Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Purchased by Horizon Investment Services LLC

Horizon Investment Services LLC boosted its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 22.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,833 shares of the company's stock after purchasing an additional 1,805 shares during the quarter. Horizon Investment Services LLC's holdings in Palomar were worth $1,348,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PLMR. Cambridge Investment Research Advisors Inc. bought a new position in shares of Palomar in the first quarter worth approximately $276,000. Principal Financial Group Inc. raised its holdings in shares of Palomar by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 151,237 shares of the company's stock worth $20,732,000 after acquiring an additional 3,697 shares in the last quarter. Penserra Capital Management LLC bought a new position in shares of Palomar during the 1st quarter valued at approximately $1,327,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Palomar by 8.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,371 shares of the company's stock worth $325,000 after buying an additional 190 shares during the period. Finally, Artemis Investment Management LLP increased its holdings in shares of Palomar by 17.0% in the first quarter. Artemis Investment Management LLP now owns 532,554 shares of the company's stock valued at $73,003,000 after purchasing an additional 77,472 shares during the period. 90.25% of the stock is owned by institutional investors.

Insider Buying and Selling at Palomar

In related news, CEO Mac Armstrong sold 5,000 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $161.96, for a total value of $809,800.00. Following the transaction, the chief executive officer owned 392,388 shares of the company's stock, valued at approximately $63,551,160.48. This trade represents a 1.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO T Christopher Uchida sold 500 shares of the firm's 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 completion of the transaction, the chief financial officer directly owned 7,420 shares of the company's stock, valued at approximately $1,177,479.80. The trade was a 6.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,164 shares of company stock worth $2,360,589 over the last three months. Corporate insiders own 3.70% of the company's stock.

Palomar Stock Up 0.2%

PLMR stock traded up $0.30 during trading on Monday, reaching $139.86. 320,177 shares of the company's stock were exchanged, compared to its average volume of 224,262. Palomar Holdings, Inc. has a 1-year low of $82.55 and a 1-year high of $175.85. The company's fifty day moving average price is $155.74 and its 200-day moving average price is $137.67. The firm has a market cap of $3.74 billion, a PE ratio of 27.92 and a beta of 0.46.

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PLMR shares. Jefferies Financial Group raised their price target on Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Evercore ISI increased their price objective on Palomar from $163.00 to $168.00 and gave the company an "in-line" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. raised shares of Palomar from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $115.00 to $150.00 in a research report on Tuesday, April 8th. Wall Street Zen lowered shares of Palomar from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Truist Financial lifted their price target on shares of Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.17.

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.