SG Americas Securities LLC Purchases 9,024 Shares of Palomar Holdings, Inc. $PLMR

SG Americas Securities LLC increased its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 456.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,001 shares of the company’s stock after purchasing an additional 9,024 shares during the quarter. SG Americas Securities LLC’s holdings in Palomar were worth $1,284,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLMR. Wealth Enhancement Advisory Services LLC raised its stake in shares of Palomar by 3.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,461 shares of the company’s stock valued at $363,000 after buying an additional 90 shares in the last quarter. California State Teachers Retirement System raised its position in Palomar by 0.4% in the second quarter. California State Teachers Retirement System now owns 24,207 shares of the company’s stock worth $3,734,000 after purchasing an additional 97 shares in the last quarter. Bank of Montreal Can raised its position in Palomar by 1.7% in the second quarter. Bank of Montreal Can now owns 5,766 shares of the company’s stock worth $889,000 after purchasing an additional 98 shares in the last quarter. GAMMA Investing LLC lifted its stake in Palomar by 14.4% during the second quarter. GAMMA Investing LLC now owns 833 shares of the company’s stock worth $128,000 after purchasing an additional 105 shares during the period. Finally, Maryland State Retirement & Pension System boosted its holdings in Palomar by 1.5% during the second quarter. Maryland State Retirement & Pension System now owns 7,859 shares of the company’s stock valued at $1,212,000 after purchasing an additional 113 shares in the last quarter. Institutional investors own 90.25% of the company’s stock.

Wall Street Analysts Forecast Growth

PLMR has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Palomar from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, January 7th. Evercore ISI dropped their price objective on Palomar from $168.00 to $134.00 and set an “in-line” rating for the company in a research note on Wednesday, October 1st. Wall Street Zen raised Palomar from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Weiss Ratings raised shares of Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Palomar from $170.00 to $171.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Palomar has a consensus rating of “Moderate Buy” and a consensus target price of $159.50.

Insider Activity at Palomar

In related news, CFO T Christopher Uchida sold 782 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $128.84, for a total value of $100,752.88. Following the completion of the transaction, the chief financial officer owned 7,916 shares in the company, valued at $1,019,897.44. The trade was a 8.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mac Armstrong sold 5,000 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $122.86, for a total value of $614,300.00. Following the completion of the transaction, the chief executive officer owned 358,388 shares in the company, valued at $44,031,549.68. The trade was a 1.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,276 shares of company stock valued at $1,630,956 over the last ninety days. Company insiders own 3.70% of the company’s stock.

Palomar Stock Performance

Shares of PLMR stock opened at $128.46 on Friday. The stock’s fifty day moving average is $128.15 and its 200-day moving average is $125.16. The stock has a market capitalization of $3.40 billion, a PE ratio of 20.04 and a beta of 0.42. Palomar Holdings, Inc. has a 52 week low of $101.64 and a 52 week high of $175.85.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results on Thursday, November 6th. The company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.45. Palomar had a net margin of 22.59% and a return on equity of 21.93%. The business had revenue of $244.66 million for the quarter, compared to the consensus estimate of $207.98 million. During the same quarter in the prior year, the company earned $1.23 EPS. As a group, analysts forecast that Palomar Holdings, Inc. will post 5.99 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.