Robeco Institutional Asset Management B.V. Sells 28,949 Shares of Palomar Holdings, Inc. $PLMR

Key Points

• Robeco Institutional Asset Management cut its stake in Palomar by 75.8%, selling 28,949 shares and leaving 9,256 shares valued at about $1.25 million after the fourth quarter.
• Palomar beat estimates with Q results of $2.24 EPS versus $2.06 expected and revenue of $253.36 million (up 62.7% year-over-year versus $204.58M est.), and the stock carries a consensus "Moderate Buy" rating with an average price target of $161.75.
• Corporate insiders sold a total of 66,632 shares (~$8.18 million) in the last quarter; institutional investors own 90.25% of the company while insiders hold 3.70%.

Robeco Institutional Asset Management B.V. lowered its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 75.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,256 shares of the company's stock after selling 28,949 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Palomar were worth $1,247,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Salomon & Ludwin LLC bought a new position in Palomar during the third quarter worth $25,000. Richardson Financial Services Inc. increased its position in Palomar by 210.0% during the third quarter. Richardson Financial Services Inc. now owns 217 shares of the company's stock worth $25,000 after acquiring an additional 147 shares during the period. Clearstead Advisors LLC increased its position in Palomar by 31.0% during the third quarter. Clearstead Advisors LLC now owns 397 shares of the company's stock worth $46,000 after acquiring an additional 94 shares during the period. IFP Advisors Inc increased its position in Palomar by 43.9% during the third quarter. IFP Advisors Inc now owns 482 shares of the company's stock worth $56,000 after acquiring an additional 147 shares during the period. Finally, Advisory Services Network LLC bought a new position in Palomar during the third quarter worth $57,000. Institutional investors own 90.25% of the company's stock.

Palomar Price Performance

Shares of Palomar stock opened at $132.55 on Friday. The firm has a market capitalization of $3.51 billion, a PE ratio of 18.46 and a beta of 0.54. The company's fifty day moving average price is $124.08 and its two-hundred day moving average price is $123.92. Palomar Holdings, Inc. has a 52-week low of $107.75 and a 52-week high of $175.85.

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

Insider Buying and Selling at Palomar

In other Palomar news, President Jon Christianson sold 1,937 shares of the business's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $128.62, for a total value of $249,136.94. Following the sale, the president owned 65,919 shares of the company's stock, valued at $8,478,501.78. The trade was a 2.85% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO T Christopher Uchida sold 783 shares of the business's stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $128.04, for a total transaction of $100,255.32. Following the completion of the sale, the chief financial officer directly owned 14,752 shares in the company, valued at $1,888,846.08. This trade represents a 5.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 66,632 shares of company stock worth $8,177,085. Corporate insiders own 3.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PLMR. Wall Street Zen lowered shares of Palomar from a "buy" rating to a "hold" rating in a research report on Sunday, March 1st. Weiss Ratings cut Palomar from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, April 7th. Keefe, Bruyette & Woods boosted their price objective on Palomar from $183.00 to $186.00 and gave the company an "outperform" rating in a research report on Tuesday, April 7th. Evercore initiated coverage on Palomar in a research report on Monday, February 9th. They set an "outperform" rating and a $150.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on Palomar from $155.00 to $160.00 and gave the company an "overweight" rating in a research report on Monday, February 23rd. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $161.75.

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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