Yorktown Management & Research Co Inc Takes $274,000 Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Palomar by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 2,574,923 shares of the company's stock worth $271,886,000 after purchasing an additional 53,123 shares during the last quarter. American Century Companies Inc. grew its position in shares of Palomar by 36.6% in the 4th quarter. American Century Companies Inc. now owns 785,419 shares of the company's stock valued at $82,932,000 after buying an additional 210,523 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Palomar by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 618,840 shares of the company's stock valued at $65,358,000 after buying an additional 18,748 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Palomar by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 561,740 shares of the company's stock valued at $59,313,000 after buying an additional 17,320 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Palomar by 39.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 432,060 shares of the company's stock worth $45,622,000 after acquiring an additional 122,057 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors.

Palomar Price Performance

Shares of NASDAQ:PLMR traded down $1.92 during mid-day trading on Wednesday, hitting $158.10. The company had a trading volume of 20,020 shares, compared to its average volume of 209,424. Palomar Holdings, Inc. has a one year low of $77.28 and a one year high of $175.85. The firm has a fifty day moving average price of $157.97 and a 200 day moving average price of $132.61. The company has a market capitalization of $4.23 billion, a PE ratio of 31.64 and a beta of 0.50.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $1.87 EPS for the quarter, topping 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 business had revenue of $174.63 million during the quarter, compared to analysts' expectations of $161.97 million. During the same period last year, the company posted $1.09 earnings per share. Research analysts expect that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Insider Activity

In other Palomar news, CFO T Christopher Uchida sold 1,000 shares of the firm'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 completion of the sale, the chief financial officer now owns 10,172 shares of the company's stock, valued at approximately $1,413,908. This trade represents a 8.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mac Armstrong sold 3,202 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $153.04, for a total value of $490,034.08. Following the sale, the chief executive officer now owns 70,186 shares of the company's stock, valued at approximately $10,741,265.44. This represents a 4.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,702 shares of company stock worth $2,695,874 in the last three months. Company insiders own 3.70% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. JPMorgan Chase & Co. upgraded Palomar from a "neutral" rating to an "overweight" rating and upped their target price for the company from $115.00 to $150.00 in a report on Tuesday, April 8th. Jefferies Financial Group upped their price objective on shares of Palomar from $145.00 to $168.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Evercore ISI lifted their target price on shares of Palomar from $163.00 to $168.00 and gave the stock an "in-line" rating in a research note on Friday, May 30th. Truist Financial boosted their target price on shares of Palomar from $150.00 to $178.00 and gave the company a "buy" rating in a report on Tuesday, April 15th. Finally, Keefe, Bruyette & Woods decreased their price target on Palomar from $155.00 to $145.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $164.33.

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.