Legato Capital Management LLC Has $3.05 Million Stock Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Legato Capital Management LLC grew its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 275.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,216 shares of the company's stock after purchasing an additional 16,296 shares during the quarter. Legato Capital Management LLC owned approximately 0.08% of Palomar worth $3,045,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in PLMR. Nisa Investment Advisors LLC grew its holdings in Palomar by 185.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 311 shares of the company's stock worth $43,000 after buying an additional 202 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Palomar during the 1st quarter worth $46,000. NBC Securities Inc. bought a new stake in shares of Palomar during the 1st quarter worth $53,000. USA Financial Formulas bought a new stake in shares of Palomar during the 1st quarter worth $55,000. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Palomar by 761.1% during the 1st quarter. SBI Securities Co. Ltd. now owns 620 shares of the company's stock worth $85,000 after acquiring an additional 548 shares in the last quarter. 90.25% of the stock is owned by institutional investors.

Palomar Stock Up 0.6%

PLMR traded up $0.75 during midday trading on Friday, reaching $132.52. 322,896 shares of the company's stock were exchanged, compared to its average volume of 324,686. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 26.45 and a beta of 0.46. Palomar Holdings, Inc. has a one year low of $82.54 and a one year high of $175.85. The business has a 50-day simple moving average of $153.65 and a two-hundred day simple moving average of $138.27.

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

Insider Buying and Selling

In other Palomar news, insider Timothy Carter sold 473 shares of Palomar stock in a transaction 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 completion of the sale, the insider owned 361 shares of the company's stock, valued at approximately $55,467.65. The trade was 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 Palomar stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $158.69, for a total transaction of $79,345.00. Following the sale, the chief financial officer directly owned 7,420 shares of the company's stock, valued at $1,177,479.80. This represents a 6.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,164 shares of company stock worth $3,061,089 in the last quarter. Insiders own 3.70% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PLMR. Evercore ISI increased their target price on Palomar from $163.00 to $168.00 and gave the company an "in-line" rating in a report on Friday, May 30th. Piper Sandler raised their target price on Palomar from $171.00 to $177.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Wall Street Zen downgraded Palomar from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Jefferies Financial Group raised their price target on Palomar from $145.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Finally, Truist Financial lifted their target price on Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a research report on Tuesday, April 15th. Three 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 company has a consensus rating of "Moderate Buy" and a consensus target price 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.