Jackson Creek Investment Advisors LLC Invests $1.51 Million in Palomar Holdings, Inc. (NASDAQ:PLMR)

Jackson Creek Investment Advisors LLC acquired a new position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 11,012 shares of the company’s stock, valued at approximately $1,510,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nisa Investment Advisors LLC boosted its position in shares of Palomar by 185.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 311 shares of the company’s stock valued at $43,000 after purchasing an additional 202 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of Palomar in the 1st quarter valued at about $46,000. NBC Securities Inc. acquired a new stake in shares of Palomar in the 1st quarter valued at about $53,000. USA Financial Formulas acquired a new stake in Palomar during the 1st quarter worth approximately $55,000. Finally, Farther Finance Advisors LLC lifted its position in Palomar by 21.8% during the 4th quarter. Farther Finance Advisors LLC now owns 554 shares of the company’s stock worth $58,000 after acquiring an additional 99 shares during the period. 90.25% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Palomar

In other news, insider Timothy Carter sold 473 shares of the firm’s stock in a transaction on Saturday, June 28th. The stock was sold at an average price of $153.65, for a total transaction of $72,676.45. Following the sale, the insider owned 361 shares in the company, valued at $55,467.65. This trade represents a 56.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO T Christopher Uchida sold 500 shares of Palomar stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $143.10, for a total value of $71,550.00. Following the completion of the transaction, the chief financial officer owned 6,920 shares in the company, valued at $990,252. The trade was a 6.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,164 shares of company stock worth $3,087,639 over the last quarter. 3.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PLMR shares. Keefe, Bruyette & Woods cut their target price on Palomar from $205.00 to $204.00 and set an “outperform” rating for the company in a research note on Monday, June 30th. Piper Sandler increased their target price on Palomar from $171.00 to $177.00 and gave the stock an “overweight” rating in a research note on Friday, May 30th. Wall Street Zen downgraded Palomar from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Evercore ISI increased their target price on Palomar from $163.00 to $168.00 and gave the stock an “in-line” rating in a research note on Friday, May 30th. Finally, Truist Financial raised their price objective on Palomar from $150.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.17.

Palomar Price Performance

NASDAQ:PLMR traded up $0.37 during trading hours on Friday, reaching $140.78. 20,975 shares of the company traded hands, compared to its average volume of 222,171. The firm’s 50-day moving average is $156.14 and its 200-day moving average is $136.98. The stock has a market cap of $3.76 billion, a P/E ratio of 28.05 and a beta of 0.46. Palomar Holdings, Inc. has a 1-year low of $82.55 and a 1-year high of $175.85.

Palomar (NASDAQ:PLMR) last announced its earnings results on Monday, May 5th. The company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.26. The firm had revenue of $174.63 million for the quarter, compared to analysts’ expectations of $161.97 million. Palomar had a return on equity of 20.56% and a net margin of 21.99%. During the same quarter in the prior year, the firm earned $1.09 EPS. As a group, research analysts predict that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

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.