Hunter Associates Investment Management LLC Purchases 1,120 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Hunter Associates Investment Management LLC raised its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,689 shares of the company’s stock after purchasing an additional 1,120 shares during the period. Hunter Associates Investment Management LLC’s holdings in Palomar were worth $1,872,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PLMR. Moody Aldrich Partners LLC grew its position in shares of Palomar by 130.4% in the 4th quarter. Moody Aldrich Partners LLC now owns 62,322 shares of the company’s stock valued at $6,581,000 after purchasing an additional 35,270 shares during the period. KBC Group NV lifted its stake in Palomar by 44.9% in the fourth quarter. KBC Group NV now owns 1,045 shares of the company’s stock valued at $110,000 after buying an additional 324 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Palomar by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 7,919 shares of the company’s stock valued at $836,000 after buying an additional 200 shares during the period. Dakota Wealth Management increased its position in shares of Palomar by 3.1% during the fourth quarter. Dakota Wealth Management now owns 3,070 shares of the company’s stock worth $324,000 after acquiring an additional 92 shares in the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Palomar during the fourth quarter worth $206,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

Insiders Place Their Bets

In other news, President Jon Christianson sold 371 shares of Palomar stock in a transaction that occurred on Sunday, January 26th. The shares were sold at an average price of $101.69, for a total value of $37,726.99. Following the completion of the sale, the president now directly owns 55,771 shares in the company, valued at approximately $5,671,352.99. The trade was a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO T Christopher Uchida sold 1,111 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $104.00, for a total value of $115,544.00. Following the sale, the chief financial officer now directly owns 16,432 shares in the company, valued at approximately $1,708,928. This trade represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,151 shares of company stock worth $3,618,843 over the last three months. Insiders own 4.30% of the company’s stock.

Palomar Stock Down 1.1 %

NASDAQ:PLMR opened at $107.44 on Friday. Palomar Holdings, Inc. has a 12-month low of $57.55 and a 12-month high of $112.90. The stock’s 50 day moving average price is $106.96 and its two-hundred day moving average price is $99.21. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 25.52 and a beta of 0.38.

Palomar (NASDAQ:PLMR) last released 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 in the previous year, the company earned $0.80 earnings per share. Equities research analysts expect that Palomar Holdings, Inc. will post 4.33 EPS for the current year.

Wall Street Analyst Weigh In

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

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.