Moran Wealth Management LLC Makes New Investment in Palomar Holdings, Inc. $PLMR

Key Points

• Moran Wealth Management LLC established a new position in Palomar, buying 18,353 shares in Q4 valued at about $2.47 million, representing roughly 0.07% of the company.
• Insiders have been net sellers: a total of 66,632 shares worth $8.18 million were sold in the past 90 days (including President Jon Christianson’s 1,937‑share sale under a 10b5‑1 plan), and corporate insiders now own 3.70% of the stock.
• Wall Street coverage is broadly positive with a consensus "Buy" and an average price target of $161.75, while Palomar recently posted strong results—Q EPS $2.24 vs. $2.06 expected and revenue $253.36M vs. $204.58M expected, up 62.7% year‑over‑year.

Moran Wealth Management LLC bought a new position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 18,353 shares of the company's stock, valued at approximately $2,473,000. Moran Wealth Management LLC owned 0.07% of Palomar at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Salomon & Ludwin LLC bought a new stake in shares of Palomar during the 3rd quarter worth $25,000. Richardson Financial Services Inc. raised its stake in shares of Palomar by 210.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 217 shares of the company's stock worth $25,000 after purchasing an additional 147 shares during the period. Clearstead Advisors LLC raised its stake in shares of Palomar by 31.0% during the 3rd quarter. Clearstead Advisors LLC now owns 397 shares of the company's stock worth $46,000 after purchasing an additional 94 shares during the period. IFP Advisors Inc raised its stake in shares of Palomar by 43.9% during the 3rd quarter. IFP Advisors Inc now owns 482 shares of the company's stock worth $56,000 after purchasing an additional 147 shares during the period. Finally, Advisory Services Network LLC bought a new stake in shares of Palomar during the 3rd quarter worth $57,000. 90.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, President Jon Christianson sold 1,937 shares of the business's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $128.62, for a total value of $249,136.94. Following the sale, the president directly owned 65,919 shares in the company, valued at approximately $8,478,501.78. The trade was a 2.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Angela L. Grant sold 260 shares of the business's stock in a transaction dated Saturday, January 31st. The shares were sold at an average price of $121.75, for a total value of $31,655.00. Following the completion of the sale, the insider owned 7,033 shares in the company, valued at $856,267.75. This represents a 3.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 66,632 shares of company stock worth $8,177,085 in the last ninety days. 3.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Palomar Stock Performance

Shares of Palomar stock opened at $132.55 on Monday. Palomar Holdings, Inc. has a 52-week low of $107.75 and a 52-week high of $175.85. The stock's 50-day simple moving average is $124.08 and its 200 day simple moving average is $124.07. The stock has a market capitalization of $3.51 billion, a P/E ratio of 18.46 and a beta of 0.54.

Palomar (NASDAQ:PLMR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $2.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.06 by $0.18. Palomar had a return on equity of 22.77% and a net margin of 22.50%.The business had revenue of $253.36 million for the quarter, compared to analysts' expectations of $204.58 million. During the same period in the previous year, the business posted $1.52 EPS. The firm's quarterly revenue was up 62.7% compared to the same quarter last year. Equities research analysts forecast that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

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.

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