International Assets Investment Management LLC Takes Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

International Assets Investment Management LLC bought a new position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 609 shares of the company’s stock, valued at approximately $49,000.

Other large investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new stake in Palomar during the 1st quarter worth about $59,000. Advisors Asset Management Inc. raised its holdings in Palomar by 137.1% during the first quarter. Advisors Asset Management Inc. now owns 735 shares of the company’s stock worth $62,000 after acquiring an additional 425 shares in the last quarter. Atwood & Palmer Inc. boosted its position in Palomar by 66.7% during the first quarter. Atwood & Palmer Inc. now owns 750 shares of the company’s stock valued at $63,000 after purchasing an additional 300 shares during the last quarter. Covestor Ltd grew its stake in Palomar by 29.0% in the first quarter. Covestor Ltd now owns 1,183 shares of the company’s stock valued at $99,000 after purchasing an additional 266 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in shares of Palomar during the 4th quarter worth approximately $108,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on PLMR shares. JPMorgan Chase & Co. raised their target price on shares of Palomar from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Evercore ISI boosted their price objective on shares of Palomar from $90.00 to $99.00 and gave the stock an “in-line” rating in a research note on Tuesday, August 6th. Piper Sandler raised their target price on shares of Palomar from $99.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Keefe, Bruyette & Woods boosted their price target on Palomar from $96.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. Finally, Truist Financial raised their price objective on Palomar from $100.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $101.33.

Palomar Stock Down 0.2 %

Shares of NASDAQ:PLMR opened at $97.88 on Thursday. Palomar Holdings, Inc. has a 12-month low of $48.08 and a 12-month high of $100.29. The business has a 50 day moving average of $90.11 and a 200-day moving average of $83.82. The stock has a market cap of $2.44 billion, a PE ratio of 27.98 and a beta of 0.34.

Palomar (NASDAQ:PLMR) last released its quarterly earnings results on Monday, August 5th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.16. The business had revenue of $123.08 million during the quarter, compared to the consensus estimate of $338.74 million. Palomar had a return on equity of 20.83% and a net margin of 21.63%. The firm’s quarterly revenue was up 47.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 EPS. Equities research analysts expect that Palomar Holdings, Inc. will post 4.37 earnings per share for the current year.

Insider Activity

In related news, CEO Mac Armstrong sold 7,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $78.51, for a total transaction of $549,570.00. Following the transaction, the chief executive officer now directly owns 454,388 shares of the company’s stock, valued at $35,674,001.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Thomas A. Bradley bought 1,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was purchased at an average cost of $89.42 per share, for a total transaction of $89,420.00. Following the transaction, the director now owns 4,724 shares in the company, valued at approximately $422,420.08. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mac Armstrong sold 7,000 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $78.51, for a total value of $549,570.00. Following the sale, the chief executive officer now directly owns 454,388 shares in the company, valued at $35,674,001.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,500 shares of company stock valued at $3,644,146. 4.30% of the stock is owned by company insiders.

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.