Signaturefd LLC Increases Stock Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Signaturefd LLC grew its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 59.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 593 shares of the company’s stock after purchasing an additional 221 shares during the period. Signaturefd LLC’s holdings in Palomar were worth $33,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PLMR. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Palomar by 1.0% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 954,290 shares of the company’s stock valued at $52,963,000 after acquiring an additional 9,462 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Palomar by 26.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 433,346 shares of the company’s stock valued at $21,992,000 after buying an additional 89,410 shares during the period. Federated Hermes Inc. boosted its stake in shares of Palomar by 1.9% in the 4th quarter. Federated Hermes Inc. now owns 199,679 shares of the company’s stock valued at $11,082,000 after buying an additional 3,737 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Palomar by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 195,862 shares of the company’s stock worth $9,940,000 after buying an additional 6,903 shares in the last quarter. Finally, Oak Ridge Investments LLC increased its stake in shares of Palomar by 29.9% during the fourth quarter. Oak Ridge Investments LLC now owns 64,893 shares of the company’s stock worth $3,602,000 after buying an additional 14,940 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Insider Activity

In other news, President Jon Christianson sold 10,000 shares of Palomar stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $82.09, for a total value of $820,900.00. Following the transaction, the president now directly owns 59,761 shares of the company’s stock, valued at approximately $4,905,780.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO T Christopher Uchida sold 750 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $74.36, for a total transaction of $55,770.00. Following the completion of the sale, the chief financial officer now owns 29,844 shares in the company, valued at $2,219,199.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Jon Christianson sold 10,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $82.09, for a total value of $820,900.00. Following the completion of the transaction, the president now owns 59,761 shares in the company, valued at approximately $4,905,780.49. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,250 shares of company stock valued at $3,305,655. 4.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PLMR has been the subject of a number of recent research reports. Jefferies Financial Group upgraded shares of Palomar from a “hold” rating to a “buy” rating and lifted their price target for the stock from $78.00 to $88.00 in a research note on Thursday, March 14th. Keefe, Bruyette & Woods boosted their target price on shares of Palomar from $88.00 to $89.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Piper Sandler increased their target price on Palomar from $80.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Evercore ISI lifted their price target on Palomar from $68.00 to $86.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Finally, Truist Financial increased their price objective on Palomar from $72.00 to $88.00 and gave the company a “buy” rating in a report on Friday, February 16th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $87.50.

Palomar Price Performance

NASDAQ PLMR opened at $80.82 on Friday. The company has a fifty day moving average of $78.87 and a two-hundred day moving average of $66.10. The company has a market capitalization of $2.01 billion, a PE ratio of 25.90 and a beta of 0.24. Palomar Holdings, Inc. has a 1 year low of $46.09 and a 1 year high of $86.25.

Palomar (NASDAQ:PLMR) last announced its earnings results on Thursday, May 2nd. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.28. The firm had revenue of $108.39 million during the quarter, compared to analysts’ expectations of $322.10 million. Palomar had a return on equity of 19.35% and a net margin of 21.07%. The business’s revenue was up 29.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 EPS. On average, research analysts expect that Palomar Holdings, Inc. will post 3.84 earnings per share 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.