King Luther Capital Management Corp Has $7.11 Million Stock Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

King Luther Capital Management Corp raised its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR) by 3.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 87,559 shares of the company’s stock after acquiring an additional 3,171 shares during the quarter. King Luther Capital Management Corp owned approximately 0.35% of Palomar worth $7,105,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. International Assets Investment Management LLC acquired a new position in shares of Palomar in the 2nd quarter worth approximately $49,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Palomar during the 1st quarter worth approximately $59,000. Advisors Asset Management Inc. grew its position in shares of Palomar by 137.1% during the 1st quarter. Advisors Asset Management Inc. now owns 735 shares of the company’s stock worth $62,000 after buying an additional 425 shares during the period. Atwood & Palmer Inc. increased its stake in shares of Palomar by 66.7% in the 1st quarter. Atwood & Palmer Inc. now owns 750 shares of the company’s stock valued at $63,000 after acquiring an additional 300 shares in the last quarter. Finally, Covestor Ltd lifted its position 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 acquiring an additional 266 shares during the period. Institutional investors own 90.25% of the company’s stock.

Palomar Stock Down 1.8 %

Palomar stock opened at $95.01 on Friday. The stock has a market cap of $2.38 billion, a P/E ratio of 27.30 and a beta of 0.34. The company’s 50 day moving average price is $93.54 and its two-hundred day moving average price is $85.54. Palomar Holdings, Inc. has a 52 week low of $48.08 and a 52 week high of $100.29.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings data on Monday, August 5th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.16. The firm had revenue of $123.08 million during the quarter, compared to the consensus estimate of $338.74 million. Palomar had a return on equity of 20.83% and a net margin of 21.63%. The business’s revenue for the quarter was up 47.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. On average, equities analysts anticipate that Palomar Holdings, Inc. will post 4.37 EPS for the current year.

Insider Transactions at Palomar

In other Palomar news, President Jon Christianson sold 10,000 shares of the stock in a transaction dated Friday, September 6th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Palomar news, CFO T Christopher Uchida sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $91.30, for a total value of $91,300.00. Following the sale, the chief financial officer now directly owns 24,094 shares in the company, valued at approximately $2,199,782.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Jon Christianson sold 10,000 shares of the company’s stock in a transaction 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 directly owns 51,926 shares in the company, valued at approximately $4,901,814.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,500 shares of company stock worth $3,795,836. 4.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Truist Financial raised their price target on shares of Palomar from $100.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Piper Sandler boosted their target price on Palomar from $99.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Evercore ISI boosted their price objective on Palomar from $90.00 to $99.00 and gave the company an “in-line” rating in a report on Tuesday, August 6th. Keefe, Bruyette & Woods upped their price objective on shares of Palomar from $96.00 to $113.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Palomar from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $101.33.

Palomar 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.