Wealth Enhancement Advisory Services LLC Makes New $209,000 Investment in Palomar Holdings, Inc. (NASDAQ:PLMR)

Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 2,204 shares of the company’s stock, valued at approximately $209,000.

A number of other hedge funds also recently made changes to their positions in PLMR. GAMMA Investing LLC raised its position in shares of Palomar by 48.6% during the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after buying an additional 125 shares during the last quarter. Arizona State Retirement System increased its holdings in Palomar by 2.4% in the 2nd quarter. Arizona State Retirement System now owns 6,961 shares of the company’s stock valued at $565,000 after acquiring an additional 164 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Palomar by 1.6% in the 3rd quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the company’s stock worth $1,202,000 after purchasing an additional 200 shares in the last quarter. CWM LLC lifted its stake in Palomar by 15.7% in the 2nd quarter. CWM LLC now owns 1,601 shares of the company’s stock worth $130,000 after purchasing an additional 217 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Palomar by 29.0% during the 1st quarter. Covestor Ltd now owns 1,183 shares of the company’s stock valued at $99,000 after purchasing an additional 266 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors.

Palomar Stock Performance

NASDAQ:PLMR opened at $100.69 on Wednesday. The firm has a market capitalization of $2.67 billion, a PE ratio of 23.92 and a beta of 0.34. The stock’s fifty day moving average is $95.31 and its 200 day moving average is $89.64. Palomar Holdings, Inc. has a fifty-two week low of $54.50 and a fifty-two week high of $107.00.

Palomar (NASDAQ:PLMR) last announced its earnings results on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.20. Palomar had a net margin of 21.55% and a return on equity of 19.65%. The business had revenue of $148.50 million for the quarter, compared to the consensus estimate of $134.72 million. During the same quarter in the prior year, the firm posted $0.80 earnings per share. Equities analysts forecast that Palomar Holdings, Inc. will post 4.35 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Jefferies Financial Group upped their price objective on Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Truist Financial raised their target price on shares of Palomar from $100.00 to $112.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Keefe, Bruyette & Woods boosted their price target on shares of Palomar from $117.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Piper Sandler increased their price objective on shares of Palomar from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $109.00.

Insider Buying and Selling

In other Palomar news, President Jon Christianson sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $94.40, for a total transaction of $944,000.00. Following the completion of the transaction, the president now owns 51,926 shares in the company, valued at $4,901,814.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Palomar news, CFO T Christopher Uchida sold 1,750 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $99.00, for a total value of $173,250.00. Following the transaction, the chief financial officer now owns 20,594 shares of the company’s stock, valued at $2,038,806. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Jon Christianson sold 10,000 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $94.40, for a total value of $944,000.00. Following the completion of the sale, the president now owns 51,926 shares in the company, valued at approximately $4,901,814.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,076 shares of company stock valued at $3,806,029 in the last ninety days. 4.30% of the stock is owned by company insiders.

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.