Coppell Advisory Solutions LLC Increases Stock Position in 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 lifted its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 3,912.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,787 shares of the company's stock after buying 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 quarter.

Other institutional investors also recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its stake in shares of Palomar by 185.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 311 shares of the company's stock valued at $43,000 after buying an additional 202 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Palomar during the 1st quarter valued at approximately $46,000. TCTC Holdings LLC lifted its stake in shares of Palomar by 116.5% during the 1st quarter. TCTC Holdings LLC now owns 381 shares of the company's stock valued at $52,000 after buying an additional 205 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Palomar during the 1st quarter valued at approximately $53,000. Finally, USA Financial Formulas purchased a new stake in shares of Palomar during the 1st quarter valued at approximately $55,000. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Palomar Stock Down 1.7%

Shares of Palomar stock traded down $2.06 during trading on Friday, reaching $116.84. The company's stock had a trading volume of 303,323 shares, compared to its average volume of 261,334. Palomar Holdings, Inc. has a 52-week low of $85.00 and a 52-week high of $175.85. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 20.53 and a beta of 0.34. The firm's 50-day moving average is $128.16 and its two-hundred day moving average is $141.37.

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

Insider Buying and Selling

In other Palomar news, CEO Mac Armstrong sold 5,000 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $126.56, for a total transaction of $632,800.00. Following the completion of the sale, the chief executive officer owned 377,388 shares of the company's stock, valued at $47,762,225.28. This represents a 1.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jonathan Knutzen sold 281 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $120.13, for a total transaction of $33,756.53. Following the sale, the insider directly owned 21,210 shares of the company's stock, valued at $2,547,957.30. The trade was a 1.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,878 shares of company stock worth $3,202,297 in the last ninety days. 3.70% of the stock is currently owned by insiders.

About Palomar

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.