Yorktown Management & Research Co Inc Buys Shares of 2,000 Palomar Holdings, Inc. (NASDAQ:PLMR)

Yorktown Management & Research Co Inc purchased a new position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,000 shares of the company's stock, valued at approximately $274,000.

Several other hedge funds also recently bought and sold shares of the stock. Farther Finance Advisors LLC increased its position in Palomar by 21.8% during the fourth quarter. Farther Finance Advisors LLC now owns 554 shares of the company's stock worth $58,000 after buying an additional 99 shares in the last quarter. Avantax Advisory Services Inc. grew its holdings in Palomar by 2.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 5,837 shares of the company's stock valued at $616,000 after buying an additional 145 shares during the period. Covestor Ltd grew its holdings in Palomar by 13.8% in the 4th quarter. Covestor Ltd now owns 1,224 shares of the company's stock valued at $129,000 after buying an additional 148 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Palomar by 8.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,371 shares of the company's stock valued at $325,000 after buying an additional 190 shares during the period. Finally, Jones Financial Companies Lllp grew its holdings in Palomar by 63.2% in the 4th quarter. Jones Financial Companies Lllp now owns 493 shares of the company's stock valued at $52,000 after buying an additional 191 shares during the period. Hedge funds and other institutional investors own 90.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on PLMR. Evercore ISI lifted their price target on Palomar from $163.00 to $168.00 and gave the company an "in-line" rating in a report on Friday, May 30th. JPMorgan Chase & Co. raised Palomar from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $115.00 to $150.00 in a research report on Tuesday, April 8th. Truist Financial upped their price target on Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. Wall Street Zen upgraded Palomar from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Finally, Jefferies Financial Group lifted their price objective on Palomar from $145.00 to $168.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Palomar currently has an average rating of "Moderate Buy" and a consensus target price of $164.33.

Palomar Stock Down 0.2%

Shares of NASDAQ PLMR traded down $0.29 during midday trading on Friday, hitting $153.38. The stock had a trading volume of 434,574 shares, compared to its average volume of 213,209. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of 30.61 and a beta of 0.50. Palomar Holdings, Inc. has a 1-year low of $79.82 and a 1-year high of $175.85. The company has a fifty day moving average price of $158.13 and a 200 day moving average price of $133.39.

Palomar (NASDAQ:PLMR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $1.87 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 20.56% and a net margin of 21.99%. During the same period in the previous year, the company posted $1.09 EPS. On average, research analysts forecast that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Insider Buying and Selling

In related news, CEO Mac Armstrong sold 5,000 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $158.14, for a total transaction of $790,700.00. Following the transaction, the chief executive officer now directly owns 387,388 shares of the company's stock, valued at approximately $61,261,538.32. The trade was a 1.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO T Christopher Uchida sold 1,000 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $139.00, for a total value of $139,000.00. Following the transaction, the chief financial officer now directly owns 10,172 shares in the company, valued at $1,413,908. This trade represents a 8.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,702 shares of company stock valued at $3,486,574. Corporate insiders own 3.70% of the company's stock.

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.