Palomar Holdings, Inc. $PLMR Stock Holdings Reduced by Villere ST Denis J & Co. LLC

Villere ST Denis J & Co. LLC trimmed its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 5.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 246,543 shares of the company’s stock after selling 13,819 shares during the period. Palomar accounts for approximately 3.2% of Villere ST Denis J & Co. LLC’s portfolio, making the stock its 8th largest holding. Villere ST Denis J & Co. LLC’s holdings in Palomar were worth $29,462,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada lifted its position in shares of Palomar by 49.1% during the 1st quarter. Royal Bank of Canada now owns 2,956 shares of the company’s stock valued at $406,000 after buying an additional 974 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Palomar by 5.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,427 shares of the company’s stock worth $2,115,000 after acquiring an additional 791 shares during the last quarter. NewEdge Advisors LLC bought a new stake in Palomar in the 1st quarter valued at about $66,000. United Services Automobile Association purchased a new stake in Palomar during the first quarter valued at about $223,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Palomar by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,661 shares of the company’s stock worth $9,960,000 after purchasing an additional 7,754 shares during the period. 90.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Palomar from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 18th. Evercore set a $152.00 price objective on shares of Palomar in a report on Friday. 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. lowered their target price on shares of Palomar from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Tuesday, May 26th. Finally, Piper Sandler dropped their target price on Palomar from $151.00 to $132.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $150.00.

Palomar Price Performance

Shares of PLMR traded down $3.11 during midday trading on Friday, hitting $136.07. 338,476 shares of the company traded hands, compared to its average volume of 306,925. Palomar Holdings, Inc. has a one year low of $100.81 and a one year high of $147.62. The firm has a market cap of $3.61 billion, a P/E ratio of 18.95 and a beta of 0.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.49 and a quick ratio of 0.49. The stock has a 50-day moving average of $117.14 and a 200-day moving average of $123.25.

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

Insider Buying and Selling at Palomar

In other news, insider Timothy Carter sold 480 shares of the business’s stock in a transaction on Sunday, June 28th. The shares were sold at an average price of $124.29, for a total transaction of $59,659.20. Following the completion of the transaction, 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 at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mac Armstrong sold 3,500 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $112.96, for a total transaction of $395,360.00. Following the completion of the transaction, the chief executive officer directly owned 329,388 shares in the company, valued at approximately $37,207,668.48. The trade was a 1.05% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 22,977 shares of company stock valued at $2,933,488 in the last three months. Company insiders own 3.70% of the company’s stock.

Palomar Company Profile

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.