Natixis Advisors LLC Invests $1.01 Million in Palomar Holdings, Inc. (NASDAQ:PLMR)

Natixis Advisors LLC bought a new stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) during the 3rd quarter, Holdings Channel reports. The firm bought 10,635 shares of the company’s stock, valued at approximately $1,007,000.

Other hedge funds have also bought and sold shares of the company. Driehaus Capital Management LLC lifted its position in shares of Palomar by 17.1% during the 2nd quarter. Driehaus Capital Management LLC now owns 300,213 shares of the company’s stock valued at $24,362,000 after buying an additional 43,841 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Palomar by 1,634.6% during the second quarter. Victory Capital Management Inc. now owns 177,678 shares of the company’s stock valued at $14,419,000 after purchasing an additional 167,435 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Palomar by 1.7% in the first quarter. Vanguard Group Inc. now owns 2,403,520 shares of the company’s stock worth $201,487,000 after purchasing an additional 40,453 shares during the period. Exchange Traded Concepts LLC purchased a new stake in shares of Palomar in the third quarter worth $731,000. Finally, Fred Alger Management LLC raised its position in shares of Palomar by 22.5% during the 2nd quarter. Fred Alger Management LLC now owns 295,916 shares of the company’s stock valued at $24,014,000 after purchasing an additional 54,283 shares during the period. Institutional investors own 90.25% of the company’s stock.

Insider Activity at Palomar

In other Palomar news, President Jon Christianson sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $94.40, for a total transaction of $944,000.00. Following the sale, the president now directly owns 51,926 shares in the company, valued at $4,901,814.40. This represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO T Christopher Uchida sold 1,111 shares of Palomar stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $104.00, for a total value of $115,544.00. Following the completion of the transaction, the chief financial officer now owns 16,432 shares of the company’s stock, valued at approximately $1,708,928. This trade represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,326 shares of company stock valued at $3,632,779. Insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of Palomar from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Truist Financial upped their price objective on Palomar from $100.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Keefe, Bruyette & Woods lifted their target price on Palomar from $117.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. upped their price target on Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Evercore ISI lifted their price objective on shares of Palomar from $90.00 to $99.00 and gave the company an “in-line” rating in a research report on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Palomar has a consensus rating of “Moderate Buy” and an average target price of $109.00.

Palomar Price Performance

Shares of PLMR opened at $108.80 on Wednesday. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 25.84 and a beta of 0.34. Palomar Holdings, Inc. has a 1 year low of $54.50 and a 1 year high of $110.98. The business’s 50 day simple moving average is $97.70 and its 200-day simple moving average is $91.55.

Palomar (NASDAQ:PLMR) last released its quarterly earnings results 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 net margin of 21.55% and a return on equity of 19.65%. The company had revenue of $148.50 million for the quarter, compared to the consensus estimate of $134.72 million. During the same quarter in the prior year, the firm earned $0.80 earnings per share. On average, sell-side analysts expect that Palomar Holdings, Inc. will post 4.33 earnings per share for the current year.

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.