UBS Group AG Sells 69,952 Shares of Palomar Holdings, Inc. $PLMR

UBS Group AG decreased its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 71.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,373 shares of the company’s stock after selling 69,952 shares during the quarter. UBS Group AG’s holdings in Palomar were worth $3,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of PLMR. Geneos Wealth Management Inc. bought a new stake in Palomar during the 4th quarter valued at $32,000. Clearstead Advisors LLC raised its holdings in Palomar by 31.0% during the 3rd quarter. Clearstead Advisors LLC now owns 397 shares of the company’s stock valued at $46,000 after acquiring an additional 94 shares during the period. IFP Advisors Inc raised its holdings in Palomar by 43.9% during the 3rd 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. Advisory Services Network LLC bought a new stake in Palomar during the 3rd quarter valued at $57,000. Finally, Farther Finance Advisors LLC raised its holdings in Palomar by 127.9% during the 4th quarter. Farther Finance Advisors LLC now owns 490 shares of the company’s stock valued at $66,000 after acquiring an additional 275 shares during the period. Institutional investors own 90.25% of the company’s stock.

Insider Buying and Selling at Palomar

In related news, CEO Mac Armstrong sold 3,500 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $120.58, for a total value of $422,030.00. Following the completion of the transaction, the chief executive officer directly owned 339,888 shares in the company, valued at approximately $40,983,695.04. The trade was a 1.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Jon Christianson sold 3,000 shares of the company’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $125.00, for a total transaction of $375,000.00. Following the completion of the transaction, the president owned 62,919 shares of the company’s stock, valued at $7,864,875. This trade represents a 4.55% decrease in their ownership of the stock. 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 18,634 shares of company stock valued at $2,318,111 over the last quarter. 3.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on PLMR. Keefe, Bruyette & Woods lowered their target price on shares of Palomar from $186.00 to $159.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Evercore started coverage on shares of Palomar in a report on Monday, February 9th. They set an “outperform” rating and a $150.00 target price on the stock. Zacks Research cut shares of Palomar from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. JPMorgan Chase & Co. upped their price target on shares of Palomar from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Finally, Piper Sandler decreased their price target on shares of Palomar from $151.00 to $132.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Palomar presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.25.

Palomar Stock Down 1.0%

Shares of NASDAQ:PLMR opened at $113.87 on Friday. Palomar Holdings, Inc. has a 52-week low of $107.51 and a 52-week high of $175.85. The firm has a fifty day moving average of $120.66 and a 200 day moving average of $124.48. The firm has a market capitalization of $3.02 billion, a PE ratio of 15.86 and a beta of 0.49. 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 earnings results on Wednesday, May 6th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.14. Palomar had a net margin of 20.11% and a return on equity of 22.62%. The company had revenue of $278.94 million during the quarter, compared to analyst estimates of $557.79 million. During the same period in the previous year, the business earned $1.87 earnings per share. The firm’s quarterly revenue was up 59.7% compared to the same quarter last year. As a group, research analysts anticipate that Palomar Holdings, Inc. will post 9.02 EPS for the current fiscal year.

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.