Calamos Advisors LLC Increases Stock Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Calamos Advisors LLC boosted its position in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 112.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 18,565 shares of the company's stock after purchasing an additional 9,825 shares during the period. Calamos Advisors LLC owned about 0.07% of Palomar worth $2,545,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PLMR. Smartleaf Asset Management LLC grew its position in Palomar by 536.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 414 shares of the company's stock worth $43,000 after purchasing an additional 349 shares in the last quarter. Jones Financial Companies Lllp grew its position in Palomar by 63.2% in the 4th quarter. Jones Financial Companies Lllp now owns 493 shares of the company's stock worth $52,000 after purchasing an additional 191 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Palomar by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 240,176 shares of the company's stock worth $25,360,000 after purchasing an additional 9,624 shares in the last quarter. Arizona State Retirement System boosted its stake in Palomar by 5.7% in the fourth quarter. Arizona State Retirement System now owns 7,585 shares of the company's stock valued at $801,000 after acquiring an additional 408 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Palomar in the fourth quarter valued at about $3,064,000. 90.25% of the stock is owned by institutional investors.

Palomar Trading Up 1.7%

Shares of PLMR stock traded up $2.45 during trading on Friday, reaching $146.10. 247,177 shares of the company's stock traded hands, compared to its average volume of 216,363. The company has a market capitalization of $3.91 billion, a P/E ratio of 29.16 and a beta of 0.46. The firm's 50-day moving average is $158.02 and its 200 day moving average is $134.89. Palomar Holdings, Inc. has a 1 year low of $79.82 and a 1 year high of $175.85.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $1.87 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.26. The business had revenue of $174.63 million for the quarter, compared to analyst estimates of $161.97 million. Palomar had a net margin of 21.99% and a return on equity of 20.56%. During the same quarter in the prior year, the firm posted $1.09 EPS. As a group, sell-side analysts predict that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Mac Armstrong sold 5,000 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $158.14, for a total transaction of $790,700.00. Following the sale, the chief executive officer owned 387,388 shares of the company's stock, valued at approximately $61,261,538.32. This represents a 1.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO T Christopher Uchida sold 500 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $158.69, for a total transaction of $79,345.00. Following the transaction, the chief financial officer directly owned 7,420 shares in the company, valued at approximately $1,177,479.80. This represents a 6.31% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,175 shares of company stock valued at $3,420,251. Company insiders own 3.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PLMR shares. Jefferies Financial Group boosted their target price on shares of Palomar from $145.00 to $168.00 and gave the company a "buy" rating in a research note on Friday, April 11th. JPMorgan Chase & Co. upgraded shares of Palomar from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $115.00 to $150.00 in a research note on Tuesday, April 8th. Wall Street Zen cut shares of Palomar from a "buy" rating to a "hold" rating in a research note on Saturday. Evercore ISI boosted their target price on shares of Palomar from $163.00 to $168.00 and gave the company an "in-line" rating in a research note on Friday, May 30th. Finally, Truist Financial boosted their target price on shares of Palomar from $150.00 to $178.00 and gave the company a "buy" rating in a research note on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Palomar has a consensus rating of "Moderate Buy" and an average price target of $174.17.

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.