King Luther Capital Management Corp Acquires 1,985 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

King Luther Capital Management Corp increased its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 80,519 shares of the company’s stock after purchasing an additional 1,985 shares during the period. King Luther Capital Management Corp owned 0.33% of Palomar worth $4,469,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLMR. Norges Bank bought a new position in shares of Palomar during the fourth quarter valued at approximately $9,726,000. Westfield Capital Management Co. LP lifted its position in Palomar by 26.0% during the third quarter. Westfield Capital Management Co. LP now owns 433,346 shares of the company’s stock valued at $21,992,000 after acquiring an additional 89,410 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Palomar by 14.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 421,746 shares of the company’s stock valued at $23,407,000 after acquiring an additional 52,659 shares during the last quarter. International Assets Investment Management LLC lifted its position in Palomar by 375,455.6% during the fourth quarter. International Assets Investment Management LLC now owns 33,800 shares of the company’s stock valued at $1,876,000 after acquiring an additional 33,791 shares during the last quarter. Finally, Oak Ridge Investments LLC lifted its position in Palomar by 29.9% during the fourth quarter. Oak Ridge Investments LLC now owns 64,893 shares of the company’s stock valued at $3,602,000 after acquiring an additional 14,940 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Truist Financial increased their target price on shares of Palomar from $88.00 to $97.00 and gave the company a “buy” rating in a research report on Monday, May 6th. JPMorgan Chase & Co. cut shares of Palomar from an “overweight” rating to a “neutral” rating and increased their target price for the company from $79.00 to $85.00 in a research report on Monday, April 8th. Keefe, Bruyette & Woods increased their target price on shares of Palomar from $88.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. JMP Securities reaffirmed a “market perform” rating on shares of Palomar in a report on Monday, April 15th. Finally, Evercore ISI raised their price target on shares of Palomar from $68.00 to $86.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Three investment 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.17.

Insider Activity

In related news, CFO T Christopher Uchida sold 1,250 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $89.00, for a total value of $111,250.00. Following the completion of the transaction, the chief financial officer now owns 24,094 shares of the company’s stock, valued at approximately $2,144,366. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Palomar news, CFO T Christopher Uchida sold 1,250 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $89.00, for a total transaction of $111,250.00. Following the transaction, the chief financial officer now owns 24,094 shares in the company, valued at $2,144,366. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mac Armstrong sold 7,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $82.84, for a total value of $579,880.00. Following the transaction, the chief executive officer now owns 461,388 shares in the company, valued at approximately $38,221,381.92. The disclosure for this sale can be found here. Insiders have sold 47,750 shares of company stock worth $3,844,755 in the last ninety days. Company insiders own 4.30% of the company’s stock.

Palomar Stock Down 0.6 %

Shares of PLMR stock traded down $0.50 on Thursday, hitting $82.30. The company had a trading volume of 14,778 shares, compared to its average volume of 160,294. The firm has a market cap of $2.05 billion, a P/E ratio of 23.68 and a beta of 0.24. Palomar Holdings, Inc. has a twelve month low of $46.67 and a twelve month high of $89.22. The company has a 50-day moving average price of $81.33 and a 200-day moving average price of $69.18.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.81 by $0.28. Palomar had a return on equity of 19.94% and a net margin of 21.78%. The business had revenue of $108.39 million for the quarter, compared to analyst estimates of $322.10 million. During the same quarter in the prior year, the firm posted $0.80 EPS. The business’s quarterly revenue was up 29.1% compared to the same quarter last year. Equities research analysts expect that Palomar Holdings, Inc. will post 4.03 EPS for the current year.

Palomar 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.