Jackson Creek Investment Advisors LLC Invests $1.51 Million in Palomar Holdings, Inc. (NASDAQ:PLMR)

Jackson Creek Investment Advisors LLC purchased a new position in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 11,012 shares of the company's stock, valued at approximately $1,510,000.

Several other institutional investors also recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. bought a new position in Palomar in the 1st quarter worth about $276,000. Principal Financial Group Inc. increased its stake in Palomar by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 151,237 shares of the company's stock valued at $20,732,000 after purchasing an additional 3,697 shares in the last quarter. Penserra Capital Management LLC purchased a new position in Palomar in the first quarter worth about $1,327,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Palomar by 8.7% in the first 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 in the last quarter. Finally, Artemis Investment Management LLP grew its holdings in shares of Palomar by 17.0% during the first quarter. Artemis Investment Management LLP now owns 532,554 shares of the company's stock valued at $73,003,000 after buying an additional 77,472 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PLMR. JPMorgan Chase & Co. upgraded shares of Palomar from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $115.00 to $150.00 in a report on Tuesday, April 8th. Wall Street Zen cut Palomar from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Jefferies Financial Group increased their price objective on Palomar from $145.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Evercore ISI lifted their price objective on Palomar from $163.00 to $168.00 and gave the stock an "in-line" rating in a report on Friday, May 30th. Finally, Piper Sandler boosted their target price on Palomar from $171.00 to $177.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Palomar currently has an average rating of "Moderate Buy" and a consensus target price of $174.17.

Insider Buying and Selling at Palomar

In other Palomar news, insider Timothy Carter sold 473 shares of the firm's stock in a transaction that occurred on Saturday, June 28th. The shares were sold at an average price of $153.65, for a total transaction of $72,676.45. Following the sale, the insider owned 361 shares in the company, valued at approximately $55,467.65. This trade represents a 56.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO T Christopher Uchida sold 500 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $143.10, for a total transaction of $71,550.00. Following the completion of the transaction, the chief financial officer directly owned 6,920 shares of the company's stock, valued at $990,252. This represents a 6.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,164 shares of company stock valued at $3,087,639. Company insiders own 3.70% of the company's stock.

Palomar Price Performance

Palomar stock traded down $0.85 during mid-day trading on Friday, reaching $139.56. 251,113 shares of the stock traded hands, compared to its average volume of 223,417. Palomar Holdings, Inc. has a 12-month low of $82.55 and a 12-month high of $175.85. The business's 50-day moving average is $156.14 and its 200-day moving average is $136.98. The stock has a market capitalization of $3.73 billion, a PE ratio of 27.86 and a beta of 0.46.

Palomar (NASDAQ:PLMR - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $1.87 EPS for the quarter, beating 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 net margin of 21.99% and a return on equity of 20.56%. During the same period in the prior year, the company earned $1.09 earnings per share. Equities analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

About Palomar

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.