Stephens Investment Management Group LLC Increases Position in Palomar Holdings, Inc. $PLMR

Stephens Investment Management Group LLC increased its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 3.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 579,458 shares of the company’s stock after acquiring an additional 19,908 shares during the period. Stephens Investment Management Group LLC owned approximately 2.16% of Palomar worth $67,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in shares of Palomar by 2.1% in the second quarter. American Century Companies Inc. now owns 846,312 shares of the company’s stock worth $130,544,000 after purchasing an additional 17,188 shares during the last quarter. Invesco Ltd. increased its holdings in Palomar by 234.1% in the 2nd quarter. Invesco Ltd. now owns 798,361 shares of the company’s stock worth $123,147,000 after buying an additional 559,383 shares during the period. Geode Capital Management LLC raised its position in Palomar by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 657,530 shares of the company’s stock worth $101,436,000 after buying an additional 13,802 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Palomar by 290.2% during the 2nd quarter. Alliancebernstein L.P. now owns 497,080 shares of the company’s stock valued at $76,675,000 after acquiring an additional 369,697 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Palomar by 11.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 456,172 shares of the company’s stock valued at $53,258,000 after acquiring an additional 45,665 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Palomar Stock Down 1.5%

Shares of Palomar stock opened at $128.46 on Friday. The firm has a market cap of $3.40 billion, a PE ratio of 20.04 and a beta of 0.42. Palomar Holdings, Inc. has a twelve month low of $101.64 and a twelve month high of $175.85. The business has a 50-day moving average price of $128.15 and a 200 day moving average price of $125.16.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings data on Thursday, November 6th. The company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.56 by $0.45. The company had revenue of $244.66 million for the quarter, compared to analyst estimates of $207.98 million. Palomar had a return on equity of 21.93% and a net margin of 22.59%.During the same period last year, the company earned $1.23 earnings per share. On average, sell-side analysts expect that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Insider Activity at Palomar

In other news, insider Jonathan Knutzen sold 281 shares of Palomar stock in a transaction dated 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 owned 21,565 shares in the company, valued at $2,778,434.60. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO T Christopher Uchida sold 782 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $128.84, for a total transaction of $100,752.88. Following the sale, the chief financial officer directly owned 7,916 shares of the company’s stock, valued at $1,019,897.44. This represents a 8.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,276 shares of company stock worth $1,630,956 over the last 90 days. 3.70% of the stock is owned by insiders.

Analyst Ratings Changes

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

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.