18,440 Shares in Palomar Holdings, Inc. $PLMR Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC purchased a new position in Palomar Holdings, Inc. (NASDAQ:PLMR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,440 shares of the company’s stock, valued at approximately $2,844,000. Concurrent Investment Advisors LLC owned about 0.07% of Palomar as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PLMR. Apollon Wealth Management LLC purchased a new stake in Palomar during the 2nd quarter valued at $218,000. IFP Advisors Inc boosted its stake in Palomar by 556.9% during the 2nd quarter. IFP Advisors Inc now owns 335 shares of the company’s stock valued at $52,000 after purchasing an additional 284 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in Palomar by 1.5% during the 2nd quarter. Maryland State Retirement & Pension System now owns 7,859 shares of the company’s stock valued at $1,212,000 after purchasing an additional 113 shares during the last quarter. KLP Kapitalforvaltning AS boosted its stake in Palomar by 14.0% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 5,700 shares of the company’s stock valued at $879,000 after purchasing an additional 700 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in Palomar during the 2nd quarter valued at $4,550,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Palomar Stock Performance

Shares of Palomar stock opened at $118.14 on Tuesday. Palomar Holdings, Inc. has a one year low of $85.00 and a one year high of $175.85. The stock’s fifty day moving average is $119.26 and its 200 day moving average is $139.18. The stock has a market cap of $3.16 billion, a P/E ratio of 20.76 and a beta of 0.30.

Palomar (NASDAQ:PLMR) last announced its earnings results on Friday, December 16th. The company reported $0.07 EPS for the quarter. Palomar had a return on equity of 20.35% and a net margin of 22.71%.The company had revenue of $65.74 million for the quarter. Analysts predict that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on PLMR shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Palomar in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods dropped their price target on Palomar from $204.00 to $172.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Evercore ISI dropped their price target on Palomar from $168.00 to $134.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 1st. Wall Street Zen downgraded Palomar from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Finally, Piper Sandler dropped their price target on Palomar from $177.00 to $151.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 6th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Palomar presently has an average rating of “Moderate Buy” and a consensus price target of $156.67.

Insider Buying and Selling

In other Palomar news, CEO Mac Armstrong sold 5,000 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $116.02, for a total transaction of $580,100.00. Following the sale, the chief executive officer directly owned 372,388 shares of the company’s stock, valued at $43,204,455.76. This trade represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Jon Christianson sold 521 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $120.13, for a total value of $62,587.73. Following the sale, the president directly owned 59,036 shares in the company, valued at approximately $7,091,994.68. This represents a 0.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,714 shares of company stock worth $2,383,044 in the last quarter. Company insiders own 3.70% 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.