Aubrey Capital Management Ltd Invests $2.32 Million in Palomar Holdings, Inc. $PLMR

Aubrey Capital Management Ltd purchased a new position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 17,200 shares of the company’s stock, valued at approximately $2,318,000.

A number of other hedge funds have also modified their holdings of PLMR. Royal Bank of Canada grew its holdings in shares of Palomar by 49.1% during the 1st quarter. Royal Bank of Canada now owns 2,956 shares of the company’s stock worth $406,000 after purchasing an additional 974 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Palomar by 5.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,427 shares of the company’s stock worth $2,115,000 after purchasing an additional 791 shares during the period. NewEdge Advisors LLC purchased a new position in shares of Palomar during the 1st quarter worth $66,000. United Services Automobile Association purchased a new position in shares of Palomar during the 1st quarter worth $223,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Palomar by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,661 shares of the company’s stock valued at $9,960,000 after acquiring an additional 7,754 shares during the period. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Palomar Price Performance

PLMR stock opened at $113.36 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.49 and a quick ratio of 0.50. The firm has a market capitalization of $3.01 billion, a P/E ratio of 15.79 and a beta of 0.49. The business’s 50-day moving average is $123.26 and its two-hundred day moving average is $124.67. Palomar Holdings, Inc. has a 1 year low of $107.75 and a 1 year high of $175.85.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.14. The company had revenue of $278.94 million for the quarter, compared to analyst estimates of $557.79 million. Palomar had a return on equity of 22.62% and a net margin of 20.11%.Palomar’s revenue for the quarter was up 59.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.87 EPS. Analysts anticipate that Palomar Holdings, Inc. will post 8.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PLMR has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised their target price on Palomar from $183.00 to $186.00 and gave the company an “outperform” rating in a report on Tuesday, April 7th. JPMorgan Chase & Co. raised their target price on Palomar from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Wall Street Zen cut Palomar from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. Weiss Ratings cut Palomar from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. Finally, Evercore initiated coverage on Palomar in a report on Monday, February 9th. They set an “outperform” rating and a $150.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $161.75.

Insider Buying and Selling

In other Palomar news, President Jon Christianson sold 1,937 shares of the stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $128.62, for a total value of $249,136.94. Following the sale, the president owned 65,919 shares of the company’s stock, valued at $8,478,501.78. This trade represents a 2.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Knutzen sold 281 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $128.04, for a total value of $35,979.24. Following the completion of the sale, the insider directly owned 27,579 shares in the company, valued at $3,531,215.16. This represents a 1.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 21,720 shares of company stock worth $2,733,817 over the last 90 days. 3.70% of the stock is currently owned by company insiders.

Palomar Profile

Palomar Holdings, Inc (NASDAQ: PLMR) is a specialty insurance holding company focused on providing medical stop-loss coverage and related administrative services to self-funded employer health plans in the United States. The firm operates through two primary business segments—Medical Stop-Loss and Specialty Program Management—to deliver tailored risk protection and comprehensive program administration.

In its Medical Stop-Loss segment, Palomar underwrites excess and aggregate stop-loss policies designed to shield self-insured employers from catastrophic medical claims that exceed pre-determined retention levels.