Robeco Schweiz AG Invests $4.46 Million in Palomar Holdings, Inc. (NASDAQ:PLMR)

Robeco Schweiz AG purchased a new stake in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 32,500 shares of the company's stock, valued at approximately $4,455,000. Robeco Schweiz AG owned approximately 0.12% of Palomar as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of PLMR. Vanguard Group Inc. lifted its position in Palomar by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 2,574,923 shares of the company's stock worth $271,886,000 after purchasing an additional 53,123 shares during the period. American Century Companies Inc. lifted its position in Palomar by 36.6% during the fourth quarter. American Century Companies Inc. now owns 785,419 shares of the company's stock worth $82,932,000 after purchasing an additional 210,523 shares during the period. Geode Capital Management LLC lifted its position in Palomar by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 618,840 shares of the company's stock worth $65,358,000 after purchasing an additional 18,748 shares during the period. Dimensional Fund Advisors LP lifted its position in Palomar by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 561,740 shares of the company's stock worth $59,313,000 after purchasing an additional 17,320 shares during the period. Finally, Artemis Investment Management LLP lifted its position in Palomar by 17.0% during the first quarter. Artemis Investment Management LLP now owns 532,554 shares of the company's stock worth $73,003,000 after purchasing an additional 77,472 shares during the period. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on PLMR shares. Truist Financial increased their target price on shares of Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a report on Tuesday, April 15th. Keefe, Bruyette & Woods dropped their target price on shares of Palomar from $205.00 to $204.00 and set an "outperform" rating for the company in a report on Monday, June 30th. Piper Sandler increased their target price on shares of Palomar from $171.00 to $177.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. JPMorgan Chase & Co. raised shares of Palomar from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $115.00 to $150.00 in a report on Tuesday, April 8th. Finally, Evercore ISI increased 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. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Palomar presently has a consensus rating of "Moderate Buy" and an average price target of $174.17.

Palomar Price Performance

NASDAQ PLMR traded down $3.59 during trading hours on Friday, reaching $135.01. The company's stock had a trading volume of 274,530 shares, compared to its average volume of 219,859. The firm has a fifty day simple moving average of $157.71 and a 200-day simple moving average of $135.75. The stock has a market cap of $3.61 billion, a P/E ratio of 26.95 and a beta of 0.46. Palomar Holdings, Inc. has a 52 week low of $82.55 and a 52 week high of $175.85.

Palomar (NASDAQ:PLMR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $1.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.26. The business had revenue of $174.63 million during the quarter, compared to analyst estimates of $161.97 million. Palomar had a net margin of 21.99% and a return on equity of 20.56%. During the same quarter last year, the business earned $1.09 EPS. On average, research analysts expect that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Insider Buying and Selling at Palomar

In other Palomar news, CFO T Christopher Uchida sold 500 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $158.69, for a total transaction of $79,345.00. Following the completion of the sale, the chief financial officer owned 7,420 shares of the company's stock, valued at approximately $1,177,479.80. This represents a 6.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mac Armstrong sold 5,000 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $158.14, for a total transaction of $790,700.00. Following the sale, the chief executive officer directly owned 387,388 shares of the company's stock, valued at $61,261,538.32. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,175 shares of company stock valued at $3,276,251. 3.70% of the stock is currently owned by company insiders.

Palomar Company Profile

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.