Trillium Asset Management LLC acquired a new position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 34,537 shares of the company's stock, valued at approximately $4,365,000. Trillium Asset Management LLC owned approximately 0.13% of Palomar as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Summit Global Investments grew its holdings in Palomar by 1.7% in the fourth quarter. Summit Global Investments now owns 4,646 shares of the company's stock worth $626,000 after purchasing an additional 79 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Palomar by 2.0% during the fourth quarter. Quadrant Capital Group LLC now owns 4,464 shares of the company's stock worth $602,000 after purchasing an additional 88 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Palomar by 0.4% during the 2nd quarter. California State Teachers Retirement System now owns 24,207 shares of the company's stock valued at $3,734,000 after purchasing an additional 97 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Palomar by 11.7% during the 4th quarter. Covestor Ltd now owns 1,254 shares of the company's stock valued at $169,000 after purchasing an additional 131 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Palomar by 81.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 294 shares of the company's stock worth $40,000 after purchasing an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on PLMR shares. Keefe, Bruyette & Woods boosted their target price on Palomar from $166.00 to $167.00 and gave the stock an "outperform" rating in a research note on Monday, August 10th. Evercore set a $152.00 price target on Palomar in a research note on Friday, July 10th. Weiss Ratings raised Palomar from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, June 18th. JPMorgan Chase & Co. boosted their price target on Palomar from $150.00 to $167.00 and gave the stock an "overweight" rating in a research note on Monday, July 20th. Finally, Zacks Research downgraded shares of Palomar from a "strong-buy" rating to a "hold" rating in a report on Friday, May 15th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $162.75.
View Our Latest Report on PLMR
Palomar Trading Up 1.6%
NASDAQ:PLMR opened at $128.87 on Friday. The company has a market capitalization of $3.39 billion, a P/E ratio of 17.32 and a beta of 0.40. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.30. Palomar Holdings, Inc. has a 12 month low of $100.81 and a 12 month high of $147.62. The firm has a fifty day simple moving average of $130.45 and a 200-day simple moving average of $123.88.
Palomar (NASDAQ:PLMR - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.17. The firm had revenue of $314.42 million for the quarter, compared to the consensus estimate of $621.52 million. Palomar had a return on equity of 23.28% and a net margin of 18.61%.During the same period in the prior year, the firm earned $1.76 EPS. On average, equities research analysts anticipate that Palomar Holdings, Inc. will post 9.14 earnings per share for the current year.
Palomar Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.4%. Palomar's dividend payout ratio is currently 24.19%.
Insider Transactions at Palomar
In related news, insider Timothy Carter sold 480 shares of the company's stock in a transaction that occurred on Sunday, June 28th. The stock was sold at an average price of $124.29, for a total value of $59,659.20. Following the sale, the insider owned 1,670 shares in the company, valued at $207,564.30. This represents a 22.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Jon Christianson sold 6,863 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $139.50, for a total transaction of $957,388.50. Following the completion of the transaction, the president owned 66,478 shares in the company, valued at approximately $9,273,681. This trade represents a 9.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 20,165 shares of company stock valued at $2,680,993. 3.70% of the stock is owned by company insiders.
Palomar Profile
(
Free Report)
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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