Coppell Advisory Solutions LLC Acquires 8,568 Shares of Palomar Holdings, Inc. $PLMR

Coppell Advisory Solutions LLC raised its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR) by 3,912.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,787 shares of the company’s stock after purchasing an additional 8,568 shares during the period. Coppell Advisory Solutions LLC’s holdings in Palomar were worth $1,205,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. American Century Companies Inc. boosted its stake in shares of Palomar by 5.6% in the first quarter. American Century Companies Inc. now owns 829,124 shares of the company’s stock valued at $113,656,000 after buying an additional 43,705 shares during the period. Westfield Capital Management Co. LP lifted its position in shares of Palomar by 4.2% during the 1st quarter. Westfield Capital Management Co. LP now owns 618,598 shares of the company’s stock valued at $84,797,000 after acquiring an additional 25,138 shares during the period. Driehaus Capital Management LLC lifted its position in shares of Palomar by 3.1% during the 1st quarter. Driehaus Capital Management LLC now owns 559,156 shares of the company’s stock valued at $76,649,000 after acquiring an additional 17,014 shares during the period. Artemis Investment Management LLP grew its holdings in shares of Palomar by 17.0% during the 1st quarter. Artemis Investment Management LLP now owns 532,554 shares of the company’s stock worth $73,003,000 after purchasing an additional 77,472 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Palomar by 4.3% in the first quarter. Northern Trust Corp now owns 290,283 shares of the company’s stock worth $39,792,000 after purchasing an additional 12,043 shares during the period. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PLMR. Evercore ISI upped their price objective on shares of Palomar from $163.00 to $168.00 and gave the stock an “in-line” rating in a research report on Friday, May 30th. Keefe, Bruyette & Woods cut their price target on shares of Palomar from $204.00 to $172.00 and set an “outperform” rating for the company in a report on Friday, August 8th. Piper Sandler reduced their price target on shares of Palomar from $177.00 to $151.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 6th. Wall Street Zen downgraded shares of Palomar from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Finally, JPMorgan Chase & Co. cut their target price on Palomar from $170.00 to $158.00 and set an “overweight” rating for the company in a research note on Monday, August 11th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Palomar has an average rating of “Moderate Buy” and an average price target of $165.83.

Palomar Price Performance

PLMR stock opened at $123.79 on Tuesday. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 21.76 and a beta of 0.34. The company has a 50 day simple moving average of $130.34 and a 200 day simple moving average of $141.47. Palomar Holdings, Inc. has a 1 year low of $85.00 and a 1 year high of $175.85.

Palomar (NASDAQ:PLMR) last posted its earnings results on Monday, August 4th. The company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.08. The firm had revenue of $496.29 million for the quarter, compared to analysts’ expectations of $173.86 million. Palomar had a net margin of 22.71% and a return on equity of 20.35%. The company’s revenue was up 47.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. On average, equities research analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other Palomar news, CEO Mac Armstrong sold 5,000 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $158.14, for a total value of $790,700.00. Following the completion of the transaction, the chief executive officer directly owned 387,388 shares in the company, valued at approximately $61,261,538.32. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Jon Christianson sold 521 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $120.13, for a total value of $62,587.73. Following the completion of the transaction, the president directly owned 59,036 shares of the company’s stock, valued at $7,091,994.68. This represents a 0.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,878 shares of company stock worth $3,202,297. Company insiders own 3.70% of the company’s stock.

Palomar Profile

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.