Coppell Advisory Solutions LLC Acquires 8,568 Shares of Palomar Holdings, Inc. $PLMR

Key Points

• Coppell Advisory Solutions LLC increased its holdings in Palomar Holdings, Inc. by an extraordinary 3,912.3% in Q1, acquiring 8,568 shares and totaling ownership of 8,787 shares worth $1.205 million at the quarter's end.
• Palomar's latest earnings report for Q2 showed an EPS of $1.76, surpassing analysts' expectations, while the company's revenue grew by 47.6% year-over-year, amounting to $496.29 million.
• Institutional investors own approximately 90.25% of Palomar's stock, with multiple firms adjusting their positions, indicating heightened interest in this specialty insurance company.

Coppell Advisory Solutions LLC boosted its position in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 3,912.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,787 shares of the company's stock after acquiring an additional 8,568 shares during the quarter. Coppell Advisory Solutions LLC's holdings in Palomar were worth $1,205,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PLMR. Captrust Financial Advisors increased its stake in Palomar by 36.9% in the fourth quarter. Captrust Financial Advisors now owns 7,505 shares of the company's stock valued at $792,000 after acquiring an additional 2,024 shares during the last quarter. Deutsche Bank AG increased its stake in Palomar by 156.0% in the fourth quarter. Deutsche Bank AG now owns 38,319 shares of the company's stock valued at $4,046,000 after acquiring an additional 23,352 shares during the last quarter. Janus Henderson Group PLC increased its stake in Palomar by 211.8% in the fourth quarter. Janus Henderson Group PLC now owns 140,384 shares of the company's stock valued at $14,830,000 after acquiring an additional 95,359 shares during the last quarter. Lighthouse Investment Partners LLC bought a new position in Palomar in the fourth quarter valued at approximately $3,396,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Palomar by 9.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,636 shares of the company's stock valued at $1,545,000 after acquiring an additional 1,239 shares during the last quarter. 90.25% of the stock is owned by institutional investors.

Insider Activity

In other news, President Jon Christianson sold 521 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $120.13, for a total transaction of $62,587.73. Following the transaction, the president owned 59,036 shares in the company, valued at approximately $7,091,994.68. This represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO T Christopher Uchida sold 782 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $120.13, for a total transaction of $93,941.66. Following the transaction, the chief financial officer owned 7,668 shares in the company, valued at $921,156.84. This represents a 9.25% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,878 shares of company stock valued at $3,202,297. Corporate insiders own 3.70% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wall Street Zen cut shares of Palomar from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. JPMorgan Chase & Co. cut their target price on shares of Palomar from $170.00 to $158.00 and set an "overweight" rating on the stock in a research report on Monday, August 11th. Piper Sandler cut their target price on shares of Palomar from $177.00 to $151.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 6th. Keefe, Bruyette & Woods cut their target price on shares of Palomar from $204.00 to $172.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Finally, Evercore ISI raised their target price on shares of Palomar from $163.00 to $168.00 and gave the company an "in-line" rating in a research report on Friday, May 30th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $165.83.

Palomar Trading Down 1.7%

PLMR stock traded down $2.06 during midday trading on Friday, hitting $116.84. The stock had a trading volume of 303,323 shares, compared to its average volume of 294,616. The firm has a market cap of $3.13 billion, a P/E ratio of 20.53 and a beta of 0.34. Palomar Holdings, Inc. has a 1-year low of $85.00 and a 1-year high of $175.85. The business has a fifty day moving average price of $128.74 and a two-hundred day moving average price of $141.14.

Palomar (NASDAQ:PLMR - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.08. Palomar had a net margin of 22.71% and a return on equity of 20.35%. The business had revenue of $496.29 million for the quarter, compared to analyst estimates of $173.86 million. During the same quarter in the previous year, the business earned $1.25 earnings per share. Palomar's revenue for the quarter was up 47.6% on a year-over-year basis. On average, equities analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Palomar Company Profile

Palomar Holdings, Inc, a specialty insurance company, provides property and casualty insurance to residential and businesses in the United States. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, fronting, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance.