Palomar Holdings, Inc. $PLMR Stock Position Decreased by Intech Investment Management LLC

Intech Investment Management LLC cut its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 36.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,641 shares of the company’s stock after selling 13,364 shares during the quarter. Intech Investment Management LLC owned 0.09% of Palomar worth $3,186,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PLMR. Alliancebernstein L.P. boosted its stake in shares of Palomar by 290.2% during the 2nd quarter. Alliancebernstein L.P. now owns 497,080 shares of the company’s stock worth $76,675,000 after acquiring an additional 369,697 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in shares of Palomar by 81.0% in the third quarter. Westfield Capital Management Co. LP now owns 738,528 shares of the company’s stock worth $86,223,000 after buying an additional 330,592 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Palomar by 72.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 785,165 shares of the company’s stock worth $105,809,000 after buying an additional 328,993 shares during the period. Orion Porfolio Solutions LLC boosted its position in shares of Palomar by 2,753.2% in the second quarter. Orion Porfolio Solutions LLC now owns 180,491 shares of the company’s stock worth $27,841,000 after buying an additional 174,165 shares during the period. Finally, Freestone Grove Partners LP boosted its position in shares of Palomar by 128.2% in the third quarter. Freestone Grove Partners LP now owns 225,517 shares of the company’s stock worth $26,329,000 after buying an additional 126,689 shares during the period. 90.25% of the stock is owned by institutional investors.

Insider Transactions at Palomar

In other news, President Jon Christianson sold 3,000 shares of Palomar stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $125.00, for a total value of $375,000.00. Following the transaction, the president directly owned 62,919 shares in the company, valued at approximately $7,864,875. The trade was a 4.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mac Armstrong sold 3,500 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $120.58, for a total value of $422,030.00. Following the transaction, the chief executive officer owned 339,888 shares in the company, valued at $40,983,695.04. This represents a 1.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 18,634 shares of company stock worth $2,318,111 over the last quarter. 3.70% of the stock is currently owned by corporate insiders.

Palomar Trading Up 0.2%

Palomar stock opened at $107.24 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.49 and a current ratio of 0.49. The business’s 50-day simple moving average is $119.64 and its 200-day simple moving average is $124.01. The firm has a market capitalization of $2.84 billion, a PE ratio of 14.94 and a beta of 0.49. Palomar Holdings, Inc. has a 52 week low of $105.51 and a 52 week high of $175.85.

Palomar (NASDAQ:PLMR) last posted 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 return on equity of 22.62% and a net margin of 20.11%.The firm’s revenue for the quarter was up 59.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.87 earnings per share. Equities research analysts forecast that Palomar Holdings, Inc. will post 8.94 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on PLMR shares. Wall Street Zen cut Palomar from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. Evercore started coverage on Palomar in a research report on Monday, February 9th. They issued an “outperform” rating and a $150.00 target price for the company. Weiss Ratings cut Palomar from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 7th. Keefe, Bruyette & Woods decreased their target price on Palomar from $186.00 to $159.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Finally, Zacks Research cut Palomar from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Palomar presently has a consensus rating of “Moderate Buy” and an average price target of $147.75.

Palomar Company 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.