Harbor Capital Advisors Inc. Boosts Stock Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Harbor Capital Advisors Inc. boosted its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR) by 28.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 42,853 shares of the company’s stock after buying an additional 9,396 shares during the period. Harbor Capital Advisors Inc.’s holdings in Palomar were worth $4,525,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PLMR. State Street Corp lifted its holdings in shares of Palomar by 3.0% during the third quarter. State Street Corp now owns 1,097,702 shares of the company’s stock valued at $103,919,000 after purchasing an additional 32,151 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Palomar by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock valued at $56,822,000 after acquiring an additional 18,335 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Palomar by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 508,870 shares of the company’s stock worth $41,295,000 after acquiring an additional 66,478 shares during the period. Emerald Advisers LLC raised its holdings in shares of Palomar by 1.9% during the third quarter. Emerald Advisers LLC now owns 449,973 shares of the company’s stock valued at $42,599,000 after purchasing an additional 8,601 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in Palomar by 24.5% during the third quarter. Westfield Capital Management Co. LP now owns 394,408 shares of the company’s stock valued at $37,339,000 after purchasing an additional 77,552 shares during the period. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Palomar Trading Down 4.1 %

Palomar stock opened at $101.51 on Friday. Palomar Holdings, Inc. has a 12-month low of $56.67 and a 12-month high of $112.90. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 24.11 and a beta of 0.38. The firm has a 50 day moving average of $105.26 and a 200 day moving average of $96.83.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.03 by $0.20. The firm had revenue of $148.50 million for the quarter, compared to the consensus estimate of $134.72 million. Palomar had a net margin of 21.55% and a return on equity of 19.65%. During the same period last year, the firm earned $0.80 EPS. On average, analysts predict that Palomar Holdings, Inc. will post 4.33 EPS for the current year.

Insider Transactions at Palomar

In related news, President Jon Christianson sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $98.45, for a total transaction of $196,900.00. Following the completion of the transaction, the president now directly owns 51,926 shares of the company’s stock, valued at approximately $5,112,114.70. This trade represents a 3.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mac Armstrong sold 7,000 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $96.28, for a total transaction of $673,960.00. Following the completion of the sale, the chief executive officer now owns 433,388 shares in the company, valued at approximately $41,726,596.64. The trade was a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,909 shares of company stock valued at $3,242,655 over the last 90 days. Company insiders own 4.30% of the company’s stock.

Analyst Ratings Changes

PLMR has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods increased their target price on Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Piper Sandler boosted their price target on Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Jefferies Financial Group upped their price target on shares of Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Three investment 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 company has an average rating of “Moderate Buy” and an average price target of $115.50.

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.