Seven Grand Managers LLC Invests $2.37 Million in Palomar Holdings, Inc. (NASDAQ:PLMR)

Seven Grand Managers LLC acquired a new stake in Palomar Holdings, Inc. (NASDAQ:PLMR) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 25,000 shares of the company’s stock, valued at approximately $2,367,000. Seven Grand Managers LLC owned approximately 0.10% of Palomar as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PLMR. Janney Montgomery Scott LLC bought a new stake in Palomar during the first quarter valued at about $602,000. Picton Mahoney Asset Management boosted its stake in Palomar by 1,940.6% during the 1st quarter. Picton Mahoney Asset Management now owns 39,690 shares of the company’s stock valued at $3,329,000 after purchasing an additional 37,745 shares during the period. Quadrature Capital Ltd grew its holdings in Palomar by 155.9% in the 1st quarter. Quadrature Capital Ltd now owns 22,773 shares of the company’s stock valued at $1,906,000 after buying an additional 13,873 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in Palomar by 17.1% in the 2nd quarter. Driehaus Capital Management LLC now owns 300,213 shares of the company’s stock valued at $24,362,000 after buying an additional 43,841 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Palomar by 1,634.6% in the 2nd quarter. Victory Capital Management Inc. now owns 177,678 shares of the company’s stock worth $14,419,000 after buying an additional 167,435 shares during the period. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, President Jon Christianson sold 10,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $94.40, for a total value of $944,000.00. Following the sale, the president now owns 51,926 shares in the company, valued at approximately $4,901,814.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, President Jon Christianson sold 10,000 shares of Palomar stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $94.40, for a total value of $944,000.00. Following the completion of the transaction, the president now owns 51,926 shares in the company, valued at approximately $4,901,814.40. The trade was a 0.00 % 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, CFO T Christopher Uchida sold 1,750 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $94.00, for a total value of $164,500.00. Following the sale, the chief financial officer now owns 22,344 shares in the company, valued at approximately $2,100,336. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,520 shares of company stock worth $2,952,526 over the last three months. 4.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PLMR shares. JPMorgan Chase & Co. raised their price objective on shares of Palomar from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. 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 research report on Thursday, August 8th. Jefferies Financial Group upped their price objective 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. Piper Sandler lifted their target price on Palomar from $99.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, Keefe, Bruyette & Woods boosted their price target on Palomar from $96.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Palomar has a consensus rating of “Moderate Buy” and a consensus price target of $105.50.

Palomar Stock Down 0.2 %

NASDAQ:PLMR opened at $98.02 on Thursday. The firm has a market capitalization of $2.44 billion, a PE ratio of 28.17 and a beta of 0.33. Palomar Holdings, Inc. has a 12-month low of $48.08 and a 12-month high of $103.40. The firm has a 50-day moving average price of $95.60 and a 200 day moving average price of $87.66.

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

Palomar Company 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.