Nicholas Investment Partners LP Boosts Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Nicholas Investment Partners LP increased its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,310 shares of the company's stock after acquiring an additional 1,872 shares during the quarter. Nicholas Investment Partners LP owned about 0.18% of Palomar worth $4,995,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PLMR. Principal Financial Group Inc. raised its stake in shares of Palomar by 5.6% in the fourth quarter. Principal Financial Group Inc. now owns 147,540 shares of the company's stock worth $15,579,000 after buying an additional 7,875 shares during the period. Artemis Investment Management LLP increased its position in Palomar by 18.7% during the 4th quarter. Artemis Investment Management LLP now owns 455,082 shares of the company's stock valued at $48,052,000 after buying an additional 71,806 shares in the last quarter. Atlas Capital Advisors Inc. grew its stake in Palomar by 175.5% during the 4th quarter. Atlas Capital Advisors Inc. now owns 141,284 shares of the company's stock valued at $14,918,000 after purchasing an additional 90,000 shares during the last quarter. Avantax Advisory Services Inc. boosted its stake in shares of Palomar by 2.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 5,837 shares of the company's stock worth $616,000 after buying an additional 145 shares during the last quarter. Finally, Jump Financial LLC boosted its stake in shares of Palomar by 146.1% in the fourth quarter. Jump Financial LLC now owns 6,885 shares of the company's stock worth $727,000 after buying an additional 4,087 shares during the last quarter. Institutional investors own 90.25% of the company's stock.

Palomar Trading Up 1.3%

NASDAQ PLMR traded up $2.07 during trading hours on Monday, reaching $161.29. The company's stock had a trading volume of 51,105 shares, compared to its average volume of 197,480. The business has a 50-day simple moving average of $143.88 and a 200 day simple moving average of $121.71. The stock has a market cap of $4.31 billion, a PE ratio of 35.94 and a beta of 0.51. Palomar Holdings, Inc. has a 52 week low of $77.28 and a 52 week high of $165.00.

Palomar (NASDAQ:PLMR - Get Free Report) last issued 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 21.23% and a return on equity of 19.76%. The company had revenue of $174.63 million during the quarter, compared to analyst estimates of $161.97 million. During the same quarter last year, the business posted $1.09 EPS. As a group, equities analysts predict that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Insider Buying and Selling

In other Palomar news, CEO Mac Armstrong sold 5,000 shares of Palomar stock in a transaction on Monday, April 21st. The shares were sold at an average price of $145.41, for a total value of $727,050.00. Following the sale, the chief executive officer now directly owns 397,388 shares in the company, valued at approximately $57,784,189.08. The trade was a 1.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO T Christopher Uchida sold 552 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $123.26, for a total transaction of $68,039.52. Following the completion of the sale, the chief financial officer now directly owns 15,683 shares of the company's stock, valued at $1,933,086.58. This represents a 3.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,254 shares of company stock valued at $2,443,484 over the last quarter. Corporate insiders own 3.70% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PLMR shares. Jefferies Financial Group increased their target price on Palomar from $145.00 to $168.00 and gave the company a "buy" rating in a report on Friday, April 11th. JPMorgan Chase & Co. raised Palomar from a "neutral" rating to an "overweight" rating and increased their price target for the company from $115.00 to $150.00 in a report on Tuesday, April 8th. JMP Securities reaffirmed a "market perform" rating on shares of Palomar in a report on Thursday, February 13th. Truist Financial raised their target price on Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. Finally, Keefe, Bruyette & Woods lowered their price target on Palomar from $155.00 to $145.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating and five 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 a consensus target price of $148.33.

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.