Hunter Associates Investment Management LLC Has $2.32 Million Stock Holdings in Palomar Holdings, Inc. $PLMR

Hunter Associates Investment Management LLC raised its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 40.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,785 shares of the company’s stock after buying an additional 5,741 shares during the period. Hunter Associates Investment Management LLC owned about 0.07% of Palomar worth $2,319,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. American Century Companies Inc. raised its holdings in shares of Palomar by 2.1% during the second quarter. American Century Companies Inc. now owns 846,312 shares of the company’s stock worth $130,544,000 after acquiring an additional 17,188 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Palomar by 234.1% during the 2nd quarter. Invesco Ltd. now owns 798,361 shares of the company’s stock valued at $123,147,000 after buying an additional 559,383 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Palomar by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 657,530 shares of the company’s stock valued at $101,436,000 after buying an additional 13,802 shares during the last quarter. Stephens Investment Management Group LLC grew its stake in shares of Palomar by 3.6% in the 3rd quarter. Stephens Investment Management Group LLC now owns 579,458 shares of the company’s stock valued at $67,652,000 after buying an additional 19,908 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Palomar by 290.2% in the second quarter. Alliancebernstein L.P. now owns 497,080 shares of the company’s stock worth $76,675,000 after buying an additional 369,697 shares during the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Palomar Price Performance

PLMR stock opened at $124.95 on Friday. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 19.49 and a beta of 0.42. The company has a 50-day moving average of $127.91 and a two-hundred day moving average of $124.55. Palomar Holdings, Inc. has a 52-week low of $101.64 and a 52-week high of $175.85.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings data on Thursday, November 6th. The company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.45. The business had revenue of $244.66 million during the quarter, compared to analysts’ expectations of $207.98 million. Palomar had a return on equity of 21.93% and a net margin of 22.59%.During the same quarter in the previous year, the firm earned $1.23 EPS. Equities analysts expect that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on PLMR shares. JPMorgan Chase & Co. boosted their target price on shares of Palomar from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods upped their price objective on shares of Palomar from $170.00 to $171.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Evercore ISI lowered their target price on shares of Palomar from $168.00 to $134.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 1st. Weiss Ratings raised Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, January 14th. Finally, Wall Street Zen upgraded Palomar from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Palomar currently has an average rating of “Moderate Buy” and an average target price of $159.50.

Insider Activity at Palomar

In other news, CFO T Christopher Uchida sold 782 shares of the business’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $128.84, for a total transaction of $100,752.88. Following the transaction, the chief financial officer owned 7,916 shares in the company, valued at approximately $1,019,897.44. The trade was a 8.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mac Armstrong sold 5,000 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $122.86, for a total transaction of $614,300.00. Following the transaction, the chief executive officer directly owned 358,388 shares of the company’s stock, valued at $44,031,549.68. This represents a 1.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 15,586 shares of company stock worth $1,999,706. 3.70% of the stock is 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.