Dimensional Fund Advisors LP Raises Stake in Palomar Holdings, Inc. $PLMR

Key Points

• Dimensional Fund Advisors increased its Palomar Holdings stake by 3.7% in the first quarter, bringing its ownership to 653,026 shares worth approximately $78 million, or 2.46% of the company. Institutional investors collectively own 90.25% of Palomar.
• Palomar reported quarterly EPS of $2.31, exceeding estimates by $0.14, while revenue rose 59.7% year over year to $278.94 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $162.50.
• Company insiders sold shares under pre-arranged Rule 10b5-1 plans, including sales by the president and CEO; insiders sold 20,843 shares worth $2.71 million over the past 90 days. Palomar shares opened at $136.30, down 4.6%.

Dimensional Fund Advisors LP grew its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 3.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 653,026 shares of the company's stock after buying an additional 23,579 shares during the period. Dimensional Fund Advisors LP owned 2.46% of Palomar worth $78,037,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Geneos Wealth Management Inc. acquired a new stake in Palomar during the 4th quarter worth approximately $32,000. Kestra Advisory Services LLC acquired a new position in shares of Palomar in the fourth quarter valued at approximately $33,000. Rockefeller Capital Management L.P. raised its stake in shares of Palomar by 81.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 294 shares of the company's stock worth $40,000 after purchasing an additional 132 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Palomar by 638.3% during the first quarter. Parallel Advisors LLC now owns 443 shares of the company's stock worth $53,000 after purchasing an additional 383 shares during the period. Finally, Frazier Financial Advisors LLC acquired a new stake in shares of Palomar during the fourth quarter worth $54,000. Institutional investors and hedge funds own 90.25% of the company's stock.

Insider Transactions at Palomar

In related news, President Jon Christianson sold 6,863 shares of the business's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $139.50, for a total transaction of $957,388.50. Following the sale, the president owned 66,478 shares of the company's stock, valued at approximately $9,273,681. The trade was a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mac Armstrong sold 3,500 shares of the company's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $112.96, for a total transaction of $395,360.00. Following the transaction, the chief executive officer owned 329,388 shares in the company, valued at $37,207,668.48. The trade was a 1.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 20,843 shares of company stock valued at $2,711,683 in the last ninety days. 3.70% of the stock is currently owned by company insiders.

Palomar Stock Down 4.6%

Palomar stock opened at $136.30 on Friday. The stock's 50 day moving average price is $123.91 and its 200 day moving average price is $123.45. Palomar Holdings, Inc. has a 1-year low of $100.81 and a 1-year high of $147.62. The company has a market cap of $3.61 billion, a PE ratio of 18.98 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.

Palomar (NASDAQ:PLMR - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.14. Palomar had a return on equity of 22.62% and a net margin of 20.11%.The firm had revenue of $278.94 million during the quarter, compared to analysts' expectations of $557.79 million. During the same quarter in the prior year, the business posted $1.87 earnings per share. Palomar's revenue was up 59.7% compared to the same quarter last year. On average, sell-side analysts predict that Palomar Holdings, Inc. will post 8.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PLMR has been the topic of several recent research reports. Weiss Ratings raised shares of Palomar from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, June 18th. Keefe, Bruyette & Woods raised their target price on shares of Palomar from $162.00 to $166.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 8th. Zacks Research downgraded shares of Palomar from a "strong-buy" rating to a "hold" rating in a report on Friday, May 15th. JPMorgan Chase & Co. boosted their price target on shares of Palomar from $150.00 to $167.00 and gave the stock an "overweight" rating in a research note on Monday, July 20th. Finally, Piper Sandler increased their price target on shares of Palomar from $132.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $162.50.

Palomar 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.

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