3,723 Shares in Palomar Holdings, Inc. (NASDAQ:PLMR) Purchased by Centiva Capital LP

Centiva Capital LP acquired a new position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,723 shares of the company’s stock, valued at approximately $352,000.

Other hedge funds have also bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. bought a new stake in Palomar during the third quarter worth about $25,000. GAMMA Investing LLC boosted its stake in Palomar by 48.6% during the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $36,000 after acquiring an additional 125 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Palomar by 490.9% during the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $43,000 after acquiring an additional 378 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Palomar in the second quarter worth about $49,000. Finally, Covestor Ltd raised its holdings in Palomar by 20.2% in the third quarter. Covestor Ltd now owns 1,076 shares of the company’s stock worth $102,000 after buying an additional 181 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

Palomar Stock Down 2.8 %

PLMR opened at $107.38 on Tuesday. The firm has a 50 day moving average price of $100.04 and a 200-day moving average price of $93.14. Palomar Holdings, Inc. has a twelve month low of $54.50 and a twelve month high of $112.10. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 25.51 and a beta of 0.36.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.20. Palomar had a net margin of 21.55% and a return on equity of 19.65%. The firm had revenue of $148.50 million during the quarter, compared to analysts’ expectations of $134.72 million. During the same period in the previous year, the company earned $0.80 earnings per share. As a group, analysts expect that Palomar Holdings, Inc. will post 4.33 earnings per share for the current year.

Insider Buying and Selling at Palomar

In other Palomar news, CEO Mac Armstrong sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $95.49, for a total value of $668,430.00. Following the completion of the transaction, the chief executive officer now directly owns 440,388 shares in the company, valued at $42,052,650.12. This represents a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Jon Christianson sold 2,195 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $104.10, for a total transaction of $228,499.50. Following the transaction, the president now owns 51,926 shares of the company’s stock, valued at approximately $5,405,496.60. This represents a 4.06 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,326 shares of company stock valued at $2,688,779. Insiders own 4.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on PLMR shares. Jefferies Financial Group lifted their target price on shares of Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Piper Sandler lifted 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. Keefe, Bruyette & Woods lifted their target price on shares of Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a report on Friday. Finally, 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 report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $111.67.

Palomar Company 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.