Natixis Advisors LLC Purchases New Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Natixis Advisors LLC acquired a new position in Palomar Holdings, Inc. (NASDAQ:PLMR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,635 shares of the company’s stock, valued at approximately $1,007,000.

Other large investors have also bought and sold shares of the company. Geneva Capital Management LLC raised its position in shares of Palomar by 0.3% in the 3rd quarter. Geneva Capital Management LLC now owns 340,763 shares of the company’s stock worth $32,260,000 after acquiring an additional 1,009 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Palomar by 7.4% in the third quarter. Victory Capital Management Inc. now owns 190,742 shares of the company’s stock worth $18,058,000 after purchasing an additional 13,064 shares in the last quarter. Covestor Ltd raised its holdings in Palomar by 20.2% in the third quarter. Covestor Ltd now owns 1,076 shares of the company’s stock worth $102,000 after purchasing an additional 181 shares in the last quarter. Summit Global Investments purchased a new position in Palomar during the third quarter valued at $260,000. Finally, Kornitzer Capital Management Inc. KS boosted its holdings in shares of Palomar by 0.8% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 162,973 shares of the company’s stock valued at $15,429,000 after buying an additional 1,300 shares in the last quarter. 90.25% of the stock is owned by institutional investors.

Palomar Trading Down 0.2 %

Palomar stock opened at $108.80 on Wednesday. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 25.84 and a beta of 0.34. Palomar Holdings, Inc. has a 12 month low of $54.50 and a 12 month high of $110.98. The stock has a fifty day simple moving average of $97.70 and a two-hundred day simple moving average of $91.55.

Palomar (NASDAQ:PLMR) last issued its earnings results on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.20. The business had revenue of $148.50 million during the quarter, compared to analyst estimates of $134.72 million. Palomar had a return on equity of 19.65% and a net margin of 21.55%. During the same quarter in the previous year, the firm earned $0.80 EPS. On average, equities research analysts forecast that Palomar Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Piper Sandler lifted their price target 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. Truist Financial lifted 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. Evercore ISI upped their price target on Palomar from $90.00 to $99.00 and gave the stock an “in-line” rating in a research note on Tuesday, August 6th. Jefferies Financial Group lifted their price objective on Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. increased their target price on Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $109.00.

Insider Activity at Palomar

In other Palomar news, President Jon Christianson sold 3,805 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $103.04, for a total transaction of $392,067.20. Following the completion of the sale, the president now directly owns 51,926 shares in the company, valued at $5,350,455.04. The trade was a 6.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mac Armstrong sold 7,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $95.49, for a total transaction of $668,430.00. Following the sale, the chief executive officer now directly owns 440,388 shares of the company’s stock, valued at $42,052,650.12. The trade was a 1.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,326 shares of company stock worth $3,632,779 over the last quarter. Company insiders own 4.30% of the company’s stock.

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.