5,650 Shares in Palomar Holdings, Inc. $PLMR Purchased by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC acquired a new stake in Palomar Holdings, Inc. (NASDAQ:PLMR) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 5,650 shares of the company’s stock, valued at approximately $675,000.

A number of other institutional investors also recently modified their holdings of the stock. Geneos Wealth Management Inc. bought a new stake in shares of Palomar during the fourth quarter valued at approximately $32,000. Kestra Advisory Services LLC acquired a new position in Palomar during the 4th quarter worth $33,000. Rockefeller Capital Management L.P. boosted its position in Palomar by 81.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 294 shares of the company’s stock valued at $40,000 after buying an additional 132 shares during the last quarter. Frazier Financial Advisors LLC bought a new stake in shares of Palomar during the fourth quarter worth $54,000. Finally, IFP Advisors Inc lifted its stake in shares of Palomar by 43.9% during the third quarter. IFP Advisors Inc now owns 482 shares of the company’s stock valued at $56,000 after acquiring an additional 147 shares during the period. 90.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PLMR. Piper Sandler lifted their price objective on Palomar from $132.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday. Evercore set a $152.00 price objective on shares of Palomar in a report on Friday, July 10th. Weiss Ratings raised shares of Palomar from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 18th. Zacks Research cut shares of Palomar from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Finally, JPMorgan Chase & Co. cut their price target on Palomar from $160.00 to $150.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 26th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $158.25.

Palomar Stock Up 0.9%

NASDAQ:PLMR opened at $135.44 on Friday. The stock has a 50-day simple moving average of $119.29 and a 200 day simple moving average of $123.22. Palomar Holdings, Inc. has a 52-week low of $100.81 and a 52-week high of $147.62. The company has a market cap of $3.59 billion, a PE ratio of 18.86 and a beta of 0.41. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.49 and a current ratio of 0.49.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.14. The business had revenue of $278.94 million for the quarter, compared to analyst estimates of $557.79 million. Palomar had a net margin of 20.11% and a return on equity of 22.62%. The firm’s revenue for the quarter was up 59.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.87 earnings per share. On average, sell-side analysts expect that Palomar Holdings, Inc. will post 8.9 EPS for the current fiscal year.

Insider Buying and Selling at Palomar

In other news, insider Timothy Carter sold 480 shares of Palomar stock in a transaction dated Sunday, June 28th. The shares were sold at an average price of $124.29, for a total value of $59,659.20. Following the completion of the transaction, the insider owned 1,670 shares of the company’s stock, valued at $207,564.30. This trade represents a 22.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mac Armstrong sold 3,500 shares of Palomar stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $112.96, for a total value of $395,360.00. Following the transaction, the chief executive officer owned 329,388 shares of the company’s stock, valued at $37,207,668.48. The trade was a 1.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 17,843 shares of company stock worth $2,270,468 over the last quarter. 3.70% of the stock is currently owned by insiders.

About Palomar

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.