Aubrey Capital Management Ltd Invests $2.32 Million in Palomar Holdings, Inc. $PLMR

Key Points

• Aubrey Capital Management opened a new position in Palomar Holdings, buying 17,200 shares worth about $2.32 million in the fourth quarter.
• Palomar’s latest earnings showed EPS of $2.31, beating estimates, while revenue grew 59.7% year over year; analysts currently have a Buy consensus with a target price of $161.75.
• Insiders have recently been selling shares, including CEO Mac Armstrong, while institutional investors still own about 90.25% of the company.

Aubrey Capital Management Ltd bought a new position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 17,200 shares of the company's stock, valued at approximately $2,318,000. Aubrey Capital Management Ltd owned 0.06% of Palomar at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of Palomar by 14.0% during the 3rd quarter. Principal Financial Group Inc. now owns 182,255 shares of the company's stock worth $21,278,000 after buying an additional 22,346 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Palomar in the 3rd quarter valued at $1,459,000. Sumitomo Mitsui Trust Group Inc. raised its stake in 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 purchasing an additional 45,665 shares during the last quarter. Public Sector Pension Investment Board raised its stake in Palomar by 14.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 104,449 shares of the company's stock valued at $12,194,000 after purchasing an additional 13,270 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co acquired a new position in Palomar in the 3rd quarter valued at $1,392,000. 90.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on PLMR. Keefe, Bruyette & Woods increased their price objective on Palomar from $183.00 to $186.00 and gave the company an "outperform" rating in a research note on Tuesday, April 7th. JPMorgan Chase & Co. increased their price objective on Palomar from $155.00 to $160.00 and gave the company an "overweight" rating in a research note on Monday, February 23rd. Weiss Ratings downgraded Palomar from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday. Wall Street Zen downgraded Palomar from a "buy" rating to a "hold" rating in a research note on Sunday, March 1st. Finally, Evercore began coverage on Palomar in a research note on Monday, February 9th. They issued an "outperform" rating and a $150.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Palomar has a consensus rating of "Buy" and a consensus target price of $161.75.

Palomar Price Performance

Shares of PLMR opened at $113.36 on Monday. Palomar Holdings, Inc. has a 52-week low of $107.75 and a 52-week high of $175.85. The company has a market capitalization of $3.01 billion, a PE ratio of 15.79 and a beta of 0.49. The stock has a fifty day simple moving average of $123.26 and a two-hundred day simple moving average of $124.67. The company has a quick ratio of 0.50, a current ratio of 0.49 and a debt-to-equity ratio of 0.31.

Palomar (NASDAQ:PLMR - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.17 by $0.14. Palomar had a return on equity of 22.62% and a net margin of 20.11%.The business had revenue of $278.94 million during the quarter, compared to the consensus estimate of $557.79 million. During the same period last year, the company earned $1.87 EPS. The company's revenue for the quarter was up 59.7% on a year-over-year basis. As a group, equities analysts forecast that Palomar Holdings, Inc. will post 8.97 EPS for the current year.

Insider Buying and Selling

In other Palomar news, CEO Mac Armstrong sold 3,500 shares of the firm's stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $130.77, for a total value of $457,695.00. Following the completion of the sale, the chief executive officer directly owned 336,388 shares of the company's stock, valued at $43,989,458.76. This trade represents a 1.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Knutzen sold 281 shares of the firm's stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $128.04, for a total value of $35,979.24. Following the completion of the sale, the insider directly owned 27,579 shares of the company's stock, valued at $3,531,215.16. This trade represents a 1.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,720 shares of company stock valued at $2,733,817 over the last 90 days. Insiders own 3.70% of the company's stock.

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.

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