Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Acquired by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC boosted its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 13.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 70,491 shares of the company's stock after purchasing an additional 8,169 shares during the quarter. Palomar accounts for about 2.0% of Moody Aldrich Partners LLC's investment portfolio, making the stock its 4th biggest holding. Moody Aldrich Partners LLC owned about 0.26% of Palomar worth $9,663,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PLMR. Principal Financial Group Inc. lifted its position in shares of Palomar by 2.5% in the first quarter. Principal Financial Group Inc. now owns 151,237 shares of the company's stock worth $20,732,000 after purchasing an additional 3,697 shares in the last quarter. KBC Group NV raised its position in Palomar by 9.1% during the first quarter. KBC Group NV now owns 1,140 shares of the company's stock worth $156,000 after acquiring an additional 95 shares in the last quarter. Lisanti Capital Growth LLC bought a new stake in Palomar during the first quarter worth $7,933,000. Artemis Investment Management LLP raised its position 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. Finally, Bessemer Group Inc. grew its holdings in Palomar by 714.5% in the 1st quarter. Bessemer Group Inc. now owns 106,417 shares of the company's stock valued at $14,587,000 after buying an additional 93,352 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.

Insider Buying and Selling at Palomar

In other news, CEO Mac Armstrong sold 5,000 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $161.96, for a total transaction of $809,800.00. Following the completion of the transaction, the chief executive officer directly owned 392,388 shares in the company, valued at $63,551,160.48. This trade represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO T Christopher Uchida sold 1,000 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $150.24, for a total value of $150,240.00. Following the transaction, the chief financial officer owned 8,172 shares of the company's stock, valued at $1,227,761.28. This trade represents a 10.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,175 shares of company stock worth $3,420,251. 3.70% of the stock is currently owned by insiders.

Palomar Price Performance

Shares of PLMR stock traded up $2.45 on Friday, hitting $146.10. 247,177 shares of the company's stock were exchanged, compared to its average volume of 215,883. Palomar Holdings, Inc. has a 12 month low of $79.82 and a 12 month high of $175.85. The stock has a market cap of $3.91 billion, a P/E ratio of 29.16 and a beta of 0.46. The company has a 50 day moving average of $158.02 and a 200 day moving average of $134.69.

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

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Jefferies Financial Group increased their target price on Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Wall Street Zen lowered Palomar from a "buy" rating to a "hold" rating in a report on Saturday. Evercore ISI increased their target price on Palomar from $163.00 to $168.00 and gave the stock an "in-line" rating in a report on Friday, May 30th. Piper Sandler increased their target price on Palomar from $171.00 to $177.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Finally, Keefe, Bruyette & Woods reduced their target price on Palomar from $205.00 to $204.00 and set an "outperform" rating on the stock in a report on Monday, June 30th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Palomar currently has an average rating of "Moderate Buy" and a consensus target price 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.