Victory Capital Management Inc. Has $18.06 Million Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Victory Capital Management Inc. boosted its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 7.4% in the third quarter, HoldingsChannel reports. The firm owned 190,742 shares of the company’s stock after acquiring an additional 13,064 shares during the period. Victory Capital Management Inc.’s holdings in Palomar were worth $18,058,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Palomar by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 2,403,520 shares of the company’s stock valued at $201,487,000 after purchasing an additional 40,453 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Palomar by 15.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 508,870 shares of the company’s stock valued at $41,295,000 after purchasing an additional 66,478 shares during the last quarter. Emerald Advisers LLC raised its position in Palomar by 1.9% in the 3rd quarter. Emerald Advisers LLC now owns 449,973 shares of the company’s stock valued at $42,599,000 after purchasing an additional 8,601 shares during the last quarter. Artemis Investment Management LLP raised its position in Palomar by 12.9% in the 3rd quarter. Artemis Investment Management LLP now owns 383,276 shares of the company’s stock valued at $36,285,000 after purchasing an additional 43,812 shares during the last quarter. Finally, Driehaus Capital Management LLC raised its position 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 purchasing an additional 43,841 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

Insider Buying and Selling at Palomar

In other Palomar news, President Jon Christianson sold 2,195 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $104.10, for a total value of $228,499.50. Following the completion of the transaction, the president now directly owns 51,926 shares of the company’s stock, valued at approximately $5,405,496.60. The trade was a 4.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO T Christopher Uchida sold 1,111 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $104.00, for a total value of $115,544.00. Following the completion of the transaction, the chief financial officer now directly owns 16,432 shares of the company’s stock, valued at approximately $1,708,928. The trade was a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,076 shares of company stock valued at $3,806,029. Company insiders own 4.30% of the company’s stock.

Palomar Stock Up 4.6 %

Shares of Palomar stock opened at $108.48 on Tuesday. Palomar Holdings, Inc. has a 12 month low of $54.50 and a 12 month high of $109.44. The business has a fifty day simple moving average of $95.77 and a 200 day simple moving average of $90.29. The stock has a market cap of $2.87 billion, a PE ratio of 24.76 and a beta of 0.34.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.20. Palomar had a return on equity of 19.65% and a net margin of 21.55%. The business had revenue of $148.50 million during the quarter, compared to analysts’ expectations of $134.72 million. During the same period in the previous year, the firm earned $0.80 earnings per share. Analysts expect that Palomar Holdings, Inc. will post 4.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Truist Financial lifted their price objective on Palomar from $100.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Jefferies Financial Group boosted their target price on Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their target price on Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Piper Sandler boosted their target price on Palomar from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Evercore ISI boosted their target price on Palomar from $90.00 to $99.00 and gave the stock an “in-line” rating in a research report on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.00.

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.