artemis Investment Management LLP now owns 383,276 shares of the company’s stock valued at $36,285,000 after purchasing an additional 43,812 shares during the period. 90.25% of the stock is owned by institutional investors.

Insider Activity at Palomar

In other news, CEO Mac Armstrong sold 7,000 shares of Palomar stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $95.49, for a total transaction of $668,430.00. Following the completion of the sale, the chief executive officer now owns 440,388 shares in the company, valued at approximately $42,052,650.12. This trade represents a 1.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Jon Christianson sold 10,000 shares of Palomar 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 sale, the president now owns 51,926 shares of the company’s stock, 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. Over the last 90 days, insiders sold 37,326 shares of company stock valued at $3,632,779. Corporate insiders own 4.30% of the company’s stock.

Palomar Trading Down 0.3 %

Shares of PLMR opened at $108.44 on Friday. Palomar Holdings, Inc. has a 12 month low of $54.50 and a 12 month high of $111.27. The stock has a 50 day moving average of $98.17 and a 200 day moving average of $91.78. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 25.76 and a beta of 0.34.

Palomar (NASDAQ:PLMR) last issued its earnings results on Monday, November 4th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.03 by $0.20. Palomar had a return on equity of 19.65% and a net margin of 21.55%. The business had revenue of $148.50 million during the quarter, compared to the consensus estimate of $134.72 million. During the same quarter last year, the company earned $0.80 EPS. As a group, equities research analysts predict that Palomar Holdings, Inc. will post 4.33 earnings per share for the current year.

Analyst Ratings Changes

PLMR has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Evercore ISI lifted their price target on Palomar from $90.00 to $99.00 and gave the company an “in-line” rating in a research note on Tuesday, August 6th. Jefferies Financial Group boosted their price objective on Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Piper Sandler raised their target price on Palomar from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Keefe, Bruyette & Woods upped their price target on Palomar from $117.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $109.00.

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.