Robeco Schweiz AG Buys New Stake in Palomar Holdings, Inc. (NASDAQ:PLMR)

Robeco Schweiz AG purchased a new position in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC lifted its position in shares of Palomar by 185.3% in the first quarter. Nisa Investment Advisors LLC now owns 311 shares of the company's stock worth $43,000 after buying an additional 202 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in Palomar in the 1st quarter worth approximately $46,000. NBC Securities Inc. purchased a new stake in shares of Palomar during the 1st quarter worth approximately $53,000. USA Financial Formulas bought a new position in shares of Palomar during the 1st quarter valued at approximately $55,000. Finally, Jones Financial Companies Lllp increased its position in Palomar by 63.2% in the fourth quarter. Jones Financial Companies Lllp now owns 493 shares of the company's stock worth $52,000 after purchasing an additional 191 shares during the last quarter. Institutional investors own 90.25% of the company's stock.

Insiders Place Their Bets

In related news, CEO Mac Armstrong sold 5,000 shares of the stock in a transaction 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 approximately $61,261,538.32. This represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Timothy Carter sold 473 shares of the firm's stock in a transaction dated Saturday, June 28th. The shares were sold at an average price of $153.65, for a total value of $72,676.45. Following the sale, the insider owned 361 shares in the company, valued at $55,467.65. This trade represents a 56.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,175 shares of company stock worth $3,276,251. Corporate insiders own 3.70% of the company's stock.

Palomar Stock Down 4.0%

PLMR stock opened at $138.60 on Friday. The stock has a market capitalization of $3.71 billion, a PE ratio of 27.66 and a beta of 0.46. Palomar Holdings, Inc. has a 52 week low of $81.37 and a 52 week high of $175.85. The firm has a 50 day moving average of $157.71 and a 200 day moving average of $135.75.

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

Wall Street Analysts Forecast Growth

PLMR has been the topic of a number of research reports. Truist Financial boosted 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. Evercore ISI increased their price target on Palomar from $163.00 to $168.00 and gave the company an "in-line" rating in a report on Friday, May 30th. JPMorgan Chase & Co. upgraded shares of Palomar from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $115.00 to $150.00 in a report on Tuesday, April 8th. Keefe, Bruyette & Woods dropped their target price on Palomar from $205.00 to $204.00 and set an "outperform" rating for the company in a research report on Monday, June 30th. Finally, Piper Sandler increased their price target on Palomar from $171.00 to $177.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $174.17.

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.

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