6,794 Shares in Palomar Holdings, Inc. (NASDAQ:PLMR) Purchased by Versor Investments LP

Versor Investments LP bought a new stake in Palomar Holdings, Inc. (NASDAQ:PLMRFree Report) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 6,794 shares of the company’s stock, valued at approximately $377,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLMR. Signaturefd LLC raised its stake in Palomar by 59.4% in the 4th quarter. Signaturefd LLC now owns 593 shares of the company’s stock valued at $33,000 after acquiring an additional 221 shares during the period. Picton Mahoney Asset Management bought a new position in Palomar in the fourth quarter valued at $108,000. Everence Capital Management Inc. purchased a new stake in Palomar during the fourth quarter valued at about $214,000. Dark Forest Capital Management LP bought a new position in shares of Palomar during the 3rd quarter valued at about $273,000. Finally, Raymond James & Associates purchased a new position in shares of Palomar during the 4th quarter valued at about $293,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

Palomar Stock Performance

Shares of Palomar stock opened at $83.12 on Tuesday. The stock’s fifty day moving average is $79.94 and its 200 day moving average is $67.72. The stock has a market cap of $2.07 billion, a P/E ratio of 23.89 and a beta of 0.24. Palomar Holdings, Inc. has a one year low of $46.09 and a one year high of $86.25.

Palomar (NASDAQ:PLMRGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.81 by $0.28. Palomar had a net margin of 21.78% and a return on equity of 19.94%. The business had revenue of $108.39 million during the quarter, compared to the consensus estimate of $322.10 million. During the same quarter in the prior year, the firm earned $0.80 EPS. The business’s revenue was up 29.1% on a year-over-year basis. Analysts predict that Palomar Holdings, Inc. will post 4.01 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PLMR. JPMorgan Chase & Co. downgraded Palomar from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $79.00 to $85.00 in a research report on Monday, April 8th. JMP Securities reissued a “market perform” rating on shares of Palomar in a research report on Monday, April 15th. Truist Financial increased their price target on shares of Palomar from $88.00 to $97.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Keefe, Bruyette & Woods increased their target price on Palomar from $88.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Finally, Piper Sandler lifted their price target on shares of Palomar from $89.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $89.17.

Check Out Our Latest Stock Report on Palomar

Insider Activity at Palomar

In related news, Director Thomas A. Bradley bought 1,500 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were acquired at an average cost of $74.30 per share, for a total transaction of $111,450.00. Following the purchase, the director now directly owns 1,500 shares of the company’s stock, valued at $111,450. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In other Palomar news, Director Thomas A. Bradley purchased 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were bought at an average price of $74.30 per share, for a total transaction of $111,450.00. Following the acquisition, the director now owns 1,500 shares in the company, valued at $111,450. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas A. Bradley bought 1,000 shares of Palomar stock in a transaction that occurred on Tuesday, May 7th. The shares were acquired at an average cost of $84.32 per share, with a total value of $84,320.00. Following the acquisition, the director now owns 2,500 shares of the company’s stock, valued at $210,800. The disclosure for this purchase can be found here. Insiders have sold a total of 42,250 shares of company stock valued at $3,305,655 over the last 90 days. 4.30% of the stock is owned by corporate insiders.

About Palomar

(Free Report)

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.

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Want to see what other hedge funds are holding PLMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palomar Holdings, Inc. (NASDAQ:PLMRFree Report).

Institutional Ownership by Quarter for Palomar (NASDAQ:PLMR)

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