AlphaCore Capital LLC Buys New Shares in Palomar Holdings, Inc. $PLMR

AlphaCore Capital LLC purchased a new position in Palomar Holdings, Inc. (NASDAQ:PLMR) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,681 shares of the company’s stock, valued at approximately $259,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Palomar by 3.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,461 shares of the company’s stock valued at $363,000 after buying an additional 90 shares during the period. Bank of Montreal Can lifted its position in shares of Palomar by 1.7% in the 2nd quarter. Bank of Montreal Can now owns 5,766 shares of the company’s stock worth $889,000 after acquiring an additional 98 shares during the period. GAMMA Investing LLC grew its holdings in shares of Palomar by 14.4% during the 2nd quarter. GAMMA Investing LLC now owns 833 shares of the company’s stock worth $128,000 after purchasing an additional 105 shares in the last quarter. Maryland State Retirement & Pension System grew its holdings in shares of Palomar by 1.5% during the 2nd quarter. Maryland State Retirement & Pension System now owns 7,859 shares of the company’s stock worth $1,212,000 after purchasing an additional 113 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its position in shares of Palomar by 5.8% during the first quarter. Evergreen Capital Management LLC now owns 2,225 shares of the company’s stock valued at $305,000 after purchasing an additional 122 shares during the period. Institutional investors own 90.25% of the company’s stock.

Insider Transactions at Palomar

In other news, CFO T Christopher Uchida sold 782 shares of Palomar stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $128.84, for a total value of $100,752.88. Following the completion of the sale, the chief financial officer directly owned 7,916 shares of the company’s stock, valued at approximately $1,019,897.44. This trade represents a 8.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Jon Christianson sold 522 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $128.84, for a total value of $67,254.48. Following the completion of the transaction, the president owned 59,631 shares in the company, valued at approximately $7,682,858.04. This represents a 0.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 19,803 shares of company stock valued at $2,348,771 over the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on PLMR. JPMorgan Chase & Co. raised their target price on Palomar from $137.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Wall Street Zen upgraded shares of Palomar from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Evercore ISI lowered their target price on shares of Palomar from $168.00 to $134.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 1st. Keefe, Bruyette & Woods raised their price target on shares of Palomar from $164.00 to $170.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 11th. Finally, Piper Sandler decreased their price objective on Palomar from $177.00 to $151.00 and set an “overweight” rating on the stock in a report on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $157.67.

Palomar Price Performance

PLMR stock opened at $123.42 on Tuesday. The business has a fifty day moving average price of $118.26 and a 200 day moving average price of $133.60. Palomar Holdings, Inc. has a fifty-two week low of $98.42 and a fifty-two week high of $175.85. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 21.69 and a beta of 0.25.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings data on Friday, December 16th. The company reported $0.07 EPS for the quarter. Palomar had a return on equity of 20.35% and a net margin of 22.71%.The company had revenue of $65.74 million for the quarter. On average, equities analysts expect that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

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.