Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Bought by Legato Capital Management LLC

Legato Capital Management LLC raised its stake in Palomar Holdings, Inc. (NASDAQ:PLMR) by 8.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,920 shares of the company’s stock after purchasing an additional 436 shares during the period. Legato Capital Management LLC’s holdings in Palomar were worth $625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Louisiana State Employees Retirement System boosted its stake in Palomar by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company’s stock valued at $1,352,000 after acquiring an additional 100 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Palomar by 0.7% in the fourth quarter. State of Alaska Department of Revenue now owns 15,042 shares of the company’s stock valued at $1,588,000 after acquiring an additional 100 shares in the last quarter. Hunter Associates Investment Management LLC boosted its stake in Palomar by 6.8% in the fourth quarter. Hunter Associates Investment Management LLC now owns 17,689 shares of the company’s stock valued at $1,872,000 after acquiring an additional 1,120 shares in the last quarter. Moody Aldrich Partners LLC boosted its stake in Palomar by 130.4% in the fourth quarter. Moody Aldrich Partners LLC now owns 62,322 shares of the company’s stock valued at $6,581,000 after acquiring an additional 35,270 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of Palomar by 44.9% in the fourth quarter. KBC Group NV now owns 1,045 shares of the company’s stock valued at $110,000 after buying an additional 324 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Insider Buying and Selling

In other Palomar news, insider Jonathan Knutzen sold 282 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $104.46, for a total value of $29,457.72. Following the completion of the transaction, the insider now directly owns 20,098 shares of the company’s stock, valued at approximately $2,099,437.08. This trade represents a 1.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO T Christopher Uchida sold 1,030 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $110.85, for a total transaction of $114,175.50. Following the completion of the transaction, the chief financial officer now directly owns 15,994 shares of the company’s stock, valued at approximately $1,772,934.90. This trade represents a 6.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,933 shares of company stock valued at $4,030,156 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Palomar Stock Up 14.7 %

NASDAQ PLMR opened at $125.04 on Friday. The stock has a market capitalization of $3.31 billion, a P/E ratio of 29.70 and a beta of 0.38. Palomar Holdings, Inc. has a 52-week low of $59.45 and a 52-week high of $128.38. The firm has a 50-day moving average price of $106.96 and a 200 day moving average price of $100.51.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.13. Palomar had a net margin of 21.55% and a return on equity of 19.65%. On average, equities research analysts expect that Palomar Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PLMR shares. Piper Sandler upped their target price on shares of Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, January 6th. JPMorgan Chase & Co. upped their target price on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods upped their target price on shares of Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Palomar in a report on Thursday. Three equities 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $115.50.

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.