Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Purchased by Horizon Investment Services LLC

Horizon Investment Services LLC raised its stake in Palomar Holdings, Inc. (NASDAQ:PLMR) by 139.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,028 shares of the company’s stock after acquiring an additional 4,678 shares during the period. Horizon Investment Services LLC’s holdings in Palomar were worth $848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of PLMR. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Palomar in the third quarter valued at approximately $371,000. Intech Investment Management LLC boosted its stake in Palomar by 109.0% during the 3rd quarter. Intech Investment Management LLC now owns 9,040 shares of the company’s stock worth $856,000 after purchasing an additional 4,714 shares during the period. Charles Schwab Investment Management Inc. grew its position in Palomar by 6.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 230,552 shares of the company’s stock worth $21,826,000 after purchasing an additional 14,509 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Palomar during the 3rd quarter worth $543,000. Finally, The Manufacturers Life Insurance Company increased its stake in Palomar by 25.1% in the third quarter. The Manufacturers Life Insurance Company now owns 75,216 shares of the company’s stock valued at $7,121,000 after purchasing an additional 15,093 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Palomar Trading Up 0.1 %

NASDAQ PLMR opened at $136.77 on Friday. The company has a market capitalization of $3.65 billion, a PE ratio of 30.53 and a beta of 0.33. The business’s 50-day moving average price is $120.94 and its 200 day moving average price is $108.01. Palomar Holdings, Inc. has a twelve month low of $74.09 and a twelve month high of $138.69.

Palomar (NASDAQ:PLMR) last released its earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. Equities analysts predict that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Insider Buying and Selling at Palomar

In other news, CEO Mac Armstrong sold 5,000 shares of Palomar stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $129.72, for a total transaction of $648,600.00. Following the sale, the chief executive officer now owns 402,388 shares in the company, valued at $52,197,771.36. This trade represents a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO T Christopher Uchida sold 864 shares of the firm’s stock in a transaction on Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total transaction of $91,463.04. Following the sale, the chief financial officer now directly owns 17,288 shares of the company’s stock, valued at approximately $1,830,107.68. The trade was a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,455 shares of company stock valued at $3,911,340. Company insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

PLMR has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their price objective on Palomar from $152.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, March 21st. JMP Securities restated a “market perform” rating on shares of Palomar in a research report on Thursday, February 13th. Truist Financial raised their target price on shares of Palomar from $112.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, Piper Sandler boosted their price target on shares of Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Palomar has an average rating of “Moderate Buy” and an average target price of $127.83.

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.