Moody Aldrich Partners LLC Buys 35,270 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Moody Aldrich Partners LLC increased its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 130.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,322 shares of the company’s stock after purchasing an additional 35,270 shares during the period. Palomar makes up 1.2% of Moody Aldrich Partners LLC’s investment portfolio, making the stock its 24th largest holding. Moody Aldrich Partners LLC owned about 0.24% of Palomar worth $6,581,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. State Street Corp boosted its holdings in Palomar by 3.0% during the third quarter. State Street Corp now owns 1,097,702 shares of the company’s stock worth $103,919,000 after purchasing an additional 32,151 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Palomar by 3.2% during the third quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock valued at $56,822,000 after acquiring an additional 18,335 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Palomar by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 508,870 shares of the company’s stock worth $41,295,000 after purchasing an additional 66,478 shares during the last quarter. Artemis Investment Management LLP raised its stake in shares of Palomar by 18.7% during the 4th quarter. Artemis Investment Management LLP now owns 455,082 shares of the company’s stock worth $48,052,000 after purchasing an additional 71,806 shares during the period. Finally, Emerald Advisers LLC grew its position in Palomar by 1.9% during the third quarter. Emerald Advisers LLC now owns 449,973 shares of the company’s stock valued at $42,599,000 after buying an additional 8,601 shares during the period. Institutional investors own 90.25% of the company’s stock.

Palomar Stock Up 2.9 %

Shares of PLMR opened at $109.29 on Wednesday. The stock has a market cap of $2.89 billion, a P/E ratio of 25.96 and a beta of 0.38. The business’s 50 day moving average price is $106.96 and its 200-day moving average price is $99.14. Palomar Holdings, Inc. has a 52 week low of $57.55 and a 52 week high of $112.90.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Jefferies Financial Group lifted their price objective on 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 price target on Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. raised their target price on Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

Insider Buying and Selling at Palomar

In other Palomar news, President Jon Christianson sold 2,195 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $104.10, for a total value of $228,499.50. Following the completion of the sale, the president now owns 51,926 shares in the company, valued at approximately $5,405,496.60. This represents a 4.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO T Christopher Uchida sold 1,030 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $110.85, for a total value of $114,175.50. Following the sale, the chief financial officer now owns 15,994 shares of the company’s stock, valued at $1,772,934.90. This represents a 6.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,151 shares of company stock valued at $3,618,843. 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.