Robeco Institutional Asset Management B.V. Takes Position in Palomar Holdings, Inc. $PLMR

Key Points

• Robeco Institutional Asset Management B.V. acquired 29,495 shares of Palomar Holdings, valued at approximately $4.55 million, representing about 0.11% ownership in the company.
• Palomar Holdings has recently seen various hedge funds adjust their positions, maintaining strong institutional ownership at 90.25% of the stock.
• Equities analysts have lowered price targets for Palomar, with a consensus rating of "Moderate Buy" and an average price target of $160.17.

Robeco Institutional Asset Management B.V. purchased a new stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 29,495 shares of the company's stock, valued at approximately $4,550,000. Robeco Institutional Asset Management B.V. owned approximately 0.11% of Palomar at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Palomar during the first quarter valued at about $276,000. Principal Financial Group Inc. raised its position in shares of Palomar by 2.5% during the first quarter. Principal Financial Group Inc. now owns 151,237 shares of the company's stock worth $20,732,000 after acquiring an additional 3,697 shares during the last quarter. Informed Momentum Co LLC bought a new position in shares of Palomar during the first quarter worth about $4,894,000. HighTower Advisors LLC raised its position in shares of Palomar by 252.8% during the first quarter. HighTower Advisors LLC now owns 11,217 shares of the company's stock worth $1,538,000 after acquiring an additional 8,038 shares during the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. bought a new position in shares of Palomar during the first quarter worth about $6,943,000. 90.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PLMR shares. Evercore ISI lowered their price objective on Palomar from $168.00 to $134.00 and set an "in-line" rating for the company in a research report on Wednesday, October 1st. Wall Street Zen downgraded Palomar from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Keefe, Bruyette & Woods lowered their price objective on Palomar from $204.00 to $172.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. JPMorgan Chase & Co. lowered their target price on Palomar from $170.00 to $158.00 and set an "overweight" rating for the company in a report on Monday, August 11th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Palomar in a report on Saturday, September 27th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Palomar presently has a consensus rating of "Moderate Buy" and an average price target of $160.17.

Insider Activity

In other news, Director Richard H. Taketa acquired 500 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was purchased at an average price of $121.14 per share, for a total transaction of $60,570.00. Following the completion of the acquisition, the director directly owned 44,226 shares in the company, valued at $5,357,537.64. The trade was a 1.14% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jonathan Knutzen sold 281 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $120.13, for a total value of $33,756.53. Following the sale, the insider owned 21,210 shares of the company's stock, valued at approximately $2,547,957.30. This represents a 1.31% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,905 shares of company stock valued at $2,839,676. Corporate insiders own 3.70% of the company's stock.

Palomar Stock Performance

Shares of PLMR stock opened at $112.90 on Tuesday. The company has a market cap of $3.02 billion, a P/E ratio of 19.84 and a beta of 0.30. The stock has a 50 day simple moving average of $120.54 and a two-hundred day simple moving average of $139.79. Palomar Holdings, Inc. has a fifty-two week low of $85.00 and a fifty-two week high of $175.85.

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

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.

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