King Luther Capital Management Corp Has $9.38 Million Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

King Luther Capital Management Corp boosted its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 0.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 88,851 shares of the company’s stock after buying an additional 221 shares during the period. King Luther Capital Management Corp’s holdings in Palomar were worth $9,382,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new position in shares of Palomar during the 3rd quarter valued at $10,994,000. Soros Fund Management LLC acquired a new stake in Palomar during the third quarter valued at $9,467,000. Westfield Capital Management Co. LP grew its stake in Palomar by 24.5% in 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 in the last quarter. Artemis Investment Management LLP lifted its holdings in shares of Palomar by 18.7% during the 4th quarter. Artemis Investment Management LLP now owns 455,082 shares of the company’s stock valued at $48,052,000 after buying an additional 71,806 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Palomar by 112.6% in the 3rd quarter. Barclays PLC now owns 71,803 shares of the company’s stock valued at $6,798,000 after buying an additional 38,027 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Analyst Upgrades and Downgrades

PLMR has been the topic of several recent research reports. Keefe, Bruyette & Woods raised their price objective on shares of Palomar from $136.00 to $152.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. JMP Securities restated a “market perform” rating on shares of Palomar in a report on Thursday, February 13th. Piper Sandler upped their price objective on shares of Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Finally, Truist Financial raised their target price on Palomar from $112.00 to $150.00 and gave the company a “buy” rating in a report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Palomar has a consensus rating of “Moderate Buy” and an average price target of $127.33.

Palomar Stock Up 4.1 %

Shares of NASDAQ:PLMR opened at $131.21 on Wednesday. The company has a market cap of $3.50 billion, a price-to-earnings ratio of 29.29 and a beta of 0.33. The business has a 50 day moving average price of $113.98 and a 200 day moving average price of $104.96. Palomar Holdings, Inc. has a twelve month low of $71.54 and a twelve month high of $136.90.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. Analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Insider Activity

In other news, CFO T Christopher Uchida sold 552 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $123.26, for a total transaction of $68,039.52. Following the sale, the chief financial officer now directly owns 15,683 shares in the company, valued at approximately $1,933,086.58. The trade was a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mac Armstrong sold 7,000 shares of Palomar stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $103.04, for a total transaction of $721,280.00. Following the sale, the chief executive officer now owns 419,388 shares in the company, valued at $43,213,739.52. This represents a 1.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,485 shares of company stock valued at $4,098,195. Insiders own 4.30% of the company’s stock.

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.