Palomar Holdings, Inc. $PLMR Shares Bought by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC lifted its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 3.0% during the first quarter, Holdings Channel reports. The fund owned 714,914 shares of the company’s stock after purchasing an additional 20,597 shares during the quarter. Palomar accounts for 1.2% of Stephens Investment Management Group LLC’s investment portfolio, making the stock its 17th largest holding. Stephens Investment Management Group LLC’s holdings in Palomar were worth $85,432,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. purchased a new position in Palomar in the fourth quarter valued at about $32,000. Kestra Advisory Services LLC acquired a new stake in Palomar during the 4th quarter valued at approximately $33,000. Rockefeller Capital Management L.P. increased its holdings in Palomar by 81.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 294 shares of the company’s stock worth $40,000 after purchasing an additional 132 shares during the last quarter. Frazier Financial Advisors LLC purchased a new stake in Palomar during the 4th quarter worth approximately $54,000. Finally, IFP Advisors Inc raised its position in shares of Palomar by 43.9% in the 3rd quarter. IFP Advisors Inc now owns 482 shares of the company’s stock valued at $56,000 after purchasing an additional 147 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PLMR. Weiss Ratings upgraded Palomar from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 18th. Zacks Research downgraded shares of Palomar from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. JPMorgan Chase & Co. decreased their price target on shares of Palomar from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. Piper Sandler lowered their price objective on shares of Palomar from $151.00 to $132.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Palomar from $186.00 to $159.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Palomar has an average rating of “Moderate Buy” and a consensus price target of $147.75.

Insider Transactions at Palomar

In related news, insider Timothy Carter sold 480 shares of the business’s stock in a transaction that occurred on Sunday, June 28th. The shares were sold at an average price of $124.29, for a total value of $59,659.20. Following the sale, the insider directly owned 1,670 shares in the company, valued at $207,564.30. The trade was a 22.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Jon Christianson sold 3,000 shares of Palomar stock in a transaction that occurred 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 in the company, valued at approximately $7,864,875. This trade represents a 4.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 19,114 shares of company stock valued at $2,351,100 in the last quarter. Insiders own 3.70% of the company’s stock.

Palomar Stock Performance

PLMR stock opened at $140.00 on Friday. The company has a 50-day simple moving average of $115.64 and a 200 day simple moving average of $122.86. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $3.71 billion, a P/E ratio of 19.50 and a beta of 0.41. Palomar Holdings, Inc. has a fifty-two week low of $100.81 and a fifty-two week high of $148.53.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.14. Palomar had a net margin of 20.11% and a return on equity of 22.62%. The business had revenue of $278.94 million for the quarter, compared to analyst estimates of $557.79 million. During the same quarter last year, the business earned $1.87 earnings per share. The business’s revenue for the quarter was up 59.7% on a year-over-year basis. Sell-side analysts predict that Palomar Holdings, Inc. will post 8.93 earnings per share 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.