Voya Investment Management LLC Sells 5,998 Shares of Palomar Holdings, Inc. $PLMR

Voya Investment Management LLC decreased its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR) by 55.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,790 shares of the company’s stock after selling 5,998 shares during the period. Voya Investment Management LLC’s holdings in Palomar were worth $559,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new stake in Palomar during the first quarter valued at approximately $314,000. Advisors Asset Management Inc. increased its position in shares of Palomar by 867.0% during the 1st quarter. Advisors Asset Management Inc. now owns 8,229 shares of the company’s stock valued at $1,128,000 after purchasing an additional 7,378 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Palomar during the 1st quarter valued at approximately $591,000. Osaic Holdings Inc. raised its holdings in Palomar by 93.7% during the 2nd quarter. Osaic Holdings Inc. now owns 19,370 shares of the company’s stock valued at $2,933,000 after buying an additional 9,371 shares during the period. Finally, Coppell Advisory Solutions LLC lifted its position in Palomar by 3,912.3% in the first quarter. Coppell Advisory Solutions LLC now owns 8,787 shares of the company’s stock worth $1,205,000 after buying an additional 8,568 shares during the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Palomar Trading Down 0.1%

NASDAQ PLMR opened at $134.76 on Friday. The stock has a market cap of $3.57 billion, a PE ratio of 21.02 and a beta of 0.41. Palomar Holdings, Inc. has a 12 month low of $98.42 and a 12 month high of $175.85. The company’s 50-day moving average price is $124.89 and its 200-day moving average price is $127.15.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data on Friday, December 16th. The company reported $0.07 earnings per share (EPS) for the quarter. The company had revenue of $65.74 million during the quarter. Palomar had a net margin of 22.59% and a return on equity of 21.93%. As a group, sell-side analysts forecast that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Insider Transactions at Palomar

In other Palomar news, CEO Mac Armstrong sold 5,000 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was 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 in the company, valued at $44,031,549.68. This trade represents a 1.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jonathan Knutzen sold 281 shares of Palomar stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $128.84, for a total value of $36,204.04. Following the sale, the insider directly owned 21,565 shares of the company’s stock, valued at approximately $2,778,434.60. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 16,494 shares of company stock worth $2,004,566 in the last ninety days. 3.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Palomar from $164.00 to $170.00 and gave the company an “outperform” rating in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Palomar in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of Palomar from $137.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Evercore ISI decreased their price objective on shares of Palomar from $168.00 to $134.00 and set an “in-line” rating for the company in a research note on Wednesday, October 1st. Finally, Wall Street Zen lowered Palomar from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $157.67.

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.